Lumber Liquidators Holdings, Inc. (NYSE:LL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On June 29, 2017, Lumber Liquidators, Inc., a wholly-owned
subsidiary of Lumber Liquidators Holdings, Inc. (the Corporation)
and its affiliated entities (collectively, the Company) and
Gregory A. Whirley, Jr. agreed to terminate Mr. Whirleys role as
Senior Vice President, Finance and Risk Management, effective as
of August 11, 2017. In connection with such termination, the
Company and Mr. Whirley entered into a Separation and Release
Agreement (the Agreement), dated June 29, 2017. Under the
Agreement, Mr. Whirley will receive 52 weeks of pay at his
regular base rate of pay as of August 11, 2017 (the Separation
Pay). In addition to the Separation Pay, the Company will pay Mr.
Whirley an additional $100,000 over such 52-week period. As
consideration for these severance payments, the Agreement
contains customary cooperation, non-competition,
non-solicitation, confidentiality, non-interference with
contracts, non-disparagement and release of legal claims
provisions.
The foregoing summary of the Agreement does not purport to be
complete and is qualified in its entirety by reference to the
full text of the Agreement, a copy of which is attached as
Exhibit 10.1 and is incorporated by reference into this Form 8-K.
| Item 8.01 | Other Events. |
On June 30, 2017, the Corporation issued a press release
announcing the hiring of Michael L. Reeves as Chief Legal Officer
and Corporate Secretary, whose first day of employment was June
29, 2017. Beginning on June 29, 2017, Jill Witter will continue
to serve as the Corporations Chief Compliance Officer. A copy of
the press release is being furnished as Exhibit 99.1 to this
report and is incorporated by reference into this Item 8.01.
| Item 9.01 | Financial Statements and Exhibits. |
(d)Exhibits.
| Exhibit No. | Description |
| 10.1 |
Separation and Release Agreement, between Lumber Liquidators, Inc. and its affiliated entities and Gregory Whirley, dated June 29, 2017 |
| 99.1 | Press release dated June 30, 2017 |
Lumber Liquidators Holdings, Inc. ExhibitEX-10.1 2 v470057_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 SEPARATION AND RELEASE AGREEMENT This Separation and Release Agreement (the "Agreement"),…To view the full exhibit click here About Lumber Liquidators Holdings, Inc. (NYSE:LL)
Lumber Liquidators Holdings, Inc. (Lumber Liquidators) is a multi-channel specialty retailer of hardwood flooring, and hardwood flooring enhancements and accessories. The Company offers an assortment of exotic and domestic hardwood species, engineered hardwood, laminate and resilient vinyl flooring direct to the consumer. It also features the renewable flooring products, bamboo and cork, and provides a selection of flooring enhancements and accessories, including moldings, noise-reducing underlay, adhesives and flooring tools. The Company also provides in-home delivery and installation services to certain of its customers. Its product categories include Solid and Engineered Hardwood; Laminate; Bamboo, Cork and Vinyl Plank, and Moldings and Accessories. The Company sells its products primarily to homeowners or to contractors on behalf of homeowners. Lumber Liquidators operates over 375 stores located in over 50 states and Canada. It has over 370 the United States stores in operation.
