HUDSON GLOBAL, INC. (NASDAQ:HSON) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

HUDSON GLOBAL, INC. (NASDAQ:HSON) 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.

On June 26, 2019, Hudson Global, Inc. (the “Company”) and Patrick Lyons, the Company’s Chief Financial Officer, entered into an Agreement and Release (the “Separation Agreement”) in connection with Mr. Lyons’ previously announced departure from his positions with the Company. Under the terms of the Separation Agreement, the Company will, among other things, pay Mr. Lyons (i) his current salary through June 30, 2020, (ii) in the event Mr. Lyons elects to exercise his rights under COBRA, the difference between what Mr. Lyons paid for health insurance while employed by the Company and the COBRA amount for the earlier of twelve months or until Mr. Lyons obtains new employment with medical benefits, and (iii) a bonus of $108,875 under the Company’s annual incentive plan for fiscal year 2019.
On June 27, 2019, the Company and Mr. Lyons entered into a Consulting Agreement (the “Consulting Agreement”). to the Consulting Agreement, Mr. Lyons has agreed to serve as a consultant to the Company to assist with certain financial and operational matters from July 1, 2019 through December 31, 2019. In consideration for his services as a consultant, the Company will pay Mr. Lyons 750 shares of the Company’s common stock at the end of each month during the term of the Consulting Agreement.
The foregoing descriptions of the Separation Agreement and the Consulting Agreement are qualified in their entirety by reference to the full text of the Separation Agreement and Consulting Agreement, copies of which are filed as Exhibit 10.1 and Exhibit 10.2, respectively, to this Current Report on Form 8-K and are incorporated by reference herein.
(d) Exhibits:
Exhibit No. Description
10.2 Consulting Agreement, dated June 27, 2019, between the Company and Patrick Lyons.
Hudson Global, Inc. Exhibit
EX-10.1 2 hson20190701ex101.htm EXHIBIT 10.1 Exhibit Exhibit 10.1AGREEMENT AND RELEASEThis Separation Agreement and General Release (this “Agreement”) is entered into by and between Hudson Global,…
To view the full exhibit click here

Story continues below

About HUDSON GLOBAL, INC. (NASDAQ:HSON)

Hudson Global, Inc. (Hudson) is a provider of professional-level recruitment and related talent solutions across the world. The Company’s segments include Hudson Americas, Hudson Asia Pacific and Hudson Europe. Its service offerings include Permanent Recruitment, Temporary Contracting, Recruitment Process Outsourcing (RPO) and Talent Management solutions. The Permanent Recruitment services leverage its consultants, supported by its specialists in the delivery of its methods to identify, select and engage the talent. In Temporary Contracting, Hudson provides a range of project management, interim management and professional contract staffing services. Hudson RPO services include complete recruitment outsourcing, project-based outsourcing, contingent workforce solutions and recruitment consulting. Its Talent Management Solutions’ capability encompasses services, such as talent assessment, interview training, executive coaching, employee development and outplacement.

An ad to help with our costs