Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 23, 2022, Harsco Corporation (the “Company”) announced that Wendy Livingston, Senior Vice President and Chief Human Resources Officer, is leaving the Company to pursue other opportunities closer to her family. Her last day with the Company will be June 10, 2022.
On May 18, 2022, the Company entered into a Separation Agreement and General Release (the “Separation Agreement”) with David Stanton.
Under the Separation Agreement, Mr. Stanton will be entitled to receive four quarterly gross payments of $88,891, payable, less amounts previously paid, on the first full pay period after each of the following dates: July 1, 2022, October 1, 2022, January 1, 2023, and April 1, 2023. Mr. Stanton is also entitled to health insurance premiums for the continuation of health insurance coverage under COBRA for Mr. Stanton, his spouse, and covered dependents for a period of up to seven months. All payments and benefits to which Mr. Stanton is entitled under the Separation Agreement are subject to tax withholding, as applicable.
In consideration of the payments and benefits provided under the Separation Agreement, Mr. Stanton is subject to certain non-disparagement and confidentiality provisions and agreed to enter into a general release of claims against the Company.
The foregoing description of the terms and conditions of the Separation Agreement is merely a summary of the material terms of the Separation Agreement and is qualified in its entirety by reference to the full text of the Separation Agreement.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit Index
(2)