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NNUTU > SEC Filings for NNUTU > Form 8-K on 23-Jul-2013All Recent SEC Filings

Show all filings for ROYAL HAWAIIAN ORCHARDS, L.P.



Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement.

On July 18, 2013, Royal Hawaiian Orchards, L.P. (the "Company") entered into a Separation Agreement and General Release (the "Agreement") with Dennis Simonis the former president, chief executive officer and a director of the general partner of the Company, Royal Hawaiian Resources, Inc. In consideration of a release of all claims against the Company and its affiliates that Mr. Simonis may have resulting from his former positions at the Company or under his employment agreement, on January 3, 2014, the Company will pay Mr. Simonis $238,833 and his attorney $28,967, which together are equal to one year's base salary. The Company will also pay premiums for health insurance purchased by Mr. Simonis and his spouse through June 2014. The Agreement becomes effective on the eighth day after its execution, unless earlier revoked by Mr. Simonis.

Item 9.01(d).  Exhibits.

(d)    Exhibits.

10.1   Separation Agreement and General Release dated July 18, 2013 between
       Royal Hawaiian Orchards, L.P. and Dennis Simonis

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