CENTRAL EUROPEAN MEDIA ENTERPRISES LTD. (NASDAQ:CETV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(e)On December 21, 2017, CME Media Services Limited (“CME MS”), a wholly owned subsidiary of Central European Media Enterprises Ltd. (the “Company”), entered into an amended and restated employment agreement with Mr. Michael Del Nin, co-Chief Executive Officer of the Company (the “MDN Amended and Restated Contract”), which amends and restates his amended and restated contract of employment dated July 1, 2016 (filed with the SEC on July 1, 2016 as Exhibit 10.1 to the Company’s Current Report in Form 8-K) (as amended). The MDN Amended and Restated Contract, in relevant part, clarifies the circumstances when CME MS would be in material breach of the employment agreement and sets out certain other circumstances that may, following specified triggers, result in a material breach. In addition, the MDN Amended and Restated Contract establishes a mechanism for the settlement of Mr. Del Nin’s severance entitlement following specified triggers and provides for the reimbursement of his legal fees by CME MS in certain circumstances.
On December 21, 2017, CME MS entered into an amended and restated employment agreement with Mr. Christoph Mainusch, co-Chief Executive Officer of the Company (the “CM Amended and Restated Contract”), which amends and restates his amended and restated contract of employment dated July 1, 2016 (filed with the SEC on July 1, 2016 as Exhibit 10.2 to the Company’s Current Report in Form 8-K) (as amended). The CM Amended and Restated Contract, in relevant part, clarifies the circumstances when CME MS would be in material breach of the employment agreement and sets out certain other circumstances that may, following specified triggers, result in a material breach. In addition, the CM Amended and Restated Contract establishes a mechanism for the settlement of Mr. Mainusch’s severance entitlement following specified triggers and provides for the reimbursement of his legal fees by CME MS in certain circumstances.
On December 21, 2017, CME MS entered into an amended and restated employment agreement with Mr. Daniel Penn, General Counsel of the Company (the “DP Amended and Restated Contract”), which amends and restates his contract of employment dated February 20, 2012 (filed with the SEC as Exhibit 10.47 to the Company’s Annual Report on Form 10-K for the fiscal period ended December 31, 2011) (as amended). The DP Amended and Restated Contract, in relevant part, clarifies the circumstances when CME MS would be in material breach of the employment agreement and sets out certain other circumstances that may, following specified triggers, result in a material breach. In addition, the DP Amended and Restated Contract establishes a mechanism for the settlement of Mr. Penn’s severance entitlement following specified triggers and provides for the reimbursement of his legal fees by CME MS in certain circumstances.
On December 21, 2017, CME MS entered into an amended and restated employment agreement with Mr. David Sturgeon, Chief Financial Officer of the Company (the “DS Amended and Restated Contract”), which amends and restates his amended and restated contract of employment dated July 27, 2010 (filed with the SEC as Exhibit 10.9 to the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2010) (as amended). The DS Amended and Restated Contract, in relevant part, clarifies the circumstances when CME MS would be in material breach of the employment agreement and sets out certain other circumstances that may, following specified triggers, result in a material breach. In addition, the DS Amended and Restated Contract establishes a mechanism for the settlement of Mr. Sturgeon’s severance entitlement following specified triggers and provides for the reimbursement of his legal fees by CME MS in certain circumstances.
The above descriptions of the MDN Amended and Restated Contract, the CM Amended and Restated Contract, the DP Amended and Restated Contract and the DS Amended and Restated Contract are incomplete and qualified in their entirety by reference to the complete text of such agreements, copies of which are attached as Exhibits 10.1, 10.2, 10.3 and 10.4 to this Current Report on Form 8-K and are incorporated herein by reference.
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Item 9.01 |
Financial Statements and Exhibits |
Exhibit Index
CENTRAL EUROPEAN MEDIA ENTERPRISES LTD ExhibitEX-10.1 2 ex101december222017.htm EXHIBIT 10.1 Wdesk | Exhibit Exhibit 10.1DATEDDecember 21,…To view the full exhibit click here
About CENTRAL EUROPEAN MEDIA ENTERPRISES LTD. (NASDAQ:CETV)
Central European Media Enterprises Ltd. (CME Ltd.) is a media and entertainment company operating in Central and Eastern Europe. The Company’s assets are held through a series of Dutch and Curacao holding companies. The Company manages its business on a geographical basis, with six segments: Bulgaria, Croatia, the Czech Republic, Romania, the Slovak Republic and Slovenia. It has broadcast operations in over six countries in Central and Eastern Europe, broadcasting a total of approximately 40 television channels. The Company enters into agreements with advertisers, advertising agencies and sponsors to place advertising on the television channels that the Company operates. The Company collects fees from cable and direct-to-home (DTH) operators for carriage of its channels. The programming that it provides consists of locally-produced news, current affairs, fiction, and reality and entertainment shows, as well as acquired foreign movies, series and sports programming.