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RCKB > SEC Filings for RCKB > Form 8-K on 14-Jun-2013All Recent SEC Filings

Show all filings for ROCKVILLE FINANCIAL, INC. /CT/ | Request a Trial to NEW EDGAR Online Pro



Change in Directors or Principal Officers, Financial Statements an

ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 10, 2013, Rockville Financial, Inc. (the "Company") and its subsidiary Rockville Bank (the "Bank") entered into an employment agreement (the "Agreement") with William H. W. Crawford, IV (the "Executive"). The Agreement is effective on January 1, 2014, upon the expiration of Mr. Crawford's currently effective employment agreement dated January 3, 2011 and expiring on December 31, 2013.

The term of the Agreement is until December 31, 2016, subject to possible annual extensions. The Agreement provides for an initial base salary of $500,000 per year. The Agreement also provides that Mr. Crawford will be eligible to earn annual incentive compensation with an incentive target in amounts determined by the Company's Compensation Committee. Mr. Crawford will be eligible to participate in the cash incentive plans and stock benefit plans and to receive fringe benefits generally available to Rockville Bank's executive officers.

The Agreement also provides for severance benefits in the event of certain termination events and a change of control. Benefits under a change of control are capped at the golden-parachute level under Internal Revenue Code
Section 280G. The Agreement contains restrictive covenants relating to the protection of confidential information, non-disclosure, non-solicitation and non-competition.

The preceding description of the Agreement is a summary of the material terms of the Agreement and does not purport to be complete, and is qualified in its entirety by reference to the Agreement, a copy of which is being filed as Exhibit 10.11.3 to this current report on Form 8-K and is incorporated herein by reference.

ITEM 9.01 Financial Statements and Exhibits

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits

Number              Description
Exhibit 10.11.3     Employment Agreement by and among Rockville Financial, Inc.,
                    Rockville Bank and William H.W. Crawford, IV

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