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ESSX > SEC Filings for ESSX > Form 8-K on 13-Nov-2013All Recent SEC Filings

Show all filings for ESSEX RENTAL CORP.



Change in Directors or Principal Officers, Other Events, Financial Statements

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

On November 11, 2013, Ronald Schad, Essex Rental Corp.'s (the "Company" or "Essex") President and Chief Executive Officer, resigned from the Company. Mr. Schad will continue to serve as the President and Chief Executive Officer of Essex until his successor is identified and retained. Mr. Schad will also continue to serve on Essex's Board of Directors through his current term.

In connection with Mr. Schad's resignation, the Company and Mr. Schad entered into an employment separation agreement and release, pursuant to which Mr. Schad will continue to receive his base salary and current benefits through a transition period and severance payments equal to his current salary and health benefits for one year thereafter. In addition, a total of 593,250 options to purchase shares of the Company's common stock held by Mr. Schad will continue to be exercisable until the ten year anniversaries of the respective grant dates of such options. The foregoing summary of the Separation Agreement does not purport to describe all of the terms of the Separation Agreement, and is qualified in its entirety by reference to the full text thereof. A copy of the Separation Agreement is attached hereto as Exhibit 10.1.

Item 8.01. Other Events

On November 11, 2013, the Company issued a press release announcing the resignation of Mr. Schad as President and Chief Executive Officer of Essex Rental Corp.

Item 9.01. Financial Statements and Exhibits
Exhibit No.   Description
              Employment Separation Agreement and Release, dated as of November 11,
              2013, by and between Essex Rental Corp., Essex Crane Rental Corp. and
10.1          Ronald Schad
99.1          Press Release, dated November 11, 2013

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