Leap Wireless has entered into a separation agreement with its chief operating officer, Raymond J. Roman, the company said in an SEC filing.
Roman will leave his position with immediate effect and his employment with the company will cease on 31 July….
Leap Wireless has entered into a separation agreement with its chief operating officer, Raymond J. Roman, the company said in an SEC filing.
Roman will leave his position with immediate effect and his employment with the company will cease on 31 July. Roman will receive a pay-out of US$495,000 and will provide consultancy services to the company until the end of the year. During the consultancy period he will be paid an amount equivalent to his current monthly salary and may be entitled to a cash bonus of up to US$220,000, depending on performance.
Roman, who joined Leap in February 2011, had earlier worked with Dell Inc and Motorola.
Leap did not disclose the reason for Roman’s departure.
This time last year Leap’s share price was US$14.71 but now it has fallen by to US$6.50, a 56% drop.
