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DGX > SEC Filings for DGX > Form 8-K on 25-Oct-2011All Recent SEC Filings

Show all filings for QUEST DIAGNOSTICS 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.

(b) On October 25, 2011, the Board of Directors of Quest Diagnostics Incorporated (the "Company") announced that it has begun the process of identifying a successor to Surya N. Mohapatra, Ph.D., the Company's President, Chief Executive Officer and Chairman of its Board of Directors. In conjunction with commencing the succession process, the Company and Dr. Mohapatra agreed that Dr. Mohapatra will continue his employment with the same titles, duties and responsibilities until the earlier of the date his successor is appointed or April 30, 2012. In order to ensure an orderly transition, for any period after his successor is appointed through April 30, 2012, Dr. Mohapatra has agreed to continue on as Executive Chairman. The Company and Dr. Mohapatra agreed that no 2012 long-term incentive award or award opportunity will be granted to him. Upon his termination of employment, Dr. Mohapatra will receive the benefits he is entitled to under Section 11(e) of his employment agreement with the Company, except that if the Company terminates his employment prior to April 30, 2012, for purposes of such benefits, he will be deemed to have remained employed through April 30th. The Company and Dr. Mohapatra entered into a letter agreement memorializing these agreements. The letter agreement with Dr. Mohapatra is attached as Exhibit 10.1 and is incorporated herein by reference.

Item 9.01.      Financial Statements and Exhibits.

(d)      Exhibits.

Number   Description

10.1     Letter Agreement between Dr. Surya N. Mohapatra and the Company, dated
         October 21, 2011

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