WOW... it looks like Bernie Han is out of touch with his new job. Bernie says Frontier has strong core business that maintains the trust of millions of customers. I think Bernie is talking about Frontier airlines where he is on board of directors, not the mismanaged over-leveraged rated worst phone company in the country. Yup Bernie's here to do the cuts and bankruptcy...…..
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Applying the Dish network model of making the customers grovel for pittance while raising rates Bernie steers Frontier to a further disappointing result. hiding away in the executive suite he hides from the angry customer thrusting first line workers to helplessy bear the brunt. Truly a self serving coward.
It’s amazing how many emails and communications go out from management with grammatical errors and misspelled words.
It’s funny how someone can just cut and paste useless diatribe and then not comment why it was posted. It smacks of lost intelligence. You must be a supervisor for FTR.
From In connection with Mr. Han’s appointment as President and Chief Executive Officer, Mr. Han and the Company entered into an Employment
Agreement, dated December 3, 2019, which provides for an initial three-year term of employment, with automatic renewal for one-year periods
thereafter unless terminated by either party. Pursuant to the Employment Agreement, Mr. Han will be eligible for an annual base salary of $1.3
million, an aggregate annual short- and long-term incentive compensation opportunity of $6.7 million at target performance, and temporary housing
and reimbursement of travel-related expenses until May 13, 2020. Mr. Han will also receive a cash retention bonus of $2 million upon execution of
the Employment Agreement, which amount must be repaid on an after-tax basis if Mr. Han is terminated for cause or resigns without good reason,
in each case, prior to December 3, 2020. Under the Employment Agreement, if Mr. Han is terminated without cause or resigns for good reason or if
the Company elects not to renew the term of the agreement, he will, subject to his execution and non-revocation of a general release of claims in
favor of the Company, receive (a) cash severance equal to one times his base salary (two times the sum of his base salary and target annual bonus,
if such termination occurs during the six-month period prior to or one-year period following a change in control), (b) a pro rata portion of his
outstanding incentive compensation awards (based on actual performance), and (c) continued health coverage for 12 months following his
termination of employment (18 months if such termination occurs within the six-month period prior to or one-year period following a change in
control). Mr. Han is also subject to customary restrictive covenants under the Employment Agreement, including one-year post-termination
restrictions on competing with or soliciting employees of the Company. The foregoing description of the Employment Agreement is qualified by
the full terms of the agreement, which is filed herewith as Exhibit 10.1 and incorporated by reference herein.
On December 3, 2019, the Company and Mr. McCarthy entered into a Release Agreement, pursuant to which Mr. McCarthy will generally receive
separation payments and benefits consistent with those payable upon a qualifying termination of employment under the Severance Agreement,
dated August 2, 2019, by and between the Company and Mr. McCarthy (which is filed as Exhibit 10.2 to the Company’s Quarterly Report on Form
10-Q, filed with the Securities and Exchange Commission on August 7, 2019), except that he will be entitled to 18 months of continued health
coverage following his separation from service. In addition, under the Release Agreement, Mr. McCarthy will also receive a payment of $807,300 in
respect of his bonus for the fourth quarter of 2019 (determined based on actual performance). The foregoing description of the Release Agreement
is qualified by the full terms of the agreement, which is filed herewith as Exhibit 10.2 and incorporated by reference herein.
On December 3, 2019, the Company issued a press release regarding the foregoing. The press release is furnished herewith as Exhibit 99.1 the 8k Pay information and performance bonus for new CEO and exit pay to the guy who left
Only supervisors and directors typically have grammar that bad at this company.
I think you meant, "Yea, they let Danny Boy stay way too long …...there is no digging out of this financial mess now."
Yea they let Danny Boy stay way to long …...there is know digging out of this financial mess now