BLACK HILLS CORPORATION (BKH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

BLACK HILLS CORPORATION (BKH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements for Certain Officers

(e) Compensatory Arrangements
On November 15, 2016, the Company entered into new Change in
Control Agreements (Agreements) with each of its senior executive
officers, David R. Emery, Linden R. Evans, Richard W. Kinzley,
Brian G. Iverson, Robert A. Myers and Scott A. Buchholz. The new
Agreements replace the Change in Control Agreements dated
November 15, 2013, that expired on November 15, 2016. The new
Agreements are substantially the same as the prior agreements
with a new three-year term expiring November 15, 2019.
The Agreement entered into with David R. Emery, our Chairman and
Chief Executive Officer, provides for a payment equal to 2.99
times the officers base salary and annual incentive target if
there is a Change in Control. The Agreement entered into with
each of the other senior executive officers provides for a
payment equal to two (2) times the officers base salary plus
annual incentive target if there is a Change in Control. The
specific benefits and the definition of a Change in Control are
fully described in the form of Agreements. Mr. Emerys Agreement
is attached as exhibit 10.1 and the form of Agreement for the
other senior executive officers is attached as Exhibit 10.2 to
this Current Report on Form 8-K are incorporated herein by
reference.
Item 9.01 Financial Statements and Exhibits
(a)
Exhibits
10.1
Change in Control Agreement dated November 15, 2016
between Black Hills Corporation and David R. Emery
10.2
Form of Change in Control Agreement dated November 15,
2016 between Black Hills Corporation and its Non-CEO
Senior Executive Officers


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