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MGAM > SEC Filings for MGAM > Form 8-K on 13-May-2014All Recent SEC Filings

Show all filings for MULTIMEDIA GAMES HOLDING COMPANY, INC.

Form 8-K for MULTIMEDIA GAMES HOLDING COMPANY, INC.


13-May-2014

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.

(b)

Joaquin J. Aviles, the Company's Vice President, Technology, has resigned from Multimedia Games Holding Company, Inc. (the "Company") effective as of May 9, 2014.

(e)

Mr. Aviles' Amended and Restated Executive Employment Agreement, dated as of October 31, 2010, with the Company has been terminated and Mr. Aviles and the Company have entered into a Separation and Release Agreement, dated May 9, 2014 (the "Separation Agreement"). Pursuant to the Separation Agreement and in recognition of Mr. Aviles' dedication and service to the Company, Mr. Aviles will be entitled to receive shares of common stock and an amount of cash equal to the amounts that he would have received under the Company's Long Term Incentive Program ("LTIP") at the end of the LTIP's current performance cycle, in each case prorated based on the number of days employed during the performance cycle. Such amounts are based on the Company's achievement of the maximum performance level as described on the Company's definitive proxy statement filed on January 10, 2014. These payments are expected to be made to Mr. Aviles in the Company's fiscal 2014 third quarter.


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