UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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Item 8.01 Other Events.
In order to inform the stockholders of Axcelis Technologies, Inc. (the “Company”) as to the current status of the Company’s employment agreement with Mary G. Puma, President and Chief Executive Officer, the Company is herewith filing the Amended and Restated Employment Agreement with Ms. Puma dated February 24, 2023 (the “2023 Puma Agreement”). The 2023 Puma Agreement states that Ms. Puma will continue to provide services to the Company as Chief Executive Officer, Executive Chairperson and as Senior Advisor, sequentially, for periods ending in July 2025. The 2023 Puma Agreement provides for Ms. Puma’s compensation for such services, but does not provide for separation pay unless terminated by the Company without cause or by Ms. Puma with good reason prior to July 31, 2025. In such case, the main component of the separation pay is the amount remaining to be paid under the agreement through July 31, 2025. The 2023 Puma Agreement supersedes the Amended and Restated Employment Agreement dated as of May 24, 2022 (the “2022 Puma Agreement”).
Axcelis does not consider the terms of the 2023 Puma Agreement to be a material modification to Ms. Puma’s compensation, given that the specified minimum compensation did not materially increase from that specified in the 2022 Puma Agreement. Accordingly, this disclosure is being filed under Item 8.01 and not Item 5.02(e) of this Form 8-K. The 2023 Puma is filed as an Exhibit 10.1 hereto and will be incorporated by reference into the Exhibits to the Form 10-Q for the quarter ended March 31, 2023, when filed.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1 | Amended and Restated Employment Agreement between Axcelis Technologies, Inc. and Mary G. Puma dated as of February 24, 2023. |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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.
Date: April 18, 2023 |
Axcelis Technologies, Inc. | |
By: | /s/ Lynnette C. Fallon | |
Lynnette C. Fallon |