P10 Industries, Inc. 8-K 2014
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
January 7, 2014 (January 3, 2014)
Active Power, Inc.
(Exact name of registrant as specified in its charter)
2128 W. Braker Lane, BK12
Austin, Texas 78758
(Address of principal executive offices, including zip code)
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Resignation of J. Noel Foley as Vice President of Engineering.
J. Noel Foley resigned as Vice President of Engineering of Active Power, Inc. (the “Company”), effective as of January 3, 2014 and entered into a Separation Agreement and Release with the Company dated January 4, 2014 (the “Agreement”). The Agreement provides, among other things, the following:
The Agreement also contains provisions for (i) a release of the Company by Mr. Foley for all claims, (ii) continued observance of Mr. Foley’s obligations to the Company under his current proprietary information and nondisclosure agreement, and (iii) Mr. Foley’s compliance with customary non-disparagement covenants. The foregoing is a summary of the Agreement and does not purport to be complete.
On January 6, 2014, the Company also announced certain internal organizational changes and, as a result of these changes, the Company’s executive officers are Mark A. Ascolese, Chief Executive Officer and President; James Powers, Chief Financial Officer; Randall J. Adelman, Vice President of Global Sales and Marketing; and Jason Rubin Vice President of Operations. No changes in executive compensation were made in connection with the foregoing internal organizational changes.
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.