Apollo Global Management, LLC (NYSE:APO) 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 July19, 2017, Apollo Global Management, LLC (the “Company”) entered into a letter agreement with John Suydam, Chief Legal Officer of the Company, providing the terms of his continued employment by the Company (the “Employment Agreement”). The terms of the Employment Agreement are substantially similar to the terms of Mr.Suydam’s previous employment arrangements with the Company.
to the Employment Agreement, Mr.Suydam is entitled to receive an annual base salary at the rate of $2,000,000, and an annual equity-based award having an aggregate value of $500,000, which shall vest in equal annual installments over a three-year period. Mr.Suydam is entitled to participate in the Company’s employee benefit programs that generally are offered to similarly situated employees from time to time. If Mr.Suydam’s employment is terminated by the Company without cause or he resigns for good reason, the Company will pay him six months’ base pay and health insurance premiums for six months following his departure.
In addition, until one year after his employment terminates, Mr.Suydam is required to refrain from (1)soliciting or inducing clients, investors and other third parties to terminate their relationships with the Company, (2)interfering with or damaging Company business relationships, and (3)engaging in, entering the employ of, or acquiring a material financial interest in any competitive business.
The description of the terms of the Employment Agreement contained in this Current Report on Form 8-K does not purport to be complete and is qualified in its entirety by reference to the Employment Agreement, a copy of which will be filed as an exhibit to the Company’s Form 10-Q report for the fiscal quarter ending September30, 2017.
About Apollo Global Management, LLC (NYSE:APO)
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company operates through three segments: Private equity, Credit and Real estate. The Private equity segment invests in control equity and related debt instruments, convertible securities and distressed debt instruments. The Credit segment invests in non-control corporate and structured debt instruments, including performing, stressed and distressed instruments across the capital structure. The Real estate segment invests in real estate equity for the acquisition and recapitalization of real estate assets, portfolios, platforms and operating companies, and real estate debt, including first mortgage and mezzanine loans, preferred equity and commercial mortgage backed securities.
