EDGEWATER TECHNOLOGY, INC. (NASDAQ:EDGW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
ITEM5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS
On May 3, 2017, Edgewater Technology, Inc. (the Company) entered
into a Fourth Amendment to Employment Agreement (each, a Fourth
Amendment and collectively, the Fourth Amendments) with each of
Shirley Singleton, the Companys former President and Chief
Executive Officer, and David Clancey, the Companys former
Executive Vice President, Chief Strategy Officer and Chief
Technology Officer (each, an Employee). The Fourth Amendments
amend certain severance provisions in each Employees respective
Employment Agreement with the Company, dated as of June12, 2007,
which was subsequently amended on December17, 2010, December4,
2013 and December2, 2016 (each, as amended, an Employment
Agreement and collectively, the Employment Agreements).
The Board of Directors of the Company previously terminated
Ms.Singletons employment as of March8, 2017 and Mr.Clanceys
employment as of March16, 2017. Prior to the execution of the
Fourth Amendments, each Employee was entitled to health, dental,
life and disability insurance for a period of two years following
the date of termination of employment. Each Fourth Amendment
amended the severance provisions of the applicable Employment
Agreement to exclude life and disability insurance from the
severance package and to extend the health and dental insurance
coverage to a period of three years following termination of
employment.
The description of the Fourth Amendments is qualified in its
entirety by reference to the complete agreements, copies of which
are filed herewith as Exhibits 10.1 and 10.2 and are incorporated
herein by reference.
ITEM9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits.
|
ExhibitNumber |
Description of Exhibit |
|
| 10.1 |
Fourth Amendment to Employment Agreement by and among Edgewater Technology, Inc. and ShirleySingleton, dated as of May 3, 2017. |
|
| 10.2 |
Fourth Amendment to Employment Agreement by and among Edgewater Technology, Inc. and DavidClancey, dated as of May 3, 2017. |
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About EDGEWATER TECHNOLOGY, INC. (NASDAQ:EDGW)
Edgewater Technology, Inc. is a provider of transformational classic and product-based consulting services. The Company helps the C-suite drive transformational change through its selection of business and technology services, and channel-based solutions. The classic consulting disciplines (such as business advisory, process improvement, organizational change management, mergers and acquisitions (M&A) due diligence, and domain expertise) are blended with technical services (digital transformation, technical roadmaps, data and analytics services, custom development and system integration) to help organizations leverage investments in legacy information technology (IT) assets. It offers a range of consulting services, such as classic consulting and product-based consulting. In addition, it also provides synergistic services in the area of data management and analytics, such as enterprise information management services and analytics services. EDGEWATER TECHNOLOGY, INC. (NASDAQ:EDGW) Recent Trading Information
EDGEWATER TECHNOLOGY, INC. (NASDAQ:EDGW) closed its last trading session down -0.20 at 7.07 with 7,761 shares trading hands.
