VECTRUS, INC. (NYSE:VEC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
J. Moline as Senior Vice President, Information Technology and
Network Communication Services, on June 12, 2017, Vectrus Systems
Corporation (the Company) and Mr. Moline entered into a
Separation Agreement and Complete Release of Liability, dated
June 12, 2017 (the Separation Agreement). to the Separation
Agreement, the Company and Mr. Moline agreed that (i) his last
day of active full-time employment with the Company will be June
2, 2017, (ii) he will not be required to repay to the Company
$132,360.65 (the Net Amount), which is the net amount of the
lump-sum sign on payment of $200,000 paid to Mr. Moline on
December 14, 2015 as provided in his offer of employment, (iii)
he will be paid for any accrued, unused paid time off (PTO) and
(iv) his outstanding equity awards will be treated in accordance
with the terms of the applicable plan and award agreements.
termination of Mr. Molines obligation to repay the Net Amount is
subject to certain conditions, which, if not complied with by Mr.
Moline, could require him to repay to the Company the Net Amount
and pay any legal fees incurred by the Company to recover such
amount. The Separation Agreement, which is subject to a seven-day
revocation period, also provides for a release of liabilities.
Agreement is not complete and is subject to and qualified in its
entirety by the terms of the Separation Agreement. A copy of the
Separation Agreement is attached hereto as Exhibit 10.01 and
incorporated herein by reference.
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Exhibit
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No.
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Description
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10.01
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Separation Agreement and Complete Release of Liability,
dated June 12, 2017, between Vectrus Systems Corporation and Rene J. Moline |
About VECTRUS, INC. (NYSE:VEC)
Vectrus, Inc. is a provider of services to the United States Government across the world. The Company offers services, including infrastructure asset management, logistics and supply chain management, and information technology and network communication. Its infrastructure asset management services support the United States Army, Air Force and Navy, and include infrastructure services, security, warehouse management and distribution, ammunition management, civil engineering, air base maintenance and operations, communications, emergency services, transportation, and life support activities at various global military installations. Its logistics and supply chain management services support and maintain the vehicle and equipment stocks of the United States Army and Marine Corps. Its information technology and network communication services consist of sustainment of communications systems, network security, systems installation and life cycle management of information technology systems.
