Nuverra Environmental Solutions, Inc. (OTCMKTS:NESC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of Chief Financial Officer
As previously disclosed in Nuverra Environmental Solutions, Inc.’s (the Company) Current Report on Form 8-K filed with the Securities and Exchange Commission on November 21, 2018, Edward A. Lang III, the Company’s former Executive Vice President and Chief Financial Officer, left the Company to pursue other opportunities, effective November 30, 2018 (the Separation Date).
to a Separation Agreement and Mutual Release entered into between Mr. Lang and the Company (the Separation Agreement) on November 28, 2018, Mr. Lang ceased to be an employee of the Company as of the Separation Date. The benefits provided to Mr. Lang under the Separation Agreement are substantially consistent with the benefits Mr. Lang would have been entitled to receive under his Employment Agreement, dated August 23, 2017 (Employment Agreement), Notice of Grant of Performance Restricted Stock Units and Award Agreement, dated February 23, 2018, and Notice of Grant of Restricted Stock Units and Award Agreement, dated February 23, 2018, had Mr. Lang’s employment been terminated to Section 9.a. of his Employment Agreement.
The foregoing description of the Separation Agreement is only a summary and does not purport to be a complete description of the terms and conditions under the Separation Agreement, and such description is qualified in its entirety by reference to the full text of the Separation Agreement, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 9.01.FINANCIAL STATEMENTS AND EXHIBITS.
(d)Exhibits
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Exhibit Number |
Description |
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99.1 |
Separation Agreement and Mutual Release, dated as of November 28, 2018, between the Company and Edward A. Lang III. |
EXHIBIT INDEX
Nuverra Environmental Solutions, Inc. ExhibitEX-99.1 2 ex991-edwardlangseparation.htm EXHIBIT 99.1 Exhibit Exhibit 99.1SEPARATION AGREEMENT AND MUTUAL RELEASE This SEPARATION AGREEMENT AND MUTUAL RELEASE (this “Agreement”) is made and entered into between Edward A. Lang III (hereinafter referred to as “Employee”),…To view the full exhibit click here
About Nuverra Environmental Solutions, Inc. (OTCMKTS:NESC)
Nuverra Environmental Solutions, Inc. (Nuverra) provides environmental solutions to customers focused on the development and production of oil and natural gas from shale formations. The Company’s environmental solutions include delivery, collection, treatment, recycling, disposal of water, wastewater, waste fluids, hydrocarbons, and restricted solids that are part of the drilling, completion, and production of shale oil and natural gas. The Company operates through three segments, which include the Northeast division comprising the Marcellus and Utica Shale areas; the Southern division comprising the Haynesville, Eagle Ford and Permian Basin Shale areas, and the Rocky Mountain division comprising the Bakken Shale area. Nuverra operates in select shale areas in the United States, including oil shale areas consisting of the Bakken, Eagle Ford and Permian Shale areas, and natural gas shale areas in Haynesville, Marcellus and Utica.
