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LMI AEROSPACE INC FILES (8-K/A) Disclosing Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Financial Statements and Exhibits(Edgar Glimpses Via Acquire Media NewsEdge) Item 1.01 - Entry into a Material Definitive Agreement. The disclosure provided in Item 5.02 of this Current Report on Form 8-K is hereby incorporated by reference into Item 1.01. Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously reported in the Current Report on Form 8-K of LMI Aerospace, Inc. (the "Company") filed October 14, 2014, as amended October 31, 2014, Cynthia G. Maness ceased serving as Vice President of Human Resources and Organizational Development effective October 27, 2014. In connection with her departure, Ms. Maness' Employment Agreement dated January 1, 2014 (the "Employment Agreement") was terminated and Ms. Maness entered into a Separation and General Release Agreement dated November 4, 2014 (the "Release"). The Release is subject to a revocation period in accordance with law and will become effective November 12, 2014 (the "Effective Date"). The Release provides for the payment of a severance amount and bonus amount. Per the terms of the Employment Agreement, the severance amount is the equivalent of twelve months of Ms. Maness' base salary and is equal to Two Hundred Forty-Seven Thousand Four Hundred Fifty-Nine Dollars and Thirty-Four Cents ($247,459.34), less applicable withholdings. The bonus amount is Two Hundred Ninety-Seven Thousand Five Hundred Seventy-One Dollars and Forty-Nine Cents ($297,571.49). The Company will pay the severance amount and the bonus amount to Ms. Maness in one lump sum. The Seven Thousand Nine Hundred Fifty One (7,951) shares of Company stock that were previously awarded to Ms. Maness, but remain unvested, will also vest as of the Effective Date. The Company will also provide additional benefits to Ms. Maness as detailed in the Release. In the Release, Ms. Maness released any and all claims she may have against the Company and its affiliates. The Release also imposes various other obligations on Ms. Maness that are commonly contained in severance agreements and releases of executive officers. The foregoing summary of the Release does not purport to be complete and is qualified in its entirety by reference to the complete Release, which is attached as Exhibit 10.1 and incorporated herein by reference. Item 9.01. Financial Statements and Exhibits. (d) Exhibits. See the Exhibit Index which is hereby incorporated by reference. -------------------------------------------------------------------------------- |