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.
(b) and (e)On September 6, 2019, Brooks Automation, Inc. (the “Company”) entered into a Separation Agreement (the “Separation Agreement”) with Maurice H. Tenney, III, the Company’s President, Brooks Life Sciences, under which Mr. Tenney’s employment with the Company was terminated as of September 6, 2019. Under the terms of the Separation Agreement, (i) the Company agreed to provide Mr. Tenney, among other things, (a) severance in the amount of $465,000, payable biweekly over a 12-month period, provided, if Mr. Tenney has not found a full-time position during such 12-month period, the Company will extend the biweekly payments until the earlier of the date Mr. Tenney begins new employment and an additional 12 months, (b) an award under the Company’s FY 2019 performance-based variable compensation plan payable, if earned, when awards earned by other employees under the plan are paid, and (c) group health insurance and dental insurance under the federal Consolidated Omnibus Budget Reconciliation Act (COBRA) during the severance period referred to above, and (ii) Mr. Tenney agreed to release the Company from any claims he may have against the Company related to his employment with the Company. In connection with the Separation Agreement, the Company and Mr. Tenney also entered into a Consulting Agreement (the “Consulting Agreement”) under which Mr. Tenney will provide certain transitional services to the Company through November 30, 2019 in exchange for the continued vesting of his outstanding equity awards through the term of the Consulting Agreement.
The foregoing descriptions of the Separation Agreement and the Consulting Agreement are qualified in their entirety by reference to the Separation Agreement and the Consulting Agreement, the form of which is attached to the Separation Agreement as an exhibit. The Company plans to file a copy of the Separation Agreement with its Annual Report on Form 10-K for the fiscal year ending September 30, 2019.
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.
BROOKS AUTOMATION, INC. | |
Date: September 9, 2019 | /s/ Jason W. Joseph Senior Vice President, General Counsel and Secretary |