Attached files
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| EX-10.1 - SEVERANCE AGREEMENT BETWEEN COMMAND CENTER, INC. AND FREDERICK SANDFORD DATED MA - HireQuest, Inc. | ccni_ex101.htm |
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) March 28, 2018
COMMAND CENTER, INC.
(Exact
name of registrant as specified in its charter)
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Washington
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000-53088
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91-2079472
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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3609 S. Wadsworth Blvd., Suite 250 Lakewood, CO
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80235
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(Address
of principal executive offices)
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(Zip
Code)
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(866) 464-5844
(Registrant’s
telephone number, including area code)
Not applicable.
(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 (see General Instruction A.2.
below):
☐
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
☐
Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17
CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of
1934 (17 CFR §240.12b-2). Emerging growth company
☐
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act. ☐
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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
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On March 28, 2018, we entered into a severance agreement with our
Chief Executive Officer Frederick (Bubba) Sandford. Previously, Mr.
Sandford had tendered his notice of termination of his employment
effective April 1, 2018. Pursuant to the severance agreement, we
mutually agreed to terminate Mr. Sandford’s employment as of
March 31, 2018, 11:59 p.m. In addition, Mr. Sandford agreed to
resign as a member of our Board of Directors and from all other
positions with Command Center, also effective at 11:59 p.m. on
March 31, 2018. In return, we agreed to pay Mr. Sandford $275,000
severance, an amount equal to 105% of the value of Mr.
Sandford’s unexercised options whether vested or not, and
$25,000 to cover his legal fees. All unexercised options were
terminated and cancelled as a result. The severance agreement
contains mutual release of claims and non-disparagement
provisions.
The
foregoing description of the severance agreement is not complete
and is qualified in its entirety by reference to the full text of
the severance agreement, a copy of which is filed herewith as
Exhibit 10.1 to this Current Report on Form 8-K and is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
Severance Agreement
between Command Center, Inc. and Frederick Sandford dated March 28,
2018.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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Command
Center, Inc.
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(Registrant)
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Date:
April 3, 2018
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/s/
Brendan Simaytis
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Name: Brendan
Simaytis
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Title: Secretary
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