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

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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.

On November 13, 2013, Mr. Don Hazell entered into a Separation Agreement and General Release (the "Separation Agreement") with Rally Software Development Corp. (the "Company"), pursuant to which Mr. Hazell will receive a cash payment of $710,000. The Separation Agreement also provides for standard confidentiality and non-disparagement covenants, as well as a release of claims. In the Separation Agreement, Mr. Hazell also confirms that he will comply with the restrictions around solicitation and competition that are set forth in his previously executed Proprietary Information and Inventions Agreement. As previously reported, Mr. Hazell resigned from his position as Executive Vice President, Strategic Accounts of the Company effective October 31, 2013.

The foregoing description of the Separation Agreement is qualified in its entirety by reference to the full text of the agreement, a copy of which will be filed by the Company with its next Quarterly Report on Form 10-Q.

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