Can somebody here (maybe basedan) elaborate more about this part of the agreement that , on purpose or not, was omitted from the NR:
tem 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 4, 2015, Company entered into an Amendment to Amended and Restated Employment Agreement (the "Amendment") with each of Timothy Barry, the Company's Chief Executive Officer, Sean Fallis, the Company's Chief Financial Officer, and Brian Edgar, the Company's Chairman.
The Amendment expanded the definition of "Change of Control," upon which amounts may be payable by the Company to each of Messrs. Barry, Fallis and Edgar, to include a transaction or series of transactions by which any person, entity or group acquires beneficial ownership of at least 20% of the Company's securities entitled to vote in the election of directors, and a majority of the Company's board of directors resigns and is replaced with nominees designated by such person, entity or group.
The foregoing description of the Amendment to Amended and Restated Employment Agreement is qualified in its entirety by reference to the form of Amendment to Amended and Restated Employment Agreement attached hereto as Exhibit 10.1, which is hereby incorporated by reference into this Item 5.02.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 10.1 Form of Amendment to Amended and Restated Employment Agreement, dated June 4, 2015, by and between the Company and each of Timothy Barry, Sean Fallis and Brian Edgar. |
