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

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 24, 2017, OUTFRONT Media Inc. (the “Company”) entered into a new employment agreement with Richard Sauer, which provides for his continued employment as the Company’s Executive Vice President, General Counsel and Corporate Secretary from March 1, 2017 through the termination of the employment agreement by the Company or Mr. Sauer, in accordance with the terms of the employment agreement. Mr. Sauer’s employment agreement provides for an annual base salary of $575,000, and an annual target bonus opportunity equal to 65% of his annual salary, which are subject to review and increase at the discretion of the compensation committee (the “Committee”) of the Company’s board of directors. Mr. Sauer is also eligible to receive annual grants of long-term incentive compensation as determined by the Committee based on a target value of $600,000. The terms and conditions of any long-term incentive equity compensation awarded to Mr. Sauer are set forth in the Company’s Amended and Restated Omnibus Stock Incentive Plan and the related equity award terms and conditions. In addition, Mr. Sauer is entitled to participate in arrangements for benefits, business expenses and perquisites generally available to our other senior executives of the Company.

In the event that Mr. Sauer is terminated by the Company without cause or by him for good reason, Mr. Sauer is entitled to receive the following payments and benefits, subject to Mr. Sauer executing a general release: (1) a cash severance amount equal to the sum of 12 months of his annual salary; (2) Company-paid medical and dental benefits for up to 12 months, and Company-paid life insurance until the end of the employment term; and (3) accelerated vesting of restricted share unit (“RSU”) awards and performance-based RSU (“PRSU”) awards granted after January 1, 2017, subject to the satisfaction of the performance-based conditions applicable to the PRSU awards.

Mr. Sauer’s employment agreement also contains restrictive covenants imposing non-competition and non-disparagement obligations, restricting solicitation of employees, protecting confidential information and ownership of work product and requiring cooperation in litigation, as well as other covenants, during his employment and for specified periods after the termination of employment. >Further, Mr. Sauer’s employment agreement provides for indemnification by the Company to the fullest extent permitted by law and the Company’s charter and bylaws against liabilities, losses, judgments, fines, penalties, amounts paid in settlement and reasonable expenses, including attorneys’ fees, incurred by Mr. Sauer in connection with his service for the Company.

About OUTFRONT Media Inc. (NYSE:OUT)
OUTFRONT Media Inc., formerly CBS Outdoor Americas Inc., is a provider of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The Company’s inventory consists of billboard displays and transit advertising displays. It operates through two segments. The United States segment includes the Company’s operations in the United States. The International segment includes the Company’s operations in Canada and Latin America, including Mexico, Argentina, Brazil, Chile and Uruguay. Along with leasing displays, the Company provides other services to customers, such as pre-campaign category research, consumer insights, creative design support, vinyl production, and post-campaign tracking and analytics. Its locations portfolio includes sites, such as the Bay Bridge in San Francisco, various locations along Sunset Boulevard in Los Angeles, and various sites in and around both Grand Central Station and Times Square in New York. OUTFRONT Media Inc. (NYSE:OUT) Recent Trading Information
OUTFRONT Media Inc. (NYSE:OUT) closed its last trading session down -0.07 at 25.95 with 1,357,532 shares trading hands.