Summary
CSX Corporation (CSX) filed an 8-K/A amendment on April 5, 2018, to provide details regarding a Change of Control Agreement entered into with Angela C. Williams, who was appointed Vice President and Controller on March 18, 2018. This agreement outlines specific severance compensation for Ms. Williams in the event of certain termination scenarios within three years of a change in control. Investors should note that this agreement is a standard protective measure often associated with executive appointments, particularly in industries subject to potential consolidation or strategic shifts.
Key Highlights
- 1CSX Corporation has entered into a Change of Control Agreement with newly appointed Vice President and Controller, Angela C. Williams.
- 2The agreement was finalized on April 5, 2018, following Ms. Williams' appointment on March 18, 2018.
- 3In the event of termination other than for cause, resignation for good reason, or constructive termination within three years of a change in control, Ms. Williams is entitled to severance.
- 4The severance package is structured as two times her annual base salary plus target bonus.
- 5This filing serves as an amendment to a previous 8-K filed on March 22, 2018, providing further details on executive compensation arrangements.
- 6The Change of Control Agreement is filed as Exhibit 10.1 to this report.