Delaware | 1-2376 | 94-0479804 |
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
1735 Market Street Philadelphia, Pennsylvania | 19103 | |
(Address of principal executive offices) | (Zip Code) |
o | Written communications pursuant to Rule 425 under the Securities Act |
o | Soliciting material pursuant to Rule 14a-2 under the Exchange Act |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(a) | A cash lump-sum severance payment of $946,438, payable on or before May 23, 2013; |
(b) | A cash payment of $72,201, in respect of earned but unused, as well as accrued, vacation time; |
(c) | Continued group health coverage at his current monthly rate for Mr. Wilson and his eligible dependents for one year; |
(d) | Payments under the Company's performance-based cash incentive program based on actual corporate performance during the relevant performance periods, pro-rated in each case to reflect Mr. Wilson's employment for less than the entire performance period; such payments, if any, shall be made within 2 and ½ months following the end of the relevant performance period; |
(e) | Continued vesting of the stock option granted to Mr. Wilson on February 17, 2011, and upon vesting such option will remain exercisable until February 17, 2015; |
(f) | Continuing exercisability, until April 30, 2014, of all other stock options held by Mr. Wilson to the extent vested as of April 30, 2013; |
(g) | Pro-rata vesting of any restricted stock units held by Mr. Wilson based on the days employed during the otherwise applicable vesting period over the full vesting period; |
(h) | Reimbursement of legal fees (not to exceed $5,000) incurred by Mr. Wilson in connection with the preparation and negotiation of the Agreement; |
(i) | Reimbursement of executive outplacement services (not to exceed $40,000); and |
(j) | Reimbursement for financial and tax planning services (not to exceed $10,000). |
Exhibit Number | Description | |
10.1 | Transition Agreement by and between D. Michael Wilson and FMC Corporation, dated April 29, 2013. |
FMC CORPORATION (Registrant) | |||
Date: April 30, 2013 | By: | S/ PAUL W. GRAVES | |
Paul W. Graves Executive Vice President and Chief Financial Officer |
Exhibit Number | Description | |
10.1 | Transition Agreement by and between D. Michael Wilson and FMC Corporation, dated April 29, 2013. |