0000750813-16-000056.txt : 20160809 0000750813-16-000056.hdr.sgml : 20160809 20160809144327 ACCESSION NUMBER: 0000750813-16-000056 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20160803 ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160809 DATE AS OF CHANGE: 20160809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEITEL INC CENTRAL INDEX KEY: 0000750813 STANDARD INDUSTRIAL CLASSIFICATION: OIL AND GAS FIELD EXPLORATION SERVICES [1382] IRS NUMBER: 760025431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10165 FILM NUMBER: 161817402 BUSINESS ADDRESS: STREET 1: 10811 S. WESTVIEW CIRCLE STREET 2: BUILDING C, SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77043 BUSINESS PHONE: 7138818900 MAIL ADDRESS: STREET 1: 10811 S. WESTVIEW CIRCLE STREET 2: BUILDING C, SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77043 FORMER COMPANY: FORMER CONFORMED NAME: SEISMIC ENTERPRISES INC DATE OF NAME CHANGE: 19870814 8-K 1 sei08-09x16form8xk.htm FORM 8-K Document


 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_______________________________________________
FORM 8-K
_______________________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 3, 2016
_______________________________________________
 SEITEL, INC.
(Exact name of Registrant as Specified in its Charter)
______________________________________________

Delaware
(State or Other Jurisdiction of Incorporation)
001-10165
(Commission File Number)
76-0025431
(IRS Employer Identification No.)
10811 S. Westview Circle Drive
Building C, Suite 100
Houston, Texas 77043
(Address of Principal Executive Offices)
(713) 881-8900
(Registrant's telephone number, including area code)
Not Applicable
(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 obligations of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 





Item 1.02 Termination of a Material Definitive Agreement.
In accordance with the terms of the Employment Agreement between Seitel, Inc. (the “Company”) and David Richard dated as of February 15, 2012 (the “Employment Agreement”), pursuant to which Mr. Richard has served as President of Seitel Canada Ltd., an indirect subsidiary of the Company, located in Calgary, Alberta, Canada, the Company provided notice to Mr. Richard on August 3, 2016 that, due to current industry conditions, his last day of employment with the Company will be August 15, 2016. Pursuant to the terms of the Employment Agreement, the Company will pay to Mr. Richard, in addition to his base salary and other amounts earned by him through his last day of his employment, certain severance benefits, including an amount equal to one year’s base salary, provided that Mr. Richard executes a release of claims. The provisions of the Employment Agreement that survive termination, including the confidentiality and non-competition provisions, shall continue as set forth in the Employment Agreement.
The Employment Agreement was previously filed with the Securities and Exchange Commission and is incorporated herein by reference as shown in Exhibit 10.1 hereto.
Item 9.01 Financial Statements and Exhibits.
(d)    Exhibits:
10.1

Employment Agreement between Seitel, Inc. and David Richard dated as of February 15, 2012 (incorporated by reference from Exhibit 10.1 to the Seitel, Inc. Current Report on Form 8-K filed with the Securities and Exchange Commission on February 17, 2012).






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.
    
 
 
 
SEITEL, INC.
 
 
 
 
 
 
 
 
 
Date: August 9, 2016
 By:
/s/  Robert D. Monson
 
 
Robert D. Monson
 
 
Chief Executive Officer and President





EXHIBIT INDEX

Exhibit No.
 
Description
10.1
 
Employment Agreement between Seitel, Inc. and David Richard dated as of February 15, 2012 (incorporated by reference from Exhibit 10.1 to the Seitel, Inc. Current Report on Form 8-K filed with the Securities and Exchange Commission on February 17, 2012).