As previously disclosed by Resources Connection, Inc. (the Company) in a Current Report on Form 8-K filed with the Securities and Exchange Commission on October 4, 2016, Anthony C. Cherbak retired as the Companys President and Chief Executive Officer effective October 7, 2016.
On October 20, 2016, the Company entered into an Employment Agreement with Mr. Cherbak (the Employment Agreement) that supersedes Mr. Cherbaks prior employment agreement with the Company dated as of April 23, 2013. The following summary of the Employment Agreement is qualified in its entirety by the provisions of the Employment Agreement, which is filed herewith as Exhibit 10.1 and incorporated herein by reference. The Employment Agreement provides for Mr. Cherbaks continue d employment by the Company as an executive advisor through February 28, 2018 with an annual base salary of $150,000. Mr. Cherbak will continue to participate in the Companys health, welfare, retirement and other benefit programs offered to Company employees generally. At the end of the period of employment, the Company will pay or reimburse Mr. Cherbak to continue medical coverage under COBRA for eighteen months. The Employment Agreement includes certain confidentiality, non-solicitation, non-compete and other restrictive covenants in favor of the Company.
Financial Statements and Exhibits.
Employment Agreement, dated October 20, 2016, by and between the Company and Anthony Cherbak.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
RESOURCES CONNECTION, INC.
Date: October 20, 2016
By: /s/ Kate W. Duchene
Kate W. Duchene
Interim Chief Executive Officer
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