UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 27, 2010
RSC Holdings Inc.
RSC Holdings III, LLC
RSC Equipment Rental, Inc.
(Exact name of registrant as specified in its charter)
Delaware Delaware Arizona |
001-33485 333-144625-01 333-144625 |
22-1669012 41-2218971 86-0933835 |
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(State or other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
6929 E. Greenway Parkway, Suite 200 Scottsdale, Arizona |
85254 | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrants telephone number, including area code: (480) 905-3300
N/A |
(Former name or former address if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers. |
| Base Salary: Ms. Chiodo will be entitled to a base salary of $365,000 per year. |
| Bonus Plan: Ms. Chiodo will be entitled to participate in our Key Employee Short-Term Incentive Compensation Plan. Our
Key Employee Short-Term Incentive Compensation Plan is filed as
Exhibit A to our Proxy Statement for the Annual Meeting of
Stockholders held April 20, 2010, on Form DEF 14A
(333-140644), filed with the Securities and Exchange Commission on
March 15, 2010. |
| Equity Incentives: Ms. Chiodo will be eligible to participate in our discretionary long
term incentive plan during the course of her employment with the Company, subject to the
discretion of the Board. Any long term incentive awards will be governed by our Amended and
Restated Stock Incentive Plan, which is filed as Exhibit B to our Proxy Statement for the
Annual Meeting of Stockholders held May 29, 2008, on Form DEF 14A (001-33485), filed with the
Securities and Exchange Commission on April 18, 2008. |
| Other Benefits: Ms. Chiodo will be entitled to all benefits and conditions of employment
generally provided to our other employees. |
| Severance: In the event Ms. Chiodo is terminated for any reason other than for cause (as
defined in the agreement) or Ms. Chiodo terminates her employment for good reason (as
defined in the agreement) she will be entitled to the following severance benefits upon
execution and effectiveness of a general release of claims in our favor: |
| Base Salary: Ms. Chiodo will receive 18 months of base salary as severance. |
| Severance Bonus: We will make a pro rata payment of any amounts Ms. Chiodo would have
received under our Annual Incentive Plan. |
| Healthcare Coverage: We will pay continued health insurance coverage, in the same
proportion as Ms. Chiodo then currently has for up to 18 months or until she becomes
eligible for other health insurance, whichever comes first. |
| 401(k) Vesting: We will pay an amount equal to any unvested amounts under our 401(k)
Plan. |
| Outplacement Services: Ms. Chiodo will receive outplacement services. |
| Professional Association Fees: We will pay Ms. Chiodos association membership fees
for 18 months to the extent we previously paid such amounts. |
| Life Insurance: We will continue Ms. Chiodos life insurance coverage for 18 months. |
Exhibit No. | Description | |
10.1
|
Executive Employment and Noncompetition Agreement, by and between Patricia D. Chiodo and RSC Holdings Inc., effective October 1, 2010. |
RSC Holdings Inc. RSC Holdings III, LLC RSC Equipment Rental, Inc. |
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Dated: September 27, 2010 | By: | /s/ Kevin J. Groman | ||
Kevin J. Groman | ||||
Senior Vice President, General Counsel and Corporate Secretary |
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Exhibit No. | Description | |
10.1
|
Executive Employment and Noncompetition Agreement, by and between Patricia D. Chiodo and RSC Holdings Inc., effective October 1, 2010. |