Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
ZIGO > SEC Filings for ZIGO > Form 8-K on 15-Nov-2013All Recent SEC Filings

Show all filings for ZYGO CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for ZYGO CORP


15-Nov-2013

Entry into a Material Definitive Agreement, Change in Directors or Principal Officers,


Item 1.01 Entry into a Material Definitive Agreement.

On November 13, 2013, Zygo Corporation (the "Company") entered into an employment agreement (the "Employment Agreement") with Gary K. Willis, effective November 11, 2013. Pursuant to the Employment Agreement, Mr. Willis is employed as interim Chief Executive Officer ("CEO") of the Company. The Employment Agreement has a term that began on November 11, 2013, and will, unless sooner terminated, continue until the date a permanent CEO commences employment with the Company. Mr. Willis or the Company may terminate the Employment Agreement at any time for any or no reason. Mr. Willis will be paid at the rate of $215.00 per hour, provided that the amount payable for any week will not be less than $860.00 nor more than $8,600.00, regardless of the number of hours worked during that week. The Employment Agreement also provides for an equity award consisting of a restricted stock unit award issued under the Company's 2012 Equity Incentive Plan (the "2012 Plan") covering 10,000 shares of the Company's common stock, which will vest in full on the earliest of (a) the date the Company hires a new permanent CEO and (b) November 11, 2014, and will otherwise be in accordance with the terms of the 2012 Plan. The terms and conditions of the restricted stock unit award will be subject to the terms of the 2012 Plan and to a separate award agreement, generally consistent with those provided under the 2012 Plan. Mr. Willis will continue to serve as a member of the Board of Directors of the Company, but will not receive compensation for his service as a director, so long as he is employed by the Company.

Mr. Willis will be entitled to participate in any group health, retirement savings or other employee benefit plan of the Company, applicable generally to senior executive officers of the Company, provided, however, that Mr. Willis will not be entitled to any paid vacation.

The foregoing description of the Employment Agreement is qualified in its entirety by reference to a copy of the Employment Agreement included as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated herein by reference.



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

5.02 (e) The description of the Company's compensatory arrangements contained in the Employment Agreement with Mr. Willis, set forth in Item 1.01 above, is incorporated herein by reference. In addition, as noted in Item 1.01, on November 11, 2013, in accordance with the Employment Agreement, Mr. Willis received a restricted stock unit award issued under the Company's 2012 Equity Incentive Plan (the "2012 Plan") covering 10,000 shares of the Company's common stock, which will vest in full on the earliest of (a) the date the Company hires a new permanent CEO and (b) November 11, 2014, and will otherwise be in accordance with the terms of the 2012 Plan and the referenced separate award agreement.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

10.1 Employment Agreement between Zygo Corporation and Gary K. Willis.

  Add ZIGO to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for ZIGO - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.