CENTURY COMMUNITIES, INC. (NYSE:CCS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On January2, 2018, Century Communities, Inc., a Delaware corporation (the “Company”), entered into Aircraft Time Sharing Agreements (the “Aircraft Time Sharing Agreements”) with each of its Co-Chief Executive Officers, Dale Francescon and Robert J. Francescon, and Chief Financial Officer, David Messenger. to the Aircraft Time Sharing Agreements, the Company will lease the Company’s corporate aircraft (the “Aircraft”), with a fully qualified flight crew, to the executives from time to time on a non-exclusive basis. The lease rate payable by the executives thereunder equals the aggregate incremental per hour cost of each flight, as such cost is described in detail in the Aircraft Time Sharing Agreements. Use of the Aircraft by the executives is subject to prior approval of the Co-Chief Executive Officers of the Company, and is at all times subordinate to use by the Company. Each of the Aircraft Time Sharing Agreements has an initial term of one (1)year, and provides for automatic one-year extensions after the expiration of the initial term, unless (i)either party provides the other with at least thirty (30)days’ prior written notice of non-renewal, or (ii)the agreement is terminated on shorter notice as may be required to comply with applicable law, the requirements of any insurance requirements or upon the sale of the Aircraft.
The foregoing summary of the Aircraft Time Sharing Agreements does not purport to be complete and is qualified in its entirety by reference to the complete terms of the Aircraft Time Sharing Agreements, which are filed as Exhibits 10.1, 10.2, and 10.3 to this Current Report on Form 8-K and incorporated herein by reference.
| Item 1.01. | Financial Statements and Exhibits. |
(d) Exhibits.
|
Exhibit Number |
Description |
| 10.1 | Aircraft Time Sharing Agreement, dated as of January2, 2018, by and between the Company and Dale Francescon. |
| 10.2 | Aircraft Time Sharing Agreement, dated as of January2, 2018, by and between the Company and Robert J. Francescon. |
| 10.3 | Aircraft Time Sharing Agreement, dated as of January2, 2018, by and between the Company and David Messenger. |
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EXHIBIT INDEX
Century Communities, Inc. ExhibitEX-10.1 2 d515475dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 AIRCRAFT TIME SHARING AGREEMENT This Aircraft Time Sharing Agreement (the “Agreement”) is entered into as of January 2,…To view the full exhibit click here
