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SGI > SEC Filings for SGI > Form 8-K on 28-Aug-2013All Recent SEC Filings




Entry into a Material Definitive Agreement, Change in Directo

Item 1.01 Entry into a Material Definitive Agreement.

On August 26, 2013, Silicon Graphics International Corp. (the "Company") entered into a Separation Agreement with Anthony Carrozza, the Company's Executive Vice President of Worldwide Sales ("Separation Agreement"). In exchange for a general release of any and all existing, future and potential claims against the Company, the Company will provide Mr. Carrozza the following benefits upon his termination under the terms of the Separation Agreement:

separation pay of twelve (12) months of base salary ($300,000) payable in twenty-six (26) equal installments in accordance with the Company's normal payroll practices;

medical, vision and dental COBRA premium reimbursement for Mr. Carrozza and any dependents currently on the Company's benefits plans until the sooner of Mr. Carrozza becoming eligible for such benefits through another plan or for up to twelve (12) months immediately following his separation date; and

the ability to exercise any Company derivative equity securities vested as of his separation date for up to twelve (12) months following his separation date.

Pursuant to the Age Discrimination in Employment Act, Mr. Carrozza may revoke the Separation Agreement until September 2, 2013.

The foregoing description of the Separation Agreement is a summary of its material terms and does not purport to be complete. This summary is qualified in its entirety by reference to the Separation Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

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

On August 28, 2013, the Company announced that Anthony Carrozza, the Company's Executive Vice President of Worldwide Sales, is leaving the Company. A copy of the Company's press release is attached as Exhibit 99.1. Mr. Carrozza will remain with the Company until November 15, 2013 to transition his duties and to manage the Company's sales efforts until a replacement is found.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Number    Exhibit Title

          Separation Agreement dated August 26,
          2013 between the Company and Anthony
10.1      Carrozza
          Company press release dated August
          28, 2013 announcing the departure of
99.1      Anthony Carrozza

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