W. Scott Emerick Will Recieve $462k As Part Of The Separation Agreement With Park-Ohio Holdings Corp.
In connection with the separation of W. Scott Emerick, former Vice President and Chief Financial Officer of Park-Ohio Holdings Corp. (NASDAQ:PKOH), from the Company and from its operating subsidiary, Park-Ohio Industries, Inc., Industries and Mr. Emerick entered into a separation agreement pursuant to which Mr. Emerick will receive the sum of $462,075 payable in equal monthly installments over twelve (12) months beginning July 25, 2015.
Mr. Emerick is entitled to participate in the Company’s medical benefits program for a one-year period and the Company will provide outplacement services for one year. The separation agreement also includes customary releases of claims by Mr. Emerick.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) is a holding company.
The Company operates through the subsidiaries owned by its direct subsidiary, which is Park-Ohio Industries, Inc.
Park-Ohio is an industrial supply chain logistics and diversified manufacturing business operating in three segments:
- Supply Technologies
- Assembly Components
- Engineered Products
Supply Technologies provides its customers with Total Supply Management services for a range of high-volume, specialty production components.
Assembly Components manufactures cast and machined aluminum components, automotive and industrial rubber and thermoplastic products, gasoline direct injection systems, fuel filler and hydraulic assemblies for automotive, agricultural equipment, construction equipment, heavy-duty truck and marine equipment industries.
Engineered Products operates a group of manufacturing businesses that design and manufacture a range of products engineered for specific customer applications.
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Source: http://marketdailynews.com/2015/07/08/w-scott-emerick-will-recieve-462k-as-part-of-the-separation-agreement-with-park-ohio-holdings-corp/
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