Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
In connection with the departure of John Filipowicz, President Residential
Markets on August 21, 2009, RCN Telecom Services, Inc., a wholly owned
subsidiary of RCN Corporation, entered into a Severance Agreement (the
"Severance Agreement") with Mr. Filpowicz on September 3, 2009. Under the
Severance Agreement, Mr. Filipowicz will receive separation payments in the
total amount of $250,000, less applicable withholding, a pro rata bonus for the
period from January 1, 2009 through the separation date, benefits continuation
through the earlier of December 31, 2010 or the date Mr. Filipowicz becomes
eligible for benefits coverage from another source and the vesting of equity
awards as if he remained employed through the 12-month period following the
separation date. The foregoing description of the Severance Agreement does not
purport to be complete and is qualified in its entirety by reference to the
Severance Agreement, a copy of which is attached to this Current Report on Form
8-K as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
10.1 Severance Agreement dated as of September 3, 2009 between RCN Telecom
Services, Inc. and John Filipowicz.