RED LION HOTELS CORPORATION (NYSE:RLH) 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 Departures of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 15, 2019, in connection with the resignation of Gregory T. Mount as President and Chief Executive Officer, the company entered into a mutual general release of claims with Mr. Mount, which agreement confirmed Mr. Mounts last date of employment, and provided for a modification to the definition of Competing Business contained in his offer letter dated February 27, 2015 to reflect the companys focus on hotel franchising and hotel technology services. No revisions were made to the severance payable to Mr. Mount to the terms of his offer letter, which is equal to one year of his base salary or $556,000. There is no acceleration of vesting of any of Mr. Mounts previously issued equity in connection with his resignation.
The general release has been filed as Exhibit 10.1 to this report.
Item 9.01 Financial Statements and Exhibits
|10.1 || ||General Release of Claims between the Company and Gregory T. Mount |
Red Lion Hotels CORP Exhibit
EX-10.1 2 d824812dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 GENERAL RELEASE OF CLAIMS This Agreement and General Release of Claims (Agreement) is entered into by and between Gregory Mount (Employee),…
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About RED LION HOTELS CORPORATION (NYSE:RLH)
Red Lion Hotels Corporation (RLHC) is a hospitality and leisure company. The Company is engaged in the franchising, management and ownership of hotels under the brands, including Hotel RL, Red Lion Hotel, Red Lion Inn & Suites, GuestHouse and Settle Inn & Suites (collectively the RLHC Brands). The RLHC brands represent upscale, midscale and economy hotels. The Company’s segments include company operated hotel segment, franchised hotels segment, entertainment segment and other. The hotels segment is engaged in guest room rentals, and food and beverage operations at its operated hotels. The franchised hotels segment is engaged in licensing its brands to franchisees. It offers various programs, which include its reservation system, guest loyalty program, national and regional sales, revenue management tools, quality inspections, advertising and brand standards. The entertainment segment consists of its WestCoast Entertainment and TicketsWest operations.
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