AeroVironment, Inc. (NASDAQ:AVAV) Files An 8-k

AeroVironment, Inc.(NASDAQ:AVAV) and Doug Scott, its Senior Vice President and General Counsel, have agreed to a separation of Mr. Scott from the Company, effective October 3, 2016.  In discussions, Mr. Scott indicated he was retiring to pursue teaching opportunities.

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In connection with his separation, Mr. Scott executed a release of potential claims in favor of the Company and certain of its related parties.  In consideration for Mr. Scott’s execution of the release and upon its effectiveness, Mr. Scott is entitled to receive, as severance (i) a lump-sum cash payment of approximately $370,178, payable in January 2017, which represents an amount equal to the sum of Mr. Scott’s fiscal year 2017 base salary and his pro-rata bonus for his service during fiscal year 2017 and (ii) for the one-year period following the separation date, life insurance, disability, medical, dental and hospital benefits provided by the Company for himself and his dependents.

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