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EX-10.1 - EXHIBIT 10.1 - DCP Holding COex10-1.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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): July 21, 2016

 

DCP Holding Company

(Exact name of registrant as specified in its charter)

 

Ohio

0-51954

20-1291244

(State or other jurisdiction of

(Commission

(I.R.S. Employer

incorporation or organization)

File Number)

Identification No.)

                           

100 Crowne Point Place, Sharonville, Ohio

 

45241

(Address of principal executive offices)

 

(Zip Code)

                                 

Registrant’s telephone number, including area code: (513) 554-1100

 

 

           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 July 21, 2016, the President and Chief Executive Officer and Robert C. Hodgkins, Jr. executed a DCP Holding Company Employment Agreement by and between DCP Holding Company (the “Company”) and Robert C. Hodgkins, Jr., with an effective date of January 1, 2016. The amended employment agreement provides for a base salary of not less than $258,677 and annual bonus eligibility of between 15% and 40% of base salary. This agreement also provides for long term incentive award eligibility of equal to 5% of base salary in the form of share awards based on continued employment and up to 25% of base salary in the form of cash contingent on the performance of the Company over a three year period, a monthly automobile allowance and certain severance benefits if Mr. Hodgkins is terminated without good cause. The Employment Agreement continues for a period of one year after the effective date and is automatically extended for successive one year periods. Mr. Hodgkins, age 56, has been Vice President and Chief Financial Officer of Dental Care Plus since July 2003 and Vice President and Chief Financial Officer of the Company since July 2004.

 

 

 

 

ITEM 9.01

Financial Statements and Exhibits

 

Exhibit 10.1

DCP Holding Company Employment Agreement effective January 1, 2016, dated July 21, 2016*

 

 

 

*

Reflects management contracts or compensatory plan or arrangement

 

 

 

 

 

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.

 

 

DCP Holding Company

 

 

 

 

 

 

 

 

 

Date: July 22, 2016

/s/ Robert C. Hodgkins, Jr.

 

 

Robert C. Hodgkins, Jr.

 

 

Vice President and Chief Financial Officer

 

 

 

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