ScanSource, Inc. (NASDAQ:SCSC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ScanSource, Inc. (NASDAQ:SCSC) 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 August 23, 2017, ScanSource, Inc. (the “Company”) appointed Gerald Lyons as Executive Vice President and Chief Financial Officer effective as of August 23, 2017.From 2007 through August 23, 2017 Mr. Lyons served in a series of positions of increasing responsibility with the Company, most recently as Interim Chief Financial Officer.

to the employment letter also attached as Exhibit 10.1 to this report (which is incorporated herein by reference), Mr. Lyons will be paid an annual base salary of $350,000 and have an annual cash bonus target equal to 70% of his base salary with a maximum of 2.0 times his base salary.He also will receive other benefits, including change-in-control payments, as detailed in the Company’s Executive Severance Plan previously filed with the Securities and Exchange Commission, and is eligible for participation in the Company’s other long-term incentive award programs.Under the Company’s Executive Severance Plan, Mr. Lyons will have a “severance multiple” of 1.5 and a “Change in Control Multiple” of 2.0.Mr. Lyons’ entry into the Employment Letter terminates Mr. Lyons’ Employment Agreement, as previously amended.

Item 5.02. Financial Statements and Exhibits.

SCANSOURCE, INC. ExhibitEX-10.1 2 d428077dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 THIS AGREEMENT IS SUBJECT TO ARBITRATION PURSUANT TO S.C. CODE ANN. § 15-48-10,…To view the full exhibit click here
About ScanSource, Inc. (NASDAQ:SCSC)
ScanSource, Inc. is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services. The Barcode & Security distribution segment focuses on automatic identification and data capture (AIDC), POS, electronic physical security and three dimensional (3D) printing technologies. The Communications & Services distribution segment focuses on communications technologies and services. As of June 30, 2016, the Company marketed over 100,000 products from approximately 400 hardware and software vendors to approximately 35,000 reseller customers from distribution centers in Mississippi, Virginia, Florida, Mexico, Colombia, Brazil, Belgium, France, Germany and the United Kingdom.