RPX Corporation (NASDAQ:RPXC) 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.
On December 14, 2017, RPX Corporation (the “Company”) announced the departure of Mr. Steven S. Swank, the Company’s Chief Revenue Officer, from his position at the Company.
In connection with Mr. Swank’s departure, the Company and Mr. Swank executed a Separation Agreement (the “Separation Agreement”) dated February 1, 2018. to the terms of the Separation Agreement, Mr. Swank will receive the following severance benefits:
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payment of an amount equal to his current base salary for twelve (12) months, or $350,000 (less all applicable withholdings); |
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a one-time lump sum payment in the amount of $175,000 (less all applicable withholdings); and |
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to the extent Mr. Swank elects to continue health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), payment of the monthly premium under COBRA for Mr. Swank and, if applicable, his dependents, until the earliest of (a) December 31, 2018, (b) the expiration of Mr. Swank’s continuation coverage under COBRA or (c) the date when Mr. Swank becomes eligible for health insurance in connection with new employment or self-employment. |
The Separation Agreement contains a release of claims by Mr. Swank and a mutual non-disparagement provision.
The foregoing description of the Separation Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Separation Agreement, which is attached as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No. |
Description |
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Separation Agreement dated February 1, 2018 by and between RPX Corporation and Steven Swank. |
RPX Corp ExhibitEX-10.1 2 rpxexhibit101severance.htm EXHIBIT 10.1 Exhibit EXHIBIT 10.1 RPX CORPORATIONJanuary 30,…To view the full exhibit click here
About RPX Corporation (NASDAQ:RPXC)
RPX Corporation offers patent risk management solutions. The Company’s patent risk management solution facilitates exchanges of value between owners and users of patents. The core of its solution is defensive patent aggregation, in which the Company acquires patents and licenses to patents that are being or may be asserted against its clients. The Company then licenses these patent assets to its clients to protect them from patent infringement assertions. The Company also provides its clients with access to its patent market intelligence and data. The Company acquires patent assets from various parties, including operating companies, individual inventors, non-practicing entities (NPEs), universities and bankruptcy trustees. Clients can access this market intelligence and data through its Web portal and through discussions with its client relations team. The Company also offers insurance to cover certain costs of patent litigation.
