Advanced Drainage Systems, Inc. (NYSE:WMS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On March16, 2018, Thomas M. Fussner submitted to the Board of Directors of Advanced Drainage Systems, Inc. (the “Company”) notice of his retirement as Executive Vice President and Co-Chief Operating Officer of the Company, effective as of March31, 2018.
In connection therewith, the Company and Mr.Fussner entered into a First Amendment to Amended and Restated Executive Employment Agreement dated as of March16, 2018 (the “Amendment”), amending that certain Amended and Restated Executive Employment Agreement dated as of June20, 2014 by and between the Company and Mr.Fussner (the “Executive Employment Agreement”). The Amendment amends the Executive Employment Agreement to reflect the employment period continuing through and terminating as of the close of business on March31, 2018 and to reflect Mr.Fussner’s retirement age. The Amendment also provides for the Company’s payment of Mr.Fussner’s premiums for up to 18 months of COBRA continuation coverage and the execution by Mr.Fussner of the form of Release set forth as Exhibit A to the Amendment. The Company and Mr.Fussner also entered into a Consulting Agreement, to be effective April1, 2018, to which Mr.Fussner has agreed to provide certain consulting services to the Company until March31, 2019.
The foregoing descriptions of the Amendment and the Consulting Agreement are qualified in their entirety by reference to the full text of the Amendment and the Consulting Agreement, which are attached as Exhibit 10.1 and Exhibit 10.2 to this Current Report on Form 8-K and incorporated in this Item 5.02 by reference.
|Item 5.02||Financial Statements and Exhibits.|
ADVANCED DRAINAGE SYSTEMS, INC. ExhibitEX-10.1 2 d537962dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 ADVANCED DRAINAGE SYSTEMS,…To view the full exhibit click
About Advanced Drainage Systems, Inc. (NYSE:WMS)
Advanced Drainage Systems, Inc. is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States. The International segment manufactures and markets products in certain regions outside of the United States, with a focus on its owned facilities in Canada and through its joint ventures with local partners in Mexico, Central America and South America. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products. Its products are used across a range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. Advanced Drainage Systems, Inc. (NYSE:WMS) Recent Trading Information
Advanced Drainage Systems, Inc. (NYSE:WMS) closed its last trading session up +0.20 at 26.80 with shares trading hands.