Market research firm Harris Interactive Inc. will pay its former CEO $900,000 as part of a separation agreement, the company Tuesday disclosed the separation agreement in a filing with the Securities and Exchange Commission.
Kimberly Till also receives the cash equivalent of 12 months of the company’s share of health and medical premiums at her employee rate, the filing states. A termination agreement letter states Till was terminated by mutual agreement effective June 7.
Till’s departure was announced June 9 in a SEC filing. The departure of Pavan Bhalla, chief financial officer, executive vice president and treasurer, was announced June 15.
His severance package amounts to a little more than $127,000, payable in a lump sum this December, in addition to cash for eight months of health insurance premiums. Till’s payments will be made in installments.
Former Harris Interactive officer Eric Narowski replaces Bhalla in an interim capacity. Till’s replacement, Al Angrisani, likewise is serving on an interim basis.
Tuesday afternoon, shares of Harris Interactive (NasdaqGS: HPOL) were trading at 70 cents, down 2 cents from Monday’s close.
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