ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
Compensatory Arrangements of Certain Officers
Compensation Reductions and Amendments to Severance Compensation Agreements
On
On
In connection with the temporary salary reductions for certain of the Named Officers, the Board of Directors approved amendments to the Agreements. Pursuant to these amendments, the temporary salary reductions will not be taken into account in calculating severance benefits, which will be calculated using the pre-reduction base salary, and the Named Officers agree that the reductions do not constitute an event or circumstance included within the definition of "Good Reason" in the Agreements, such that the Named Officers may not voluntarily terminate employment for "Good Reason" and claim severance benefits under the Agreements.
This description of the Agreements and amendment to the Agreements above is merely a summary and is qualified in its entirety by reference to the Form of Amendment to Severance Compensation Agreement attached to this Current Report on Form 8-K as Exhibit 10.1 and the form of amendment attached to this Current Report on Form 8-K as Exhibit 10.2.
2 ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS D. Exhibits Exhibit No. Description 10.1 Form of Severance Compensation Agreement (filed as Exhibit 10.1 to Registrant's Form 8-K filed onMarch 13, 2020 (Commission File No. 001-31446) as incorporated by reference) 10.2 Form of Amendment to Severance Compensation Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3
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