What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to announce the retirement of Gary C. Butler, the former Chief Executive Officer and a former member of the Board of Directors of Automatic Data Processing, Inc., and to disclose the terms of his separation agreement.

What are the key terms of Gary C. Butler's separation agreement?

The separation agreement covers Mr. Butler's retirement, outlining his rights to employee benefits, specific payments, and the handling of his outstanding equity awards. It also includes non-competition, non-solicitation, and confidentiality obligations.

Will Mr. Butler continue to have any role at ADP?

Based on this filing, Mr. Butler has retired from his roles as Chief Executive Officer and a member of the Board of Directors. The separation agreement details the terms of his retirement, suggesting a complete departure from active executive and board responsibilities.

Where can I find more details about the separation agreement?

The full Separation Agreement and General Release, dated November 14, 2011, between Gary C. Butler and Automatic Data Processing, Inc., is filed as Exhibit 10.1 to this Form 8-K and is incorporated by reference.

ADP 8-K: Leadership Changes

Summary

This 8-K filing from Automatic Data Processing, Inc. (ADP) on November 15, 2011, primarily announces the retirement of its former Chief Executive Officer and former Board member, Gary C. Butler. The company has entered into a Separation Agreement and General Release with Mr. Butler, outlining the terms of his departure. This agreement details his rights regarding employee benefit plans, specific payments, and the treatment of his outstanding equity awards. It also includes standard provisions such as non-competition, non-solicitation, and confidentiality undertakings.

Key Highlights

1Gary C. Butler, former CEO and Board member, has retired from Automatic Data Processing, Inc.
2A Separation Agreement and General Release has been executed with Mr. Butler.
3The agreement specifies terms for his retirement, including benefit plan rights.
4The agreement addresses Mr. Butler's rights to certain other payments upon retirement.
5Treatment of Mr. Butler's outstanding equity awards is detailed in the agreement.
6Confidentiality, non-competition, and non-solicitation clauses are part of the separation terms.
7The Separation Agreement itself is filed as an exhibit to this 8-K.

AUTOMATIC DATA PROCESSING INC 8-K Report, Executive Changes (Nov 15, 2011)

Summary

Key Highlights

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