ALLIANCE ONE INTERNATIONAL, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits

Edgar Glimpses |

Item 5.02 Departure of Directors or Certain Officers: Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain

Officers.



As previously announced, the retirement of Robert A. Sheets as Executive Vice President - Chief Administrative Officer of Alliance One International, Inc. (the "Company") is effective June 30, 2014. The Company and Mr. Sheets have entered into a consulting agreement dated June 27, 2014 (the "Agreement"). The term of the Agreement will commence on July 1, 2014 and continue until March 31, 2015 unless sooner terminated as provided in the Agreement. Under the Agreement, Mr. Sheets will provide management consulting, expertise and advisory services for general corporate issues, including, but not limited to, the Company's Information Services and Human Resources functional areas. During the term of the Agreement, Mr. Sheets is to devote such time as reasonably necessary to perform his services under the Agreement and to coordinate his work with the Company's President and Chief Executive Officer. In consideration for these services, Mr. Sheets will be paid $25,000 per month, plus reimbursement of reasonable expenses incurred in performing services under the Agreement. The agreement provides that Mr. Sheets shall be an independent contractor and not an employee of the Company with respect to his services provided under the Agreement. Mr. Sheets has agreed to observe customary confidentiality provisions under the Agreement. The Agreement is terminable upon 60 days' written notice by either the Company or Mr. Sheets.

The foregoing summary of the Agreement is qualified in its entirety by reference to the Agreement, which is filed as Exhibit 10.1 hereto and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

Exhibit No. Description 10.1 Consulting Agreement, dated as of June 27, 2014, between Alliance One International, Inc. and Robert A. Sheets

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