8-KLeadership ChangesExhibits & Filings

EIDP, Inc. 8-K Report, Executive Changes (Sep 29, 2009)

Filed September 29, 2009For Securities:CTA-PBCTA-PA

Summary

This 8-K filing from EIDP, Inc. (CTA-PB) announces the retirement of Richard R. Goodmanson from his position as Executive Vice President & Chief Operating Officer, effective September 30, 2009. To leverage his ongoing involvement in critical company matters, particularly ongoing litigation and other business projects, EIDP has entered into a three-year consulting agreement with Mr. Goodmanson. Under this agreement, Mr. Goodmanson will receive an annual retainer of $200,000 and a per diem payment of $2,000 when actively engaged in company-related work. The agreement includes standard protective clauses such as conflict of interest restrictions, non-competition and non-solicitation covenants, and confidentiality protections. This transition ensures continuity and expertise for the company during potentially important legal and business activities.

Key Highlights

  • 1Richard R. Goodmanson is retiring as EVP & COO effective September 30, 2009.
  • 2EIDP, Inc. has entered into a three-year consulting agreement with Mr. Goodmanson.
  • 3The consulting agreement includes a $200,000 annual retainer.
  • 4Mr. Goodmanson will also receive a $2,000 per diem for litigation support and business projects.
  • 5The agreement contains customary provisions including non-competition and non-solicitation covenants.
  • 6This arrangement aims to ensure Mr. Goodmanson's continued participation in ongoing litigation and business matters.
  • 7The consulting agreement is effective as of his retirement date.

Frequently Asked Questions

The main purpose of this filing is to announce the retirement of Richard R. Goodmanson as Executive Vice President & Chief Operating Officer and to detail a new three-year consulting agreement that has been established with him following his retirement.

Mr. Goodmanson will receive an annual retainer of $200,000 and a per diem payment of $2,000 when actively engaged in litigation support and business projects on behalf of the company. The agreement lasts for three years and includes standard provisions like non-competition and confidentiality clauses.

The company is entering into this agreement to ensure Mr. Goodmanson's continued participation and expertise in ongoing litigation and other important business matters, leveraging his knowledge and experience post-retirement.

Yes, the agreement includes customary provisions that restrict him from taking on work that could create a conflict of interest, and it also contains non-competition and non-solicitation covenants to protect the company's interests.