CYRUSONE INC. (NASDAQ:CONE) 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
Arrangement of Certain Officers.
Subsidiary) and Mr. Andrews entered into a Confidential
Separation Agreement and Release of All Claims dated November 30,
2016 (the Separation Agreement).
Agreement, dated October 19, 2015, and filed with the Securities
and Exchange Commission on September 29, 2015 as Exhibit
10.1>to the Companys Current Report on Form 8-K (the
Employment Agreement), which provides for certain severance
payments and benefits subject to the execution of an irrevocable
release of claims. Consistent with the Employment Agreement, the
Separation Agreement provides that in consideration for the
release set forth in the Separation Agreement, and for the
acknowledgment and reaffirmation of his post-employment
obligations and the other restrictive covenants, Mr. Andrews will
receive a lump sum severance payment equal to his annual salary
plus target bonus, vesting of certain stock option and restricted
stock grants, and certain other payments and benefits as set
forth in the Separation Agreement. Mr. Andrews will also remain
eligible to receive a bonus in respect of the 2016 calendar year
to the same extent as if his employment had not terminated, which
bonus (if any) will be paid to Mr. Andrews in a manner consistent
with other executives with respect to Company performance and
individual performance targets.
Separation Agreement is qualified in its entirety by reference to
the full text of the Separation Agreement, which is attached
hereto as Exhibit 10.1, and (ii) the Employment Agreement is
qualified in its entirety by reference to the full text of the
Employment Agreement.
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Exhibit No.
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Description
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10.1
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Confidential Separation Agreement and Release of All
Claims effective as of November 30, 2016 by and between Gregory R. Andrews and CyrusOne LLC |
About CYRUSONE INC. (NASDAQ:CONE)
CyrusOne Inc. is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within the CyrusOne footprint and beyond. The Company has data centers in the United States, London and Singapore. The Company provides mission-critical data center facilities that protect and ensure the continued operation of information technology (IT) infrastructure for approximately 930 customers in over 30 data centers and approximately two recovery centers in over 10 distinct markets, collectively providing approximately 2,954,000 net rentable square feet (NRSF). The Company provides round the clock security guard monitoring with customizable security features. CYRUSONE INC. (NASDAQ:CONE) Recent Trading Information
CYRUSONE INC. (NASDAQ:CONE) closed its last trading session up +0.45 at 41.35 with 836,576 shares trading hands.