Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On January 10, 2020, Core Molding Technologies, Inc. (the "Company") announced
that Terrence O'Donovan, Executive Vice President of Marketing and Sales, would
no longer be employed by the Company after January 31, 2020.
In connection with Mr. O'Donovan's separation, on January 28, 2020, the Company
and Mr. O'Donovan entered into a Confidential Release Agreement (the "Release
Agreement"). Pursuant to the Release Agreement, Mr. O'Donovan agreed to, among
other things, (a) receive compensation in accordance with section 5(b) of his
employment agreement, which provides twelve months compensation equal to base
salary as of termination date, (b) direct payment for Mr. O'Donovan's portion of
monthly COBRA premiums for twelve months following Release Agreement effective
date, (c) vesting of 33,473 of previously awarded unvested restricted stock
shares, which restricted stock shares will vest in three equal installments on
July 31, 2020, January 31, 2021, and July 31, 2021, (d) customary
non-disparagement and confidentiality covenants and (e) release and waive any
and all claims against the Company and its representatives, including claims
that arise out of his employment or relationship with the Company or any of its
representatives and the cessation of his employment, except for the enforcement
of the Release Agreement.
A copy of the Separation Agreement is attached as Exhibit 10.1 to this Current
Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(a) Exhibits
Exhibit Number Description
Separation Agreement entered into with Terrence O'Donovan,
10.1 Executive Vice President of Marketing and Sales, dated January
28,2020--------------------------------------------------------------------------------
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CORE MOLDING TECHNOLOGIES, INC. 
