Attached files
| file | filename |
|---|---|
| EX-99.1 - ALCO STORES INC | zigsepagmt.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) March 16, 2010.
Duckwall-ALCO
Stores, Inc.
(Exact
name of registrant as specified in its charter)
|
Kansas
|
0-20269
|
48-0201080
|
|
(State
or other jurisdiction
of
incorporation)
|
(Commission
File
Number)
|
(IRS
Employer
Identification
No.)
|
401
Cottage
Abilene,
Kansas 67410-2832
(Address
of principal executive offices) (Zip Code)
(785)
263-3350
(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 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.
|
Lawrence J. Zigerelli recently resigned
from his position of President and Chief Executive Officer of Duckwall-ALCO
Stores, Inc. (the “Company”). Pursuant to Mr. Zigerelli’s resignation, the
Company and Mr. Zigerelli entered into a Separation and Release Agreement
(“Separation Agreement”) dated March 9, 2010. However, under the Separation
Agreement, Mr. Zigerelli was given the right to rescind the Separation Agreement
for seven days from the effective date. Therefore, the Separation Agreement was
not binding on the Company and Mr. Zigerelli until March 16, 2010.
Under the Separation Agreement, the
Company is obligated to provide Mr. Zigerelli the following: (1) pay Mr.
Zigerelli $125,000 over a twelve month period; (2) reimburse Mr. Zigerelli for
six months for his COBRA premiums; and (3) amend Mr. Zigerelli’s stock option
award agreements to permit net exercise of his vested stock
options.
A copy of the Separation Agreement is
attached hereto as Exhibit 99.1 and incorporated herein by
reference. The foregoing description is qualified in its entirety by
reference to the full text of the exhibit.
Item
7.01 Regulation FD Disclosure.
The information set forth in Item 5.02
is incorporated herein by reference, in its entirety, into this Item
7.01.
Item
9.01 Financial
Statements and Exhibits.
(d) Exhibits.
|
99.1
|
Separation
and Release Agreement between the Company and Lawrence J. Zigerelli dated
March 9, 2010, furnished solely for the purpose of incorporation by
reference into Items 5.02 and 7.01.
|
SIGNATURES
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:
March 16, 2010
|
DUCKWALL-ALCO
STORES, INC.
By: /s/ Richard E.
Wilson
Richard E. Wilson
President and Chief
Executive
Officer
|
INDEX
TO EXHIBITS
Exhibit
Number Description
|
|
99.1
|
Separation
and Release Agreement dated March 9, 2010 between the Company and Lawrence
J. Zigerelli
|
CWDOCS
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