Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On
In connection with Ms. Breves' announcement, the Corporation and Ms. Breves have entered into a Special Transition Agreement and Release (the "Agreement"). Under the terms of the Agreement, Ms. Breves shall generally be entitled to compensation consistent with her prior compensation arrangements through the end of the year. Ms. Breves will also receive payment for accrued and unused vacation time and will be eligible to receive accrued and vested benefits under certain of the Corporation's retirement and benefit plans.
In addition, in recognition of her service to the Corporation and provided that
Ms. Breves does not revoke the Agreement and timely signs and does not revoke
the related General Release (as described below), (i) the Corporation will pay
Ms. Breves
Pursuant to the Agreement, Ms. Breves will execute a customary General Release of claims she may have against the Corporation and has agreed: (i) generally not to directly or indirectly compete with the Corporation for a period of 12 months, (ii) to cooperate with and assist the Corporation with respect to matters about which she has personal knowledge or which were within the purview of her job responsibilities at the Corporation (iii) not to solicit the Corporation's employees and other relevant agents for a one year period, (iv) not to disclose the Corporation's confidential information and trade secrets and (v) not to disparage the Corporation, its products, services and relevant agents.
The foregoing summary of the Agreement does not purport to be complete and is
qualified in its entirety by reference to the Agreement, a copy of which will be
filed with the Corporation's Form 10-Q for the quarter ended
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
The following exhibit is filed herewith:
Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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