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ORBC > SEC Filings for ORBC > Form 8-K on 26-Nov-2012All Recent SEC Filings

Show all filings for ORBCOMM INC.

Form 8-K for ORBCOMM 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 November 19, 2012, ORBCOMM Inc. (the "Company") and Brian J. Bell, the Company's former Executive Vice President, Sales & Marketing, entered into an addendum to Mr. Bell's employment agreement dated November 8, 2010, to provide that in addition to certain compensation and benefits that Mr. Bell is entitled to receive pursuant to his employment agreement of 90 days of base salary continuation (a description of which is included in the Company's proxy statement for its 2012 Annual Meeting of Shareholders and incorporated herein by reference) as a result of his termination of employment with the Company, Mr. Bell will be entitled to receive, subject to the execution and delivery of a release agreement, (i) payment of an additional 90 days of base salary continuation, payable in accordance with the Company's payroll schedule and (ii) the right to continued vesting of 25,000 time-based stock appreciation rights vesting on December 31, 2012 that would have otherwise been terminated upon Mr. Bell's termination of employment.

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