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

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

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ITEM 5.02.

DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS.
On March 24, 2017, the Corporation announced that Mr. Jim
Stanley, the Corporations Executive Vice President and Chief
Operating Officer, will retire from the Corporation effective
June 1, 2017.
The Corporation and Mr. Jim Stanley have entered into a letter
agreement dated March 20, 2017 (the Letter Agreement). to, and
subject to the terms and conditions of, the Letter Agreement, in
connection with Mr. Jim Stanleys retirement, he will receive the
payments and benefits set forth therein, including (i) a lump sum
payment in the amount of $550,000, (ii) payout under the
Corporations Short-Term Incentive Plan, to the extent the
applicable 2017 performance goals are achieved, and (iii) a
payment equivalent to 130% of twelve months of COBRA premiums.
The foregoing description of the Letter Agreement does not
purport to be complete and is qualified in its entirety by the
full text of the Letter Agreement, a copy of which is attached
hereto as Exhibit 10.1, and is incorporated herein by reference.
A copy of the Corporations press release announcing the
retirement of Mr. Jim Stanley is attached hereto as Exhibit 99.1,
and is incorporated herein by reference.
ITEM 9.01.
FINANCIAL STATEMENTS AND EXHIBITS
(d)Exhibits
Exhibit
Number
Description
10.1
Letter Agreement, dated March 20, 2017, by and between
NiSource Corporate Services Company and Jim Stanley
99.1
Press Release issued by the Corporation on March 24,
2017


About NiSource Inc. (NYSE:NI)

NiSource Inc. is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts. Its natural gas distribution operations operate approximately 59,000 miles of pipeline. The Electric Operations segment provides electric service in approximately 20 counties in the northern part of Indiana. The Company’s principal subsidiaries include NiSource Gas Distribution Group, Inc., a natural gas distribution holding company, and NIPSCO, a gas and electric company. NIPSCO owns and operates approximately three coal-fired electric generating stations. NiSource Finance Corporation (NiSource Finance) is a consolidated finance subsidiary of the Company.

NiSource Inc. (NYSE:NI) Recent Trading Information

NiSource Inc. (NYSE:NI) closed its last trading session down -0.02 at 23.73 with 2,432,568 shares trading hands.

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