Everi Holdings Inc. (NYSE:EVRI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Everi Holdings Inc. (NYSE:EVRI) 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.

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(e) Settlement Agreement with Former President and Chief Executive Officer

On March 15, 2017, Everi Holdings Inc. (the “Company”) entered into a Settlement Agreement and Mutual Release with its former President and Chief Executive Officer, Ram V. Chary,  whose last day with the Company was February 13, 2016, to resolve a dispute regarding Mr. Chary’s employment agreement with the Company (the “Settlement Agreement”). to the Settlement Agreement, the parties agreed that the Company shall pay Mr. Chary, as full and complete satisfaction of all monetary obligations of the Company under the Settlement Agreement, an amount equal to $4.6 million, inclusive of $0.9 million as reimbursement for attorneys’ fees and costs. In connection with the settlement and subject to certain exceptions, the Company and Mr. Chary agreed to release all claims they may have had against each other, including, without limitation, relating to Mr. Chary’s employment and termination of employment. 

The foregoing description of the Settlement Agreement is not complete and is qualified in its entirety by reference to the Settlement Agreement, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2017.

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About Everi Holdings Inc. (NYSE:EVRI)

Everi Holdings Inc., formerly Global Cash Access Holdings, Inc., is a holding company. The Company operates through subsidiaries, including Everi Games Holding Inc. and Everi Payments Inc. It provides video and mechanical reel gaming content and technology solutions, integrated gaming payments solutions, and compliance and efficiency software. It operates through two business segments: Games and Payments. Its Games segment provides solutions, including leased gaming equipment; sales and maintenance related services of gaming equipment; gaming systems, and ancillary products and services. The Payments segment provides solutions directly to gaming establishments to offer their patrons cash access related services and products, including access to cash at gaming facilities through automatic teller machine (ATM) cash withdrawals and point of sale debit card transactions, among others; check-related services; fully integrated kiosks and maintenance services, and other ancillary offerings.

Everi Holdings Inc. (NYSE:EVRI) Recent Trading Information

Everi Holdings Inc. (NYSE:EVRI) closed its last trading session up +0.23 at 4.26 with 2,352,492 shares trading hands.

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