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TST > SEC Filings for TST > Form 8-K on 25-Jul-2014All Recent SEC Filings

Show all filings for THESTREET, INC.

Form 8-K for THESTREET, INC.


Change in Directors or Principal Officers

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

Compensation of Chief Business Officer

On July 21, 2014, the Compensation Committee of the Board of Directors of TheStreet, Inc. (the "Company") approved severance protections for Mr. Erwin Eichmann, the Company's Chief Business Officer, in the event he is terminated without cause. Subject to the execution of a general release of claims in favor of the Company, if Mr. Eichmann is terminated without cause, he will be entitled to salary continuation following his termination of employment for a period equal to the greater of: (i) 6 months or (ii) four weeks per year of service, up to a maximum of 12 months.

In reaching its decision to provide severance protections to Mr. Eichmann, the Compensation Committee internally discussed Mr. Eichmann's value to the Company and the desire to provide Mr. Eichmann with severance protection to ensure Mr. Eichmann's continued focus on the Company. For this purposes of this agreement, "cause" generally will include willful misconduct or gross negligence, willful and material dishonesty or misappropriation of Company funds, properties or other assets, unexcused repeated absence from work, unauthorized disclosure of confidential information materially harmful to the Company, conviction of a felony involving fraud, dishonesty or moral turpitude, violation of federal or state securities laws, or breach of the performance of job duties, which is not cured within 30 days after notice.

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