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TSCO > SEC Filings for TSCO > Form 8-K on 14-Mar-2014All Recent SEC Filings

Show all filings for TRACTOR SUPPLY CO /DE/



Change in Directors or Principal Officers, Financial Statements and Exhibi

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

On March 10, 2014, Tractor Supply Company (the "Company") entered into a transition agreement (the "Transition Agreement") with Kimberly D. Vella, the Company's former Senior Vice President and Chief People Officer. Pursuant to the Transition Agreement, Ms. Vella has agreed to provide services reasonably requested by the Company through March 1, 2015 in order to assist in the transition of her former duties and responsibilities to the Company. Ms. Vella has also agreed to be bound by certain non-competition, non-solicitation and confidentiality provisions, in each case as set forth in the Transition Agreement, as well as a general release of claims against the Company. In exchange for these restrictive covenants and her agreement to provide transition services, Ms. Vella will continue to receive her base salary, payable in accordance with the Company's normal payroll practices during such period. Ms. Vella will also be entitled to a lump sum payment equal to her target bonus under the Company's Cash Incentive Plan payable on the earlier of (i) the date that bonus payments are made to the Company's executive officers for 2014 and
(ii) March 15, 2015, as well as a lump sum payment equal to four weeks of vacation. In the event that Ms. Vella elects to continue her participation in the Company's group health insurance plan under applicable COBRA regulations, the Company will pay the applicable COBRA premiums for a period of up to 12 months.

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

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

10.1 Transition Agreement, dated March 10, 2014, by and between Tractor Supply Company and Kimberly D. Vella.

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