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PJC > SEC Filings for PJC > Form 8-K on 19-Mar-2014All Recent SEC Filings

Show all filings for PIPER JAFFRAY COMPANIES



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. On March 19, 2014, Advisory Research, Inc., a subsidiary of Piper Jaffray Companies (the "Company"), entered into a consulting agreement with Brien M. O'Brien, the Company's former Head of Asset Management. Following the previous announcement that Mr. O'Brien and the Company had agreed to terminate his employment agreement without Cause (as defined in the employment agreement), the Company and Mr. O'Brien entered into good faith negotiations in accordance with the employment agreement and mutually agreed to the terms of the consulting agreement.
The consulting agreement provides that Mr. O'Brien will serve as a consultant to Advisory Research, performing such services as needed and requested. The term of the consulting agreement begins on April 1, 2014 and ends on March 31, 2016, and it may be terminated by either Advisory Research or Mr. O'Brien by providing 30 days prior written notice. Advisory Research will pay Mr. O'Brien $60,000 per month pursuant to the consulting agreement, which compensation will be reviewed quarterly for adjustments.
The foregoing description of the terms of the consulting agreement is a summary and is qualified in all respects by reference to the agreement, which is included as Exhibit 10.1 and incorporated into this Item 5.02 by reference. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibit is filed herewith:
No.       Description

10.1      Consulting Agreement, dated March 19, 2014, by and between Advisory
          Research, Inc. and Brien M. O'Brien.

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