UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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. |
On January 12, 2022, Quotient Limited (the “Company”) amended its employment agreement (the “Amendment”) with Manuel O. Méndez, its Chief Executive Officer, dated February 23, 2021 (as amended, the “Employment Agreement”), to provide for (i) the payment by the Company to Mr. Méndez of a relocation allowance in the aggregate maximum amount of CHF 1’262’536 including an allowance of CHF 217’200 that will be payable to Mr. Méndez only if he acquires a primary residence in Switzerland by March 31, 2022, and (ii) the deletion from the Employment Agreement of all provisions under which Mr. Méndez otherwise would be entitled to payment or reimbursement of expenses incurred in connection with his relocation from the United States to Switzerland. The Amendment provides that various amounts previously paid by the Company on account of Mr. Méndez’s relocation expenses will be credited against the relocation allowance, leaving a balance that is payable to Mr. Méndez of CHF 261’700 (but as described above, CHF 217’200 of that amount will be payable only if Mr. Méndez acquires a primary residence in Switzerland by March 31, 2022). The relocation allowance is payable net of deductions for social security costs and taxes. A copy of the Amendment is included as Exhibit 10.2 to this Current Report on Form 8-K.
The foregoing description of the terms of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, reference to the Amendment, which is filed herewith as Exhibit 10.2 and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| * | Filed herewith |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
January 14, 2022
| QUOTIENT LIMITED | ||
| By: | /s/ Manuel O. Méndez | |
| Name: Manuel O. Méndez | ||
| Title: Chief Executive Officer | ||