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JW-A > SEC Filings for JW-A > Form 8-K on 5-Jun-2013All Recent SEC Filings

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Form 8-K for WILEY JOHN & SONS, INC.


5-Jun-2013

Change in Directors or Principal Officers, Financial Statements and Exhib


Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers, Compensatory Arrangements of Certain Officers

On June 3, 2013 the Board of Directors of John Wiley & Sons, Inc. (the "Company") announced that John Kritzmacher, former CFO of Lucent Technologies, Inc. and Global Crossing, Ltd., has been named as the Company's next Executive Vice President and Chief Financial Officer, effective July 1, 2013. Ellis Cousens, the Company's current CFO and Chief Operations Officer will retain responsibility for certain global operations and oversee the Company's restructuring program until his previously announced retirement at the end of fiscal year 2014.

On May 29, 2013, the Executive Compensation and Development Committee of the Company formally approved an employment agreement for Mr. Kritzmacher, in connection with his being appointed Executive Vice President and Chief Financial Officer of the Company. The terms of compensation include the following:

A base salary of $600,000
A target incentive of 90% of base salary

A one-time grant of 12,500 restricted shares, such shares to vest 50% on June 17, 2015 and 50% on June 17, 2016.
Eligibility for participation in all of the Company's executive compensation plans for which any senior executive is eligible including, but not limited to, the Executive Annual Incentive Plan, the Annual Strategic Milestones Incentive Plan, and the Long Term Incentive Plan.

A copy of the employment contract is attached as Exhibit 10.29 to this Current Report on Form 8-K and is incorporated in its entirety herein.

A copy of the press release announcing the appointment of Mr. Kritzmacher as Executive Vice President and Chief Financial Officer is attached as Exhibit 99.1 to this Current Report on Form 8-K.



Item 9.01 - Financial Statements and Exhibits

Exhibits:

Exhibit 10.29
Employment Agreement with John Kritzmacher

Exhibit 99.1
Press release dated June 03, 2013 titled "Wiley Names John Kritzmacher as Chief Financial Officer"


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