GLOBAL EAGLE ENTERTAINMENT INC. (NASDAQ:ENT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff
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GLOBAL EAGLE ENTERTAINMENT INC. (NASDAQ:ENT) 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.

(b) On November 12, 2016, Global Eagle Entertainment Inc. (the “Company” or “we”) and Aditya Chatterjee, the Company’s Chief Technology Officer, agreed to terminate Mr. Chatterjee’s employment effective November 12, 2016.

In connection with Mr. Chatterjee’s departure, the Company and Mr. Chatterjee have entered into a Separation and Release Agreement dated November 12, 2016 (the “Separation Agreement”). Under the Separation Agreement, the Company will pay Mr. Chatterjee a severance payment equal to $154,436, paid over the 6-month period following his termination. In addition, under the Separation Agreement, Mr. Chatterjee will have until November 12, 2017 to exercise any vested Company stock options that he holds as of his termination date even if the award agreements governing such stock options provide for a shorter period of exercisability following his separation from the Company.

The Company and Mr. Chatterjee have also entered into a Consulting Services Agreement dated November 12, 2016 (the “Consulting Agreement”). Under the Consulting Agreement, the Company will pay Mr. Chatterjee $25,739 per month for strategic and management advisory services relating to network capacity, next-generation antenna programs, partnerships and regulatory matters. The Consulting Agreement has a 6-month term, but the Company may terminate the agreement for any or no reason at any time.

We qualify the foregoing summary of the Separation Agreement and Consulting Agreement by reference to the Separation Agreement and Consulting Agreement, copies of which we have filed as Exhibits 10.1 and 10.2, respectively, and incorporate by reference herein.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

We incorporate by reference herein the Exhibit Index following the page to this Current Report on Form 8-K.



About GLOBAL EAGLE ENTERTAINMENT INC. (NASDAQ:ENT)

Global Eagle Entertainment Inc. is a provider of aircraft connectivity systems, operations solutions and media content to the travel industry. The Company’s segments include Connectivity and Content. Its Connectivity segment provides airline partners and their passengers with Wireless Fidelity (Wi-Fi) connectivity over Ku-band satellite transmissions, and to a lesser extent operations solutions to airline customers. Its Content segment selects, manages and distributes wholly owned and licensed media content, video and music programming, applications, digital advertising solutions and games to over 150 airlines across the world, as well as to maritime and other away-from-home non-theatrical markets. The Company, through its product and services platform, provide airlines with a range of in-flight solutions, including Wi-Fi, movies, television, music, interactive software, as well as portable in-flight entertainment (IFE) solutions, content management services and e-commerce solutions.

GLOBAL EAGLE ENTERTAINMENT INC. (NASDAQ:ENT) Recent Trading Information

GLOBAL EAGLE ENTERTAINMENT INC. (NASDAQ:ENT) closed its last trading session up +0.09 at 7.12 with 417,438 shares trading hands.