Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On April 5, 2022, Daniel J. White became employed by Cross Country Healthcare,
Inc. ("Cross Country" or the "Company") as its Chief Commercial Officer.
Prior to joining the Company, Mr. White, age 60, served as President, Workforce
Solutions at AMN Healthcare Services, Inc. from May 2014 to September 2021. From
October 2021 through March 2022, he served as CEO of Healthcareteams, Inc.
Mr. White has executed an offer letter with the Company, which provides for an
annual base salary of $450,000, which is subject to annual review by the
Compensation Committee of the Company's Board of Directors (the "Compensation
Committee"). Mr. White will be eligible to participate in the Company's annual
bonus plan with a target bonus of 100% of his base salary, based on achieving
performance goals to be established by the Compensation Committee. In addition,
Mr. White will be eligible to participate in the Company's long term incentive
plan and receive annual awards valued at 85% of Base Salary (at target). Such
awards will be upon terms and conditions determined by the Compensation
Committee. Mr. White is also eligible to participate in all other benefit plans
and fringe benefit arrangements available to the Company's senior executives.
Pursuant to the terms of his offer letter, Mr. White is entitled to participate
in the Company's amended and restated executive severance agreement. He will be
entitled to receive a one-year payout and other benefits upon a change of
control (pursuant to the terms and conditions in the executive severance
agreement at that time). The foregoing description of the offer letter does not
purport to be complete and is qualified in its entirety by reference to the
offer letter that the Company expects to file with its Quarterly Report on Form
10-Q for the quarter ended March 31, 2022.
Item 7.01 Regulation FD Disclosure
On April 7, 2022, the Company issued a press release announcing Mr. White's
appointment as Chief Commercial Officer. A copy of this press release is
furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in
Item 7.01 of this Current Report on Form 8-K and the information contained in
Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, and is not incorporated by
reference into any of the Company's filings under the Securities Act of 1933, as
amended.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Description
99.1 Press Release dated April 7, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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