CHS Inc. (NASDAQ:CHSCL) 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.
On March 15, 2018, Shirley Cunningham notified CHS Inc. (the “Company”) that she will retire from the Company and her position as Executive Vice President, Ag Business and Enterprise Strategy, effective May 4, 2018.
In order to ensure an orderly transition of Ms. Cunningham’s duties, as well as set forth points of agreement relating to certain post-employment topics, the Company and Ms. Cunningham entered into a letter agreement on March 15, 2018 (the “Letter Agreement”). The Letter Agreement provides that, until May 4, 2018, Ms. Cunningham will continue working in her current role as the Company’s Executive Vice President, Ag Business and Enterprise Strategy, subject to any changes that the Company’s President and Chief Executive Officer, Jay Debertin, may make to facilitate the transition of Ms. Cunningham’s duties. to the Letter Agreement following the end of her employment, Ms. Cunningham will be subject to customary confidentiality and cooperation covenants, as well as one-year non-competition and non-solicitation covenants, in each case, as further described in the Letter Agreement. In consideration of Ms. Cunningham’s post-employment obligations under the Letter Agreement, the Letter Agreement also provides for Ms. Cunningham to be paid $237,000 within 60 days after the date on which her employment with the Company ends, less applicable tax withholdings. Such payment is subject to Ms. Cunningham’s compliance with all of her post-employment obligations under the Letter Agreement.
The foregoing description of the Letter Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Letter Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01.Financial Statements and Exhibits.
Letter Agreement, dated as of March 15, 2018, between Shirley Cunningham and CHS Inc.
CHS INC ExhibitEX-10.1 2 agreementletter.htm EXHIBIT 10.1 Exhibit Exhibit 10.1March 15,…To view the full exhibit click
About CHS Inc. (NASDAQ:CHSCL)
CHS Inc. is an integrated agricultural company, providing grain, foods and energy resources to businesses and consumers on a global basis. The Company’s segments include Energy, Ag, Nitrogen Production, Foods, and Corporate and Other. The Energy segment derives its revenues through refining, wholesaling and retailing of petroleum products. The Company’s Ag segment includes its grain marketing, country operations, crop nutrients, processing and food ingredients, and renewable fuels businesses. The Nitrogen production segment consists equity method investment in CF Industries Nitrogen, LLC. The Food segment consists its equity method investment in Ventura Foods, LLC. The corporate and other segment includes wheat milling operations, as well as business solutions operations consisting of commodities hedging, insurance and financial services related to crop production. Its businesses primarily include financing, insurance, hedging and other service activities related to crop production.