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1032317.1
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On February 13, 2017, Barry C. Fischetto voluntarily resigned from his position as Senior Vice President of Operations of Farmer Bros. Co., a Delaware corporation (the "Company"), effective as of such date to pursue other opportunities. In connection with his resignation, on February 17, 2017, the Company and Mr. Fischetto entered into a Confidential General Release and Separation Agreement (the “Separation Agreement”). Subject to the terms of the Separation Agreement, including effectiveness of a general release of claims against the
Company, Mr. Fischetto will be entitled to receive six months of severance pay, partial reimbursement for COBRA coverage up to six months, and a prorated bonus under the Farmer Bros. Co. 2005 Incentive Compensation Plan for fiscal 2017 based on Mr. Fischetto’s target award thereunder for fiscal 2017. Except for the obligations expressly set forth in the Separation Agreement, the Company has no further obligations to Mr. Fischetto. The foregoing description of the Separation Agreement is qualified in its entirety by the full text of the Separation Agreement filed herewith as Exhibit 10.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No.
Description
10.1
Confidential General Release and Separation Agreement by and between Barry C. Fischetto and Farmer Bros. Co. dated February 17, 2017
SIGNATURE
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.