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HURC > SEC Filings for HURC > Form 8-K on 3-Mar-2014All Recent SEC Filings

Show all filings for HURCO COMPANIES INC



Change in Directors or Principal Officers, Financial Statements and Exhibits

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

On February 28, 2014, Hurco Companies, Inc. (the "Company") reached an agreement with its Chief Financial Officer, John G. Oblazney, regarding his departure from the Company, effective February 28, 2014.

The Company entered into a Separation and Release Agreement (the "Agreement") with Mr. Oblazney which specifies the financial terms of his separation and releases the Company from any liability in connection with his service or separation. The Agreement provides for the Company to make a one-time lump sum payment of $350,000 to Mr. Oblazney.

On February 28, 2014, the Board of Directors appointed Sonja K. McClelland to the additional offices of Interim Chief Financial Officer and Secretary. Ms. McClelland is 42 years old and has been employed by the Company since September 1996. She was elected Corporate Controller and Assistant Secretary in November 2004. Ms. McClelland served as Corporate Accounting Manager from September 1996 to 1999, then as Division Controller for Hurco USA from September 1999 to November 2004. Prior to joining the Company, Ms. McClelland was employed for three years by an international public accounting firm. No changes have been made to her compensation at this time.

On March 3, 2014, the Company issued a press release announcing these developments. A copy of the press release and the Agreement are filed as exhibits to this report and are hereby incorporated by reference into this Item 5.02.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

Exhibit 10.1 Separation and Release Agreement between the Company and John G.

Oblazney dated February 28, 2014.

Exhibit 99.1 Press Release dated March 3, 2014.

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