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SNI > SEC Filings for SNI > Form 8-K on 19-Nov-2013All Recent SEC Filings




Change in Directors or Principal Officers, Financial Statement

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

Scripps Networks Interactive, Inc. (the "Company") entered into Amendment No. 2 to its employment agreement with Joseph G. NeCastro, Chief Financial Officer and Administrative Officer effective November 13, 2013. The amendment provides that Mr. NeCastro will not be entitled to any severance benefits in the event that his employment with the Company terminates on or after the December 31, 2016 expiration date of his employment agreement or any renewal thereof. In addition, the amendment provides for the grant to Mr. NeCastro on November 13, 2013 of 45,692 restricted share units under the Company's 2008 Long-Term Incentive Plan, as amended, that will vest on December 31, 2016 provided Mr. NeCastro remains in the continuous employment of the Company through that date. Vesting of all of the restricted share units granted to Mr. NeCastro on November 13, 2013 will accelerate upon the involuntarily termination of his employment (termination without cause or for good reason) or upon a change in control of the Company. Mr. NeCastro will forfeit the unvested portion of the awards upon voluntary termination of his employment (without good reason).

The foregoing summary of the employment agreement amendment is qualified in its entirety by reference to the full text of the employment agreement amendment, a copy of which is attached as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

10.1 Amendment No. 2 to Employment Agreement between the Company and Joseph G.

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