CALAMP CORP. (NASDAQ:CAMP) 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.
On February 28, 2019, Garo Sarkissian informed CalAmp Corp. (the “Company”) that he would retire from his position as Senior Vice President of Corporate Development, and from all other positions he held with the Company or its subsidiaries, effective February 28, 2019 (the “Retirement Date”). In connection with Mr. Sarkissian’s retirement, the Company and Mr.Sarkissian entered into a Separation and General Release Agreement (the “Separation Agreement”).Mr.Sarkissian advised the Company that his decision to retire is for personal reasons and was not the result of any dispute or disagreement with the Company.
to the Separation Agreement: (i) Mr. Sarkissian will receive three-months’ base salary, or $75,000 in the aggregate; (ii) for a ten-month period following the Retirement Date,the Company will pay the premiums in connection with Mr. Sarkissian’s participation in the Company’s health, dental and vision plans; and (iiii) on the Retirement Date, all ofMr. Sarkissian’sunvested equity in the Company will fully accelerate and become vested.
The foregoing are summaries of the material terms of the Separation Agreement, and do not purport to be a complete description of the rights and obligations of the parties thereunder. The summary of the Separation Agreement is qualified in its entirety by reference to the full text of the Separation Agreement, which is filed as an exhibit to this Current Report on Form 8-K, and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
CalAmp Corp. Exhibit
EX-10.1 2 camp-ex101_6.htm EX-10.1 camp-ex101_6.htm Exhibit 10.1 SEPARATION AGREEMENT AND GENERAL RELEASE This Separation Agreement and General Release (the “Agreement”) is made as of the Effective Date (defined below) between CalAmp Corp. (on behalf of itself,…
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About CALAMP CORP. (NASDAQ:CAMP)
CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere. The Company’s MRM and M2M solutions collect, monitor and report data and intelligence from remote and mobile assets. The Company delivers products, software services and solutions for energy, government, transportation and automotive vertical markets. The Company’s Satellite segment develops, manufactures and sells direct-broadcast satellite (DBS) outdoor customer premise equipment and whole home video networking devices enabling the delivery of digital and high definition satellite television services. Its satellite products are sold primarily to EchoStar.