ePlus inc. (NASDAQ:PLUS) 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
Arrangements of Certain Officers
of the Board of Directors of ePlus inc. (the “Company”)
approved compensation modifications and amendments to employment
agreements for the following executive officers: Chief Executive
Officer and President Mark P. Marron and Chief Financial Officer
Elaine D. Marion.
$750,000, effective June 8, 2017. His amended and restated
employment agreement, which was entered into effective August 1,
2016, and reported in our Current Report on Form 8-K filed on
July 21, 2016, was amended to reflect the salary modification.
Mr. Marron’s target award under ePlus’ Executive Incentive Plan
(“EIP”) was amended from $400,000 to $600,000 for fiscal year
2018. Mr. Marron was also granted an award of 20,000 shares of
restricted stock on June 8, 2017, which will vest in equal
amounts over the next three one-year anniversaries of the grant
date.
$450,000, effective June 8, 2017. Her amended and restated
employment agreement, which was entered into effective August 1,
2016, and reported in our Current Report on Form 8-K filed on
July 21, 2016, was amended to reflect the salary modification.
Ms. Marion’s target award under ePlus’ Executive Incentive Plan
(“EIP”) was amended from $207,500 to $250,000 for fiscal year
2018. Ms. Marion was also granted an award of 12,000 shares of
restricted stock on June 8, 2017, which will vest in equal
amounts over the next three one-year anniversaries of the grant
date.
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Exhibit No.
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Description
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10.1
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Amendment No. 1 to Amended and Restated Employment
Agreement effective June 8, 2017, by and between ePlus inc. and Mark P. Marron |
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10.2
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Amendment No. 1 to Amended and Restated Employment
Agreement effective June 8, 2017, by and between ePlus inc. and Elaine D. Marion |
About ePlus inc. (NASDAQ:PLUS)
ePlus inc. is a holding company. The Company is engaged in the business of selling, leasing, financing and managing information technology. It operates through two segments: technology and financing. The technology segment sells information technology (IT) hardware products, third-party software and maintenance contracts, its own and third-party professional and managed services, and its software. The financing segment operations primarily consist of the financing of information technology equipment, software and related services. Both segments sell to commercial entities, state and local governments, government contractors and educational institutions. The Company is a provider of IT solutions, which enable organizations to optimize their IT environment and supply chain processes. It delivers and integrates IT products and software from various vendors, and provides private, hybrid, and public cloud solutions.