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EFSC > SEC Filings for EFSC > Form 8-K on 6-Feb-2014All Recent SEC Filings

Show all filings for ENTERPRISE FINANCIAL SERVICES CORP

Form 8-K for ENTERPRISE FINANCIAL SERVICES CORP


6-Feb-2014

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.

Entry Into or Amendment of Material Compensatory Plan, Contract or Arrangement On February 4, 2014, Enterprise Financial Services Corp (the "Company") announced that it has amended the Executive Employment Agreement of Peter F. Benoist, Chief Executive Officer, to extend the term of his employment to December 31, 2016. Mr. Benoist's employment term previously was scheduled to expire on December 31, 2014.
In addition, Mr. Benoist's employment agreement was amended to provide that his severance compensation upon a Termination Other Than for Cause (as defined in the Executive Employment Agreement) will equal the sum of the amount of one year's base salary, at the rate in effect at the time of such termination, plus an amount equal to the average of annual incentives awarded to him with respect to the two most recently concluded fiscal years prior to his termination. Mr. Benoist's employment agreement previously provided that, in such event, his severance pay would equal the sum of the amount of one year's base salary plus the amount of his target bonus opportunity, in each case, as in effect in the year in which such termination occurred.

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