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PRSC > SEC Filings for PRSC > Form 8-K on 20-Mar-2014All Recent SEC Filings

Show all filings for PROVIDENCE SERVICE CORP



Change in Directors or Principal Officers, Financial Statements and Exhib

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

Effective March 14, 2014, Craig Norris, one of the named executive officers of The Providence Service Corporation (the "Company"), stepped down from his position as Chief Executive Officer of Human Services business segment. Going forward, Mr. Norris will be employed as a senior advisor to the Company. Mr. Norris will not be eligible for future compensation under the executive long-term incentive plan, and his employment will be "at will". The termination of Mr. Norris' employment as Chief Executive Officer of the Human Services business segment will be considered a termination under Section 6(c) of the Amended and Restated Employment Agreement (the "Employment Agreement") dated May 17, 2011, by and between the Company and Mr. Norris, and upon Mr. Norris execution of a separation and general release agreement as required thereby, Mr. Norris will receive a severance payment of $648,000 pursuant to the Employment Agreement. The Employment Agreement will continue in full force and effect, as modified by the letter agreement between Mr. Norris and the Company filed as an exhibit herewith. The Employment Agreement was previously filed with the Securities and Exchange Commission as an exhibit to a Form 8-K filed on May 19, 2011 and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

10.1 Letter agreement between Craig Norris and The Providence Service Corporation dated March 14, 2014

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