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CEDC > SEC Filings for CEDC > Form 8-K on 9-Nov-2012All Recent SEC Filings




Change in Directors or Principal Officers, Financial Statement

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

Entry into Employment Agreement with Mr. Bartosz Kolacinski, interim Chief Financial Officer

On November 9, 2012, Central European Distribution Corporation (the "Company") entered into an Interim Employment Agreement with Bartosz Kolacinski. The Employment Agreement is effective as of September 14, 2012 (the "Effective Date") which is the day on which Mr. Kolacinski was appointed interim Chief Financial Officer as disclosed in the Company's Form 8-K filed with the Securities and Exchange Commission on September 18, 2012. The Employment Agreement provides, among other things, that:

Mr. Kolacinski's term of employment under the Employment Agreement will continue until the earlier of January 14, 2013 or the 30th day following the date on which a permanent Chief Financial Officer commences employment with the Company. The term may be extended by mutual agreement of the parties.

Mr. Kolacinski's base salary during the term will be PLN 50,000 per month.

Mr. Kolacinski will be eligible to receive at the end of the term a bonus equal to PLN 40,000 (the "Bonus").

Mr. Kolacinski will be granted an equity award of 4,000 shares of the Company's common stock (the "Equity Award") which will be eligible to vest at the end of the term.

As additional benefits, Mr. Kolacinski will receive the use of a company car and health plan coverage.

If the Company terminates Mr. Kolacinski's employment other than for Cause (as defined in the Employment Agreement), disability or death, prior to the date on which a permanent Chief Financial Officer commences employment with the Company, or if Mr. Kolacinski terminates his employment after certain events occur without his consent, Mr. Kolacinski will be eligible to receive (i) payment of all accrued obligations, (ii) a lump sum payment equal to the base salary that would have been paid to Mr. Kolacinski had the term remained in effect, (iii) payment of the Bonus, and (iv) vesting of the Equity Award.

The foregoing summary is qualified in its entirety by reference to the full text of the Employment Agreement which is filed as Exhibit 10.1 to this Current Report on Form 8-K and which is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

  No.                                     Description

10.1         Interim Employment Agreement entered into as of September 14, 2012
             between Central European Distribution Corporation and Bartosz

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