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END > SEC Filings for END > Form 8-K on 2-Nov-2012All Recent SEC Filings




Change in Directors or Principal Officers, Financial Statements and

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

Endeavour International Corporation (the "Company") previously reported that on October 29, 2012, J. Michael Kirksey submitted his resignation as the Company's Executive Vice President and Chief Financial Officer. On that same date and in connection with his resignation, the Company entered into a Separation Agreement and General Release (the "Separation Agreement") with Mr. Kirksey.

Pursuant to the Separation Agreement, Mr. Kirksey will be entitled to receive
(a) a lump sum payment of $118,750, (b) accelerated vesting of 36,564 shares of restricted stock, and (c) continuing health insurance and related benefits for 90 days following his resignation. Mr. Kirksey acknowledged satisfaction of all other amounts owed to him by the Company, including wages and unvested shares of restricted stock. Mr. Kirksey also granted the Company a general release of liability and claims. Finally, the Separation Agreement subjects Mr. Kirksey to customary cooperation, non-disparagement, non-solicitation and confidentiality obligations.

Pursuant to its terms, Mr. Kirksey may revoke his agreement to enter into the Separation Agreement for seven days following its execution. If Mr. Kirksey exercises his revocation right, the Separation Agreement shall cease to be in effect and shall be treated as if it had never been executed.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1 Separation Agreement and General Release by and between Endeavour International Corporation and J. Michael Kirksey dated as of October 29, 2012.

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