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ACHI > SEC Filings for ACHI > Form 8-K on 11-Jun-2014All Recent SEC Filings

Show all filings for ACCRETIVE HEALTH, INC.



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 June 9, 2014, Accretive Health, Inc. (the "Company") appointed Thomas J. Gibson, age 50, as its Senior Vice President, Corporate Controller and Chief Accounting Officer (the Company's principal accounting officer). From August 2013 until December 2013, Mr. Gibson served as Chief Accounting Officer of Greenway Medical Technologies, Inc., a healthcare information technology company. From January 2011 until July 2013, Mr. Gibson served as Senior Vice President of Finance of Medassets, Inc. ("Medassets"), a provider of financial performance solutions for supply chain management and revenue cycle management, and from June 2008 to December 2010, he served as Vice President of Revenue Cycle Management at Medassets. From 2005 to 2008, Mr. Gibson served as Division President, Dallas Division of Taylor Morrison Homes, Inc., an international homebuilding company. From 2000 to 2004, Mr. Gibson served as Senior Manager, Assurance Practice of Pricewaterhouse Coopers LLP.

In connection with his appointment, Mr. Gibson and the Company entered into an offer letter pursuant to which Mr. Gibson is entitled to an annual base salary of $285,000, and is eligible for a discretionary cash bonus with a target equal to 40% of his annual base salary (prorated for 2014). In the event that the Company terminates Mr. Gibson's employment other than for cause, he will be entitled to six months of salary continuation.

Pursuant to the offer letter, Mr. Gibson will also be granted a nonqualified stock option to purchase 50,000 shares of the Company's common stock pursuant to the Company's 2010 Stock Incentive Plan, with an exercise price equal to the closing price of the Company's common stock reported through the facilities of the OTC Markets Group Inc. on the grant date (the "Stock Option"). The Stock Option will vest and become exercisable over a four year period based on continued service to the Company and will expire on the tenth anniversary of grant. In addition, Mr. Gibson will be eligible to receive discretionary annual long term incentive equity grants from the Company with a target equal to 30% of his base salary.

Mr. Gibson does not have any family relationships with any director or executive officer of the Company.

There are no transactions between Mr. Gibson and the Company that are required to be reported under Item 404(a) of Regulation S-K.

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