Adeptus Health Inc. (NASDAQ:ADPT) 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.
As previously reported, Graham B. Cherringtons employment as
President and Chief Operating Officer of Adeptus Health Inc. (the
Company) terminated on December2, 2016. On December15, 2016, the
Company and Mr.Cherrington entered into a Separation and Release
Agreement (the Separation Agreement).
Subject to the terms and conditions of the Separation Agreement,
Mr.Cherrington will be entitled to the following benefits: (i)a
cash payment equal to $550,000, subject to standard payroll
deductions and withholdings, paid in equal installments per the
Companys payroll practices over a period of 12 months;
(ii)payment of the employer portion of health insurance premiums
for health insurance coverage for a period of 12 months; and
(iii)tax return preparation services for his 2016 federal tax
return.
The foregoing is a summary description of certain terms of the
Separation Agreement and does not purport to be complete, and it
is qualified in its entirety by reference to the full text of the
Separation Agreement, a copy of which is filed as Exhibit10.1 to
this Current Report and incorporated herein by reference.
Item9.01. Financial Statements and
Exhibits.
(d)Exhibits.
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Exhibit No. |
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DescriptionofExhibit |
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10.1 |
Separation and Release Agreement dated December15, 2016 by |
About Adeptus Health Inc. (NASDAQ:ADPT)