Item 5.02 Departure of Directors or Certain officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain officers.
On July 2, 2020, Agilysys, Inc. (the "Company") and Tony Pritchett, the
Company's former Chief Financial Officer entered into a post-employment
restrictive covenants agreement (the "Post-Employment Agreement"). As previously
reported by the Company, Mr. Pritchett resigned as Chief Financial Officer of
the Company effective June 1, 2020, and resigned as an employee of the Company
effective June 30, 2020. Under the terms of the Post-Employment Agreement, the
Company will pay Mr. Pritchett a lump sum cash payment of $44,200, and Mr.
Pritchett agrees for a period of one year after June 30, 2020, not to hire or
retain, or have any other person or firm hire or retain, any of the Company's
employees, and not to contribute his knowledge, directly or indirectly, as an
employee, owner, director, officer or other similar capacities to any entity
engaged in the same or similar business as the Company. Mr. Pritchett also
agrees to maintain the confidentiality of the Company's confidential
information.
The description of the Post-Employment Agreement contained herein does not
purport to be complete and is qualified in its entirety by reference to the full
text of the Post-Employment Agreement, which is filed as Exhibit 10.1 hereto and
is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
The following item is furnished as an exhibit to this current report on Form
8-K:
Exhibit Number Description
10.1 Post-Employment Restrictive Covenants Agreement dated July 2,
2020, by and between Agilysys, Inc. and Tony Pritchett.
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