ROYAL CARIBBEAN CRUISES LTD. (NYSE:RCL) 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.
(d)As previously reported on Form 8-K filed with the Securities and Exchange Commission on March20, 2018, Royal Caribbean Cruises Ltd. (the "Company") announced that Adam Goldstein would be transitioning from his role as President and Chief Operating Officer of the Company to Vice Chairman of the Company.
On May 8, 2018, the Company and Mr. Goldstein entered into an amendment to his employment agreement, providing, among other things, that (i) Mr. Goldstein will assume the role of Vice Chairman of the Company effective as of May 16, 2018, (ii) from May 16, 2018 through December 31, 2018, Mr. Goldstein will receive base compensation of $500,000 per annum, and thereafter will receive base compensation of $250,000 per annum, and (iii) for the calendar year 2018, Mr. Goldstein will receive bonus compensation prorated for the period he served in the role of President and Chief Operating Officer.
The amendment also provides that subject to the following exception, Mr. Goldstein will not be entitled to the severance otherwise payable under his employment agreement upon a termination event. If, however, Mr. Goldstein's employment is terminated "without cause" (as defined in his employment agreement) on or prior to February 28, 2019, he will be entitled to a payment of $4,000,000.
The foregoing description of Mr. Goldstein's employment and compensation arrangements set forth in the amendment to his employment agreement is qualified in its entirety by reference to the full text of the amendment, which is filed as an exhibit to this report on Form 8-K.
Item 9.01Financial Statements and Exhibits.
ROYAL CARIBBEAN CRUISES LTD ExhibitEX-10.1 2 exh101form8k20180508.htm Exhibit 10.1 Royal Caribbean Cruises Ltd. 1050 Caribbean Way tel: 305.539.6000 Miami,…To view the full exhibit click here
About ROYAL CARIBBEAN CRUISES LTD. (NYSE:RCL)
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights. It operates over 11 ships with an aggregate capacity of approximately 24,900 berths under its Celebrity Cruises brand. It operates over two ships with an aggregate capacity of approximately 1,400 berths under its Azamara Club Cruises brand, offering cruise itineraries that range from 3 to 20 nights. It operates approximately three ships with an aggregate capacity of approximately 6,200 berths under its Pullmantur brand. It operates over two ships with an aggregate capacity of approximately 2,800 berths under its CDF Croisieres de France brand.
