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SWC > SEC Filings for SWC > Form 8-K/A on 7-May-2014All Recent SEC Filings

Show all filings for STILLWATER MINING CO /DE/



Entry into a Material Definitive Agreement, Change in Directors or Pr

Item 1.01. Entry into a Material Definitive Agreement

Effective April 15, 2014, Kevin Shiell, Vice President of Mining Operations, resigned from Stillwater Mining Company (the "Company") to pursue other interests. In conjunction with his resignation and on that date, Mr. Shiell's employment agreement was terminated, and the Company and Mr. Shiell entered into a Confidential Severance and General Release Agreement (the "Severance Agreement"). Pursuant to the terms of the Severance Agreement, (i) Mr. Shiell agreed to, among other things, a release in favor of the Company, confidentiality, non-competition and non-solicitation, and (ii) the Company agreed, among other things, to pay to Mr. Shiell severance in the amount of $878,000.00 to be paid out in 24 equal monthly installments commencing on August 1, 2014.

Mr. Shiell's employment agreement was previously filed as Exhibit 10.2 to the Company's Current Report on Form 8-K filed on March 12, 2014.

Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

The information contained in Item 1.01 above is incorporated herein by reference.

Item 9.01 . Financial Statements and Exhibits

  No.        Description

99.1         Severance and General Release Agreement between the Company and Kevin
             G. Shiell

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