CACI International Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by CACI International Inc. on October 3, 2011. The filing discloses a specific executive compensation arrangement rather than routine financial results.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a personnel matter.
Material Changes
On October 3, 2011, CACI entered into a Severance Compensation Agreement with Mr. Daniel D. Allen, Chief Operating Officer, U.S. Operations. The agreement outlines specific financial terms triggered by a "termination event" (termination without cause or resignation for "good reason").
- Standard Termination: 12 months of base salary and six months of health care coverage.
- Change of Control Termination: If the termination occurs within one year of a change of control, the package increases to 18 months of base salary, six months of health care coverage, one times the average bonus payments from the preceding five fiscal years, and a prorated portion of the current fiscal year's bonus.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, or general risk commentary. The primary contingency disclosed is the potential financial liability associated with the severance agreement should Mr. Allen's employment be terminated under the defined conditions.
Key Facts for Investor Verification
- Verify the current status of Mr. Daniel D. Allen's employment.
- Review the specific definitions of "termination without cause" and "good reason" within the full agreement text.
- Assess the potential impact on future compensation expenses if a change of control occurs within the next year.