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
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On February24, 2017, John Ellsworth resigned as General Counsel
and Executive Vice President of ScanSource, Inc. (the Company).
In connection with his resignation, Mr.Ellsworth entered into a
Severance Agreement and General Release (the Severance Agreement)
with the Company. to the Severance Agreement, Mr.Ellsworth is
entitled to receive (i)a lump sum payment equal to $92,500, (ii)
reimbursement for certain COBRA premiums, and (iii)reimbursement
of up to $44,000 for certain other obligations contained in the
Severance Agreement.
The foregoing description of the Severance Agreement does not
purport to be complete and is qualified in its entirety by
reference to the full text of the agreement. A copy of the
Severance Agreement is filed as Exhibit 10.1 hereto and is
incorporated herein by reference.
| Item9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
|
Exhibit Number |
Description |
|
| 10.1 |
Severance Agreement and General Release by and between ScanSource, Inc. and John Ellsworth dated as of February24, 2017 |
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. ScanSource, Inc. (NASDAQ:SCSC) Recent Trading Information
ScanSource, Inc. (NASDAQ:SCSC) closed its last trading session 00.00 at 41.45 with 187,641 shares trading hands.
