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LIME > SEC Filings for LIME > Form 8-K on 27-Sep-2013All Recent SEC Filings

Show all filings for LIME ENERGY CO.

Form 8-K for LIME ENERGY CO.


Change in Directors or Principal Officers, Financial Statements and Exhibits

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

(c) Appointment of principal operating officer.

On September 23, 2013, the Board of directors of Lime Energy Co. (the "Company") named Adam Procell as its President and Chief Operating Officer in which capacity he will serve as its principal operating officer.

Mr. Procell, age 45, was previously Divisional President and as Vice President of Sales and Marketing. Prior to joining the Company in April 2009, Mr. Procell served as the National Director of Energy Efficiency & Carbon Management for AECOM Technology Corporation (ACM: NYSE).

Mr. Procell entered into an employment agreement with a subsidiary of the Company in March 2009. The employment agreement currently provides that Mr. Procell's annual base salary shall be determined by the Company in its sole discretion and that he shall be eligible for an annual bonus of up to 50% of his annual base salary. Mr. Procell's current annual base salary is $240,000. The employment agreement currently does not provide for any fixed period of employment or severance payments. This description of Mr. Procell's employment agreement is not complete and is qualified in its entirety by the employment agreement, a copy of which is attached as exhibit 10.1.

The Company released a press release on September 27, 2013, announcing Mr. Procell's appointment, a copy of which is attached as exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(a) Exhibits

10.1 Employment Agreement dated April 7, 2009, between Applied Energy Management Energy Consulting, LLC. and Adam Procell.

99.1 Press release dated September 27, 2013

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