AND EXCHANGE COMMISSION
TO SECTION 13 OR 15(d) OF THE
EXCHANGE ACT OF 1934
report (Date of earliest event reported): April 5, 2010
name of registrant as specified in its charter)
other jurisdiction of incorporation)
Employer Identification No.)
of principal executive offices)
telephone number, including area code) (248) 737-4190
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
of Directors or Certain Officers; Election of Directors; Appointment
Officers; Compensatory Arrangements of Certain
5, 2010, Agree Realty Corporation announced the appointment of Laith Hermiz as
Executive Vice President of the Company. Mr. Hermiz, 39 will be
responsible for implementing new development and redevelopment initiatives as
well as overseeing Agree’s asset management initiatives.
2007 until joining us on April 5, 2010 Mr. Hermiz served as Vice President,
Development for Ramco-Gershenson Property Trust. Prior to joining
Ramco-Gershenson he was Managing Director of
Joseph Freed and Associates, LLC. Mr. Hermiz holds a Bachelor of
Science degree from Loyola University – Chicago and a Juris Doctorate degree
from University of Detroit Mercy School of Law.
5, 2010, Agree Realty Corporation, through its Operating Partnership, Agree
Limited Partnership, entered into a Letter Agreement of Employment with Laith
Hermiz, Executive Vice President of the Company. Mr. Hermiz’s initial
annual base salary under the agreement is $215,000. In addition, Mr.
Hermiz is entitled to a starting bonus of $15,000 and an initial grant of 7,250
shares of restricted stock. Mr. Hermiz is eligible to participate in
benefits plans generally made available from time to time to other executive
officers of the Company. The agreement also provides that Mr. Hermiz
will receive 2,500 shares of restricted at the end of each year he is employed
with the Company.
The employment relationship with
Mr. Hermiz and the Company is on an at-will basis.
Pursuant to a press release on April 5,
2010, the Company announced the appointment of Laith Hermiz as Executive Vice
President of the Company. A copy of the press release is furnished as an exhibit
to this report and is incorporated by reference herein.
Statements and Exhibits.
10.1 Letter Agreement of Employment dated April 5, 2010, between Agree Limited
Partnership and Laith Hermiz.
99.1 Press Release dated April 5, 2010
information contained in the press release attached as Exhibit 99.1 to this
report shall not be deemed “filed” for the purposes of Section 18 of the
Securities Exchange Act of 1934 or otherwise subject to the liabilities of that
section. Furthermore, the information contained in the press release attached as
Exhibit 99.1 to this report shall not be deemed to be incorporated by reference
in the filings of the registrant under the Securities Act of 1933.
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
Kenneth R. Howe
President, Finance, Chief Financial Officer