Attached files
| file | filename |
|---|---|
| EX-10.1 - SEPARATION AND RELEASE AGREEMENT - WESBANCO INC | ex101.htm |
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) November 16, 2009 (November 13,
2009)
WesBanco,
Inc.
(Exact
name of registrant as specified in its charter)
|
West
Virginia
|
000-08467
|
55-0571723
|
|
(State
or other jurisdiction
|
(Commission
File Number)
|
(IRS
Employer
|
|
of
incorporation)
|
Identification
No.)
|
|
1
Bank Plaza, Wheeling, WV
|
26003
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant's
telephone number, including area
code (304)
234-9000
Former
name or former address, if changed since last report Not
Applicable
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
¨
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 5.02 Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
On and
effective as of October 27, 2009, and as reported in an 8-K dated November 2,
2009, Ralph E. Coffman separated from WesBanco, Inc. (the “Company”) as part of
a reorganization of the regional operations of the Company. Mr.
Coffman served as President West Region of the Company and was a named executive
officer in the proxy for the annual meeting of stockholders held April 15,
2009. The position of President West Region has been
eliminated.
A
Separation Agreement and Release and Waiver of Claims (the “Agreement”) was
executed with an effective date of November 13, 2009, and includes the following
material terms. Mr. Coffman will receive a lump sum payment equal to
nine months of salary in the gross amount of $164,423. The Company
will pay its share of health insurance premiums for nine months of continued
health coverage. In addition, the Company will pay all other benefits
to which Mr. Coffman is entitled under applicable benefit programs for a period
of nine months, including the vested balance of his KSOP account and certain
outplacement consulting services not to exceed $5,000.
Furthermore,
under the Agreement, Mr. Coffman and the Company released and discharged each
other from any liabilities and claims related to his employment with the Company
and his separation from the Company, subject to customary
exceptions.
Item 9.01 Financial
Statements and Exhibits
|
|
d)
|
Exhibits:
|
10.1 –
Separation Agreement and Release and Waiver of Claims between Ralph E. Coffman,
Jr.
and WesBanco Bank,
Inc.
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.
|
WesBanco, Inc.
|
|
|
(Registrant)
|
|
|
Date: November
16, 2009
|
/s/
Robert H. Young
|
|
Robert
H. Young
|
|
|
Executive
Vice President and
|
|
|
Chief
Financial Officer
|