UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Emerging growth company
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Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Resignation of a Named Executive Officer
On February 28, 2022, Jay Cho resigned from his position as the Executive Vice President and General Manager, Thin Film Equipment of Intevac, Inc. (the “Company”) and from all other positions he held in the Company or any of its subsidiaries effective immediately.
Severance Agreement with Jay Cho
On February 28, 2022, the Company entered into a Severance Agreement and Release of Claims (the “Severance Agreement”) with Mr. Cho. Under the terms of the Severance Agreement, Mr. Cho will receive a lump sum payment of $165,000. As part of the Severance Agreement, and as a condition to receiving the foregoing benefit, the parties agreed to provisions relating to a release and waiver of claims, confidentiality, non-solicitation and non-disparagement.
The foregoing summary is qualified in its entirety by reference to the full text of the Severance Agreement which is attached hereto as Exhibit 10.1 and is incorporated by reference.
Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits
Exhibit |
Description | |
10.1 | Severance Agreement and Release of Claims, dated February 28, 2022, by and between Jay Cho and Intevac, Inc. | |
104 | Cover Page Interactive Date File (embedded within the Inline XBRL document) |
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.
INTEVAC, INC. | ||||||
Date: March 3, 2022 | /s/ James Moniz | |||||
James Moniz | ||||||
Executive Vice President, Finance and Administration, | ||||||
Chief Financial Officer, Secretary and Treasurer |