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SEC Filings

8-K/A
ACETO CORP filed this Form 8-K/A on 10/17/2017
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ACETO Corporation    
4 Tri Harbor Court    
Port Washington, NY 11050   Albert L. Eilender
Tel: (516) 478-9525   Chairman
Fax: (516) 478-9825    
www.aceto.com    

 

5.           Termination of Employment. Should the Company terminate your employment with the Company for any reason other than a “for Cause” termination, the Company shall pay you your Base Salary, at the rate then in effect, for the fifteen (15) month period following the date of termination. This payment is subject to you signing a timely and effective Severance Agreement. Severance will be subject to statutory taxes and withholdings, and shall be paid as salary continuation following the standard revocation period contained in the Separation Agreement. In addition, and if you are a current participant at the time of separation in the Company’s health plan, you will have the option of continuing health insurance coverage per COBRA guidelines. Any Severance payments will be offset by any amounts earned by you through other Employment or consultancy during the Severance Period. For purposes of this section “Cause” shall mean and be limited to: (i) your conviction for committing an act of fraud, embezzlement, theft or other act constituting a felony, or your guilty or nolo contendere plea to such a felony; (ii) fraud, embezzlement, theft or other misappropriation by you of funds or property of the Company or any of its subsidiaries; (iii) material neglect, or refusal by you to discharge, perform or observe your job duties and responsibilities, provided you have been given written notice of such neglect or refusal, and have not cured such neglect or refusal within ten (10) business days thereafter; or (iv) a material breach of your obligations under this Letter or any other written agreement with the Company.

 

6.           Restrictive Covenants. The provisions of Section 9 (Covenants) of the Change in Control Agreement found in Schedule I (the “Change in Control Agreement”) shall apply to you mutatis mutandis as if fully set forth in this Letter. The Company and you acknowledge and agree that nothing in this Letter is intended to, and this Letter shall not, in any way prohibit, limit or otherwise interfere with your protected rights under federal, state or local law to, without notice to the Company: (i) communicate or file a charge with a government regulator; (ii) participate in an investigation or proceeding conducted by a government regulator; or (iii) receive an award paid by a government regulator for providing information.

 

7.           Change In Control. The Board has determined that it is in the best interests of the Company and its shareholders to provide enhanced severance protections to Executives following a Change in Control of the Company subject to certain terms and conditions of the Change in Control Agreement.

 

   
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