Waters Corporation (NYSE:WAT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On July21, 2017 Rohit Khanna entered into an agreement (the “Agreement”) with Waters Corporation (the “Company”) under which Mr.Khanna resigned from his position as Senior Vice President, Applied Technology as of July21, 2017, and will continue to serve as Senior Vice President of the Company and as a member of its executive committee until his retirement on December31, 2017, in each case subject to the terms of the Agreement.
Mr.Khanna will remain entitled to receive his current base salary and to participate in the Company’s bonus plan and benefit plans during the term of the Agreement. Upon his termination of employment on December31, 2017 (or upon an earlier termination of employment as provided in the Agreement), Mr.Khanna will be entitled to receive continued salary and subsidized COBRA continuation coverage for 12 months and accelerated vesting of those stock options and restricted stock units that would have vested on or before December31, 2018 (or, with respect to a stock option grant made in February 2016,February 2019). He will also remain eligible to receive an annual bonus for 2017 based on actual performance and to be reimbursed for expenses associated with his service to the Company as provided for in the Agreement. The foregoing severance benefits are conditioned on Mr.Khanna’s execution and non-revocation of a release of claims and his continued compliance with the restrictive covenants contained in the Agreement and described below.
Under the Agreement, Mr.Khanna agreed to certain restrictions on competition and solicitation of customers and employees, which continue through December31, 2018, and with respect to disclosure of the Company’s confidential information.
About Waters Corporation (NYSE:WAT)
Waters Corporation is an analytical instrument manufacturer. The Company designs, manufactures, distributes and services instrument systems, columns and other chemistry consumables that are integrated and used along with other analytical instruments. The Company operates through two segments: Waters Division and TA Division. Its Waters Division’s products and services primarily consist of high performance liquid chromatography, ultra performance liquid chromatography, mass spectrometry and chemistry consumable products and related services. TA Division’s products and services primarily consist of thermal analysis, rheometry and calorimetry instrument systems and service sales. Its products are used by pharmaceutical, life science, biochemical, industrial, nutritional safety, environmental, academic and governmental customers working in research and development, quality assurance and other laboratory applications.