CELADON GROUP, INC. (NYSE:CGI) 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
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Meek, the former President and Chief Operating Officer of Celadon
Group, Inc., a Delaware corporation (the Company), resigned. In
connection with his resignation, on May 12, 2017, Mr. Meek and
the Company entered into a Resignation and Consulting Agreement,
General Release, and Non-Competition, Non-Disclosure and
Non-Solicitation Agreement (the Consulting Agreement). Under the
Consulting Agreement, the Company will pay Mr. Meek $20,000 per
month for ten months in exchange for Mr. Meek (i) providing
certain consulting services that may be requested by the Company
during the ten month period and (ii) agreeing to certain release,
non-competition, non-solicitation, non-disparagement, and
non-disclosure covenants. The description of the Consulting
Agreement does not purport to be complete and is qualified in its
entirety by the full text of the Consulting Agreement, which is
filed herewith as Exhibit 10.1.
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(d)
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Exhibits.
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EXHIBIT
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NUMBER
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EXHIBIT DESCRIPTION
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10.1
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Resignation and Consulting Agreement, General Release, and
Non-Competition, Non-Disclosure and Non-Solicitation Agreement between Celadon Group, Inc. and William Eric Meek |
About CELADON GROUP, INC. (NYSE:CGI)
Celadon Group, Inc. (Celadon) is a truckload freight transportation provider. The Company’s segments are asset-based, asset-light, and equipment leasing and services. Its services involve point-to-point shipping for its customers within the United States, between the United States and Mexico, and between the United States and Canada. The Company’s primary asset-based services include the United States domestic dry van, refrigerated and flatbed service; cross-border service between the United States and each of Mexico and Canada; intra-Mexico and intra-Canada service; contract service; regional and specialized short haul service, and rail intermodal service. The Company’s primary asset-light services include freight brokerage, warehousing, less-than truckload consolidation and supply chain logistics services. Celadon’s equipment leasing and services segment consists primarily of leasing activities with independent contractors and other trucking fleets. CELADON GROUP, INC. (NYSE:CGI) Recent Trading Information
CELADON GROUP, INC. (NYSE:CGI) closed its last trading session down -0.05 at 1.95 with 1,581,921 shares trading hands.