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

Show all filings for OCLARO, INC.

Form 8-K for OCLARO, INC.


Change in Directors or Principal Officers

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

As previously announced, Jerry Turin resigned as the Company's chief financial officer, effective on November 8, 2013. In connection with such resignation, Mr. Turin and the Company entered into a Separation Agreement on November 7, 2013, under which Mr. Turin is entitled to (i) a cash payment equal to $245,893, and outplacement assistance, subject to Mr. Turin executing a release under the terms of the Separation Agreement, (ii) any prior period bonus which had been previously approved but not previously paid and (iii) the amount of any accrued base salary and/or vacation pay to the date of termination to the extent not previously paid. In addition, 95,400 shares of restricted stock previously granted to Mr. Turin which had not vested in accordance with their terms by Mr. Turin's termination date became fully vested.

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