Bridgford Foods Corporation (NASDAQ:BRID) 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.
Appointment of Director
On August 12, 2019, the Board of Directors (the “Board”) of Bridgford Foods Corporation (the “Company”) appointed Allan L. Bridgford Sr. as a director to fill the previously disclosed vacancy created by the resignation of Bruce H. Bridgford. Allan L. Bridgford Sr. previously served on the Company’s Board prior to his retirement from the Board on October 10, 2011. Mr. Bridgford has been an employee of the Company since 1957 and continues to serve as a member of the Executive Committee of the Company, a position he has held since 1972.
Entry Into Consulting Agreement
On August 12, 2019, the Company entered into a consulting agreement with Allan L. Bridgford Sr., to which the Company will engage Mr. Bridgford to provide consulting services to the Company, commencing after his retirement from employment with the Company (including, without limitation, his position as Vice President and Chairman of the Executive Committee of the Company).
Under the terms of the consulting agreement, Mr. Bridgford will provide to the Company consulting services, including, but not limited to, business development and strategic partnering, commencing on the date of his retirement and until such agreement is terminated by either party upon at least thirty (30) days’ notice to the other party. Mr. Bridgford will be compensated at a rate of $20,833.33 per month and will be reimbursed for all reasonable out of pocket expenses incurred in rendering such services.
A copy of the agreement is filed herewith as Exhibit 10.1 to this Report and is incorporated herein by reference. The foregoing description of the agreement does not purport to be complete and is qualified in its entirety by reference to such Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| 10.1 | Consulting Agreement, dated August 12, 2019, by and between Bridgford Foods Corporation and Allan L. Bridgford Sr. |
BRIDGFORD FOODS CORP Exhibit
EX-10.1 2 ex10-1.htm CONSULTING AGREEMENT THIS CONSULTING AGREEMENT (this “Agreement”) is entered into as of the 12th day of August 2019,…
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About Bridgford Foods Corporation (NASDAQ:BRID)
Bridgford Foods Corporation is engaged in the manufacturing, marketing and distribution of a range of frozen and snack food products throughout the United States. The Company operates in two business segments, which include the processing and distribution of frozen products, and the processing and distribution of snack food products. The Company’s frozen food products segment serves both food service and retail customers. The Company, through its frozen food products segment, sells approximately 160 frozen food products through wholesalers, cooperatives and distributors to approximately 21,000 retail outlets and over 23,000 restaurants and institutions. The Company through snack food products segment sells approximately 90 different items through customer owned distribution centers and a direct store delivery network serving approximately 15,000 supermarkets, mass merchandise and convenience retail stores located in over 45 states.
