ATN INTERNATIONAL,INC. (NASDAQ:ATNI) 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 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
In the event of a Change of Control Involuntary Termination, the executive officer will be entitled to receive a lump sum cash payment in an amount equal to his or her Base Pay (one and one-half (1.5) times Base Pay in the case of the CEO), plus (b)the maximum bonus or similar incentive compensation opportunity for which the executive officer was eligible for the year in which the termination occurred (“Incentive Pay”) (one and one-half (1.5) times Incentive Pay in the case of the CEO) within sixty (60) days after the expiration of the Revocation Period (as defined in the Severance Agreements). In addition, during the Severance Period, the Company, subject to certain contingencies, will pay the Company portion of any COBRA continuation coverage under the Company’s group health plan. All Equity Compensation (as defined in the Separation Agreements) held by the executive officer on the termination date will become fully vested and/or exercisable as the case may be, and all stock options held by the executive officer will remain exercisable for the longer of (i)a period of twelve (12) months after the executive officer’s termination date, or (ii)the period set forth in the award agreement covering the option.
The foregoing description of the form of Severance Agreements does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Formof Severance Agreement for Chief Executive Officer and the Formof Severance Agreement with Non-CEO Named Executive Officer, copies of which have been filed herewith as Exhibits 10.1 and 10.2, and are hereby incorporated by reference.
ATN International, Inc. Exhibit
EX-10.1 2 a19-6809_1ex10d1.htm EX-10.1 Exhibit 10.1 EXECUTIVE AGREEMENT THIS EXECUTIVE AGREEMENT (this Agreement),…
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About ATN INTERNATIONAL,INC. (NASDAQ:ATNI)
ATN International, Inc, formerly Atlantic Tele-Network, Inc., is a holding company. The Company, through its subsidiaries, provides wireless and wireline telecommunications services in North America, Bermuda and the Caribbean; owns and operates commercial distributed generation solar power systems in the United States, and owns and operates terrestrial and submarine fiber optic transport systems in the United States and the Caribbean, respectively. The Company operates in five segments: U.S. Wireless, Island Wireless, U.S. Wireline, International Integrated Telephony and Renewable Energy. In the United States, it provides wholesale wireless voice and data roaming services in rural markets to national, regional, local and selected international wireless carriers. The Company provides wireless voice and data service to retail and business customers in Bermuda under the CellOne name. Its International Integrated Telephony segment includes wireless telephone service it offers in Guyana.