TransDigm Group Incorporated (NASDAQ:TDG) 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 for Certain Officers. |
Amendments to Employment Agreements with Terrance Paradie and
Bernt Iversen III
Bernt Iversen III
On November 11, 2016, TransDigm Group Incorporated (the Company)
and Mr. Terrance Paradie, Executive Vice President and Chief
Financial Officer of the Company, entered into a Second Amendment
to Employment Agreement and the Company and Mr. Bernt Iversen,
Executive Vice President Mergers Acquisitions and Business
Development of the Company, entered into a Fourth Amendment to
Employment Agreement (collectively, the Amendments). The purpose
of the Amendments was to change the target bonuses for Mr.
Paradie and Mr. Iversen, commencing in fiscal year 2017, from 65%
of their respective base salaries to 80% of their respective base
salaries, to make their total cash compensation more aligned with
market conditions.
and Mr. Terrance Paradie, Executive Vice President and Chief
Financial Officer of the Company, entered into a Second Amendment
to Employment Agreement and the Company and Mr. Bernt Iversen,
Executive Vice President Mergers Acquisitions and Business
Development of the Company, entered into a Fourth Amendment to
Employment Agreement (collectively, the Amendments). The purpose
of the Amendments was to change the target bonuses for Mr.
Paradie and Mr. Iversen, commencing in fiscal year 2017, from 65%
of their respective base salaries to 80% of their respective base
salaries, to make their total cash compensation more aligned with
market conditions.
The foregoing description of the terms of the Amendments is
qualified in its entirety by the full text of the Amendments,
copies of which are filed herewith as Exhibits 10.1 and 10.2.
qualified in its entirety by the full text of the Amendments,
copies of which are filed herewith as Exhibits 10.1 and 10.2.
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Item 9.01.
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Financial Statements and Exhibits.
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(d) Exhibits
The following exhibit is being filed with this Current Report on
Form 8-K:
Form 8-K:
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Exhibit 10.1
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Second Amendment to Employment Agreement, dated
November 11, 2016, between TransDigm Group Incorporated and Terrance Paradie |
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Exhibit 10.2
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Fourth Amendment to Employment Agreement, dated
November 11, 2016, between TransDigm Group Incorporated and Bernt Iversen |
About TransDigm Group Incorporated (NASDAQ:TDG)
