MEMC Electronic Materials 8-K 2012
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
(Amendment Number 1)
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 15, 2012
MEMC Electronic Materials, Inc.
(Exact Name of Registrant as Specified in its Charter)
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 provision (see General Instruction A.2 below):
On May 21, 2012, MEMC Electronic Materials, Inc. (the “Company”) reported that effective May 16, 2012, Mark J. Murphy resigned from his position as Senior Vice President and Chief Financial Officer of the Company. On June 14, 2012, the Company finalized a Separation Agreement and General Release (the “Agreement”) with Mr. Murphy. Pursuant to the Agreement, Mr. Murphy has agreed to serve in a transition role with the Company through December 31, 2012. As compensation for such transition services, the Company will pay Mr. Murphy $365,000. The Company also agreed to forgive the repayment of certain relocation expenses which Mr. Murphy was otherwise obligated to repay under the terms of his employment offer letter. Pursuant to the Agreement, Mr. Murphy has agreed to a general release of claims and not to compete with the Company for a period of two years.
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 thereunto duly authorized.