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Actionable news in HAR: HARMAN INTERNATIONAL INDUSTRIES Inc,

Departure of Directors or Certain

Severance Agreements

On October13, 2015, Harman International Industries, Incorporated (Harman) entered into severance agreements (collectively, the Severance Agreements) with the following members of the Executive Committee: Blake Augsburger, Sanjay Dhawan, Philip Eyler, Michael Mauser, I.P. Park, Sandra Rowland, Ralph Santana, David Slump, John Stacey and Todd Suko. The Severance Agreements amend and restate, in a combined agreement, the prior severance agreements and change in control severance agreements, except for Mr.Dhawan and Mr.Eyler, who had not previously entered into any severance agreement with Harman. The Severance Agreement provides that if the executive is terminated without cause or terminates his or her own employment for good reason, he or she is entitled t o receive (i)a lump sum payment equal to one time his or her annual base salary plus target bonus in effect on the date of termination (two times, if such termination occurs during the two year period following a Change in Control, as defined in the Severance Agreement) and (ii)a prorated bonus for the fiscal year during which the termination occurs, which shall be payable based on actual performance at the same time annual bonuses for the fiscal year are paid to Harman employees generally (except that, if the applicable termination occurs during the two year period following a Change in Control, such bonus shall be prorated based upon the executives target bonus and paid on the 60th day following such termination). The executive is also entitled to receive (i)except for Mr.Mauser, 12months COBRA reimbursement on an after-tax basis (18 months, if the applicable termination occurs during the two year period...


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