PDI Evaporation? Really? Huh?

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More good stuff:
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers. In connection with the workforce reduction, the Company expects to enter into a Severance Agreement and General Release (the "Agreement") with Gerald R. Melillo, Jr., the Company's President, Sales Services. Mr. Melillo's last day of employment with the Company will be December 1, 2015. Pursuant to his employment agreement, Mr. Melillo will receive a lump sum cash separation payment of $420,899, equal to 12 months' base salary ($321,360) and one times his average annual bonus over the preceding three years ($99,539). The severance charge would have been incurred as part of the the close of the proposed sale of the Company's CSO segment, but is being recognized earlier to attain additional cost savings.
The Company has previously granted Mr. Melillo 122,484 shares of restricted stock, none of which have vested, and 108,949 stock appreciation rights ("SARs"), of which 60,755 have vested. The unvested shares of restricted stock and SARs would typically be forfeited on the date of the employee's termination. In connection with Mr. Melillo's separation, under the Agreement, the outstanding shares of restricted stock and SARs will vest and become exercisable (as applicable) upon the closing of the proposed sale of the Company's CSO segment, if the closing occurs

on or before February 28, 2016. If such sale does not close on or before February 28, 2016, Mr. Melillo will forfeit all of his outstanding shares of restricted stock and SARs.
Under his employment agreement, Mr. Melillo will be entitled to receive 12 months' of continued medical coverage at the Company's expense, which is valued at approximately $24,288.
The description of his employment agreement contained herein does not purport to be complete and is qualified in its entirety by reference to the complete text of the agreement, a copy of which is filed as an exhibit to the Company's Form 10-K for the fiscal year ending December 31, 2014. Upon entering into the Agreement, a Form 8-K/A will be filed by the Company to disclose the material terms and conditions of the Agreement and the Agreement will be filed as an exhibit to such Form 8-K/A.
Additional Information About the Proposed Sale and Where to Find it
 






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