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BOBE > SEC Filings for BOBE > Form 8-K/A on 18-Oct-2013All Recent SEC Filings

Show all filings for BOB EVANS FARMS INC



Change in Directors or Principal Officers, Financial Statements and Exhibit

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

Effective on August 16, 2013, the position of chief risk and compliance officer was eliminated. Richard B. Green, who held the position, resigned as a named executive officer of Bob Evans Farms, Inc. ("Company") at such time. Mr. Green has and will continue to assist in the transition of key functional areas until January 31, 2014, at which time his employment with the Company shall terminate.

The Company and Mr. Green have entered into a Severance Agreement and General Release dated October 16, 2013 ("Agreement"), a copy of which is filed herewith as Exhibit 10.1 and incorporated by reference. The following is a summary of the terms of the Agreement; the complete Agreement is attached to this Form 8-K/A and should be referenced for more information.

In consideration of Mr. Green's release of all claims he may have against the Company, if any, and for his covenants in the Agreement including, without limitation, covenants to maintain Company information as confidential; to cooperate in the defense of any claim against the Company; his agreement to complete certain critical transitional functions through his separation date; his agreement to not compete with identified businesses and not solicit employees for a period of one year following his separation date; and to not disparage the Company, the Company will provide Mr. Green with a lump sum payment of $813,915.00, less appropriate deductions and tax withholding amounts, consistent with the terms of the Agreement. Per the terms of the Agreement, Mr. Green will also be eligible to receive a pro-rata bonus for fiscal 2014 under the terms of the appropriate bonus plan, less appropriate deductions and tax withholding amounts. Mr. Green will also be entitled to any accrued and vested rights he has in any outstanding equity awards (including options), and in the Company's benefit plans.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1 Severance Agreement and General Release dated October 16, 2013, between Richard B. Green and BEF Management, Inc. *

* Compensation Arrangement or Plan

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