Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
Retirement of Kevin Palatnik
On August 20, 2020, Coherent, Inc. (the "Company") and Kevin Palatnik, the
Company's Executive Vice President and Chief Financial Officer, entered into an
agreement (the "Agreement") pursuant to which Mr. Palatnik will retire from the
Company no later than February 28, 2021. The Agreement provides that
Mr. Palatnik will transition to a special advisor to the Company in connection
with the appointment of his successor by the Company's Board of Directors. Under
the Agreement, Mr. Palatnik will receive the "Change in Leadership Severance
Benefits" under the Company's Change of Control and Leadership Change Severance
Plan, subject to the requirements thereof to provide an effective release.
The foregoing description of the Agreement is a summary and is qualified in its
entirety by the terms of the Agreement, a copy of which will be filed with the
Company's Annual Report on Form 10-K for its fiscal year ending October 3, 2020.
On August 20, 2020, the Company issued a press release announcing Mr. Palatnik's
retirement. The press release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit No. Description
99.1 Press release dated August 20, 2020
104 Cover Page Interactive Data File (embedded within the inline XBRL
document)
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