Southcross Energy Partners, L.P. (NYSE:SXE) 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.
As previously disclosed on January 9, 2017, John E. Bonn stepped
down as President and Chief Executive Officer of Southcross
Energy Partners GP, LLC (the General Partner), the general
partner of Southcross Energy Partners, L.P. (the Partnership,
effective January 6, 2017). On February21, 2017 (the Effective
Date), Mr.Bonn entered into a Severance Agreement and General
Release with the General Partner (the Release Agreement).
Under the Release Agreement, provided that Mr.Bonn has not
revoked the Release Agreement, Mr.Bonn will receive the Severance
Payment (as defined in Mr.Bonns Employment Agreement, dated as of
March5, 2015, by and between the General Partner and Mr.Bonn), as
previously disclosed. The Release Agreement includes a general
release of claims by Mr.Bonn and customary restrictive covenants.
The foregoing description of the Release Agreement is qualified
in its entirety by reference to the full text of the Release
Agreement, which is attached as Exhibit 10.1 to this Current
Report and incorporated herein by reference.
Item9.01 Financial Statements and Exhibits.
Severance Agreement and General Release, executed February21,
2017, between Southcross Energy Partners GP, LLC and John E.
About Southcross Energy Partners, L.P. (NYSE:SXE)
Southcross Energy Partners, L.P. is a limited partnership. The Company provides natural gas gathering, processing, treating, compression and transportation services, and natural gas liquid (NGL) fractionation and transportation services. Its products include Ethane, Propane, Normal Butane, Isobutane and Natural Gasoline. The Company’s assets are located in South Texas, Mississippi and Alabama and include over four gas-processing plants, approximately two fractionation facilities and approximately 3,140 miles of pipeline. The Company’s assets in the South Texas region are located between Conroe and Webb and Dimmitt Counties near the Texas-Mexico border and include Woodsboro processing plant, Bonnie View NGL fractionation facility, and Gregory processing plant and NGL fractionation facility. The Company’s assets in the Mississippi region are located principally in the southern half of the state and consist of the intrastate pipeline system in Mississippi. Southcross Energy Partners, L.P. (NYSE:SXE) Recent Trading Information
Southcross Energy Partners, L.P. (NYSE:SXE) closed its last trading session up +0.13 at 3.26 with 322,330 shares trading hands.