<SEC-DOCUMENT>0000950142-17-001689.txt : 20170915
<SEC-HEADER>0000950142-17-001689.hdr.sgml : 20170915
<ACCEPTANCE-DATETIME>20170915171349
ACCESSION NUMBER:		0000950142-17-001689
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170915
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20170915
DATE AS OF CHANGE:		20170915

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HRG GROUP, INC.
		CENTRAL INDEX KEY:			0000109177
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				741339132
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04219
		FILM NUMBER:		171088587

	BUSINESS ADDRESS:	
		STREET 1:		450 PARK AVENUE
		STREET 2:		29TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-906-8548

	MAIL ADDRESS:	
		STREET 1:		450 PARK AVENUE
		STREET 2:		29TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HARBINGER GROUP INC.
		DATE OF NAME CHANGE:	20091224

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZAPATA CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZAPATA NORNESS INC
		DATE OF NAME CHANGE:	19720314
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<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">UNITED STATES</div>

<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Washington, D.C. 20549</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">FORM&#160;8-K</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">CURRENT REPORT</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Pursuant to Section&#160;13 OR 15(d)&#160;of the Securities Exchange Act of 1934</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">Date of Report (Date of earliest event reported): <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">September 15, 2017</font></div>

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<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">HRG GROUP, INC.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">(Exact name of registrant as specified in its charter)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">(State or other jurisdiction of</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">incorporation)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">450 Park Avenue, 29<font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', Times, serif">th</font> Floor</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">New York, New York 10022</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">Registrant&#8217;s telephone number, including area code: <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">(212) 906-8555</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Check the appropriate box below if the Form&#160;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Pre-commencement communications pursuant to Rule&#160;14d-2(b)&#160;under the Exchange Act (17 CFR 240.14d-2(b))</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Pre-commencement communications pursuant to Rule&#160;13e-4(c)&#160;under the Exchange Act (17 CFR 240.13e-4(c))</div>
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<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Emerging growth company <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">&#9744;</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">&#9744;</font></div>

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<div style="FONT-FAMILY: 'Times New Roman'">
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">As previously disclosed, on January 20, 2017, HRG Group, Inc. (the &#8220;Company&#8221;) entered into a retention letter agreement with George Nicholson, the Company&#8217;s Senior Vice President, Chief Accounting Officer and Chief Financial Officer (the &#8220;Prior Nicholson Agreement&#8221;). The Prior Nicholson Agreement was designed to retain and incentivize Mr. Nicholson to remain employed with the Company during its fiscal 2017 year and for the filing of the Company&#8217;s Annual Report on Form 10-K for such year.&#160; The Company desires to retain Mr. Nicholson to remain employed during its fiscal 2018 year and for the filing of the Company&#8217;s Annual Report on Form 10-K for such year and has entered into an amended and restated retention letter agreement with Mr. Nicholson dated September 15, 2017 (the &#8220;Nicholson Retention Agreement&#8221;), which superseded in its entirety the Prior Nicholson Agreement.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">Pursuant to the Nicholson Retention Agreement, Mr. Nicholson&#8217;s base salary will be increased from $325,000 to $338,000 effective as of October 1, 2017.&#160; Subject to Mr. Nicholson&#8217;s continued employment with the Company through the earliest of November 30, 2017, the date the Company files its Annual Report on Form 10-K for the fiscal year ending September 30, 2017 or an earlier date selected by the Company he will receive (i) a retention payment equal to $325,000 (this payments was scheduled to be paid under the Prior Nicholson Agreement for fiscal 2017) and (ii) a bonus equal to $400,000 (this payments was scheduled to be paid under the Prior Nicholson Agreement for fiscal 2017).&#160; Subject to Mr. Nicholson&#8217;s continued employment with the Company through the earliest of November 30, 2018, the date the Company files its Annual Report on Form 10-K for the fiscal year ending September 30, 2018 or an earlier date selected by the Company, in addition to the payments in the preceding sentence, Mr. Nicholson will receive (i) a retention payment equal to $325,000 and (ii) a bonus equal to $425,000.&#160; In addition, he will be eligible to receive COBRA reimbursement for a period of up to 12 months if his employment is terminated.&#160; Mr. Nicholson will also receive these payments if his employment is terminated by the Company without Cause (as defined in the Nicholson Retention Agreement) or by Mr. Nicholson for Good Reason (as defined in the Nicholson Retention Agreement).&#160; However, if Mr. Nicholson's employment is terminated by the Company for Cause or if he resigns without Good Reason, in each case prior to such payments, he will not be eligible for the retention payment, bonus and COBRA reimbursement.&#160; The retention payments, bonuses and COBRA reimbursement are conditioned upon Mr. Nicholson&#8217;s execution of a customary release and will be in lieu of any severance or bonus payments pursuant to his employment agreement.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">As previously disclosed, on January 20, 2017, the Company entered into a retention letter agreement with Ehsan Zargar, the Company&#8217;s Executive Vice President, Chief Operating Officer, General Counsel and Corporate Secretary (the &#8220;Prior Zargar Agreement&#8221;).&#160; The Prior Zargar Agreement was designed to retain and incentivize Mr. Zargar to remain employed with the Company for its fiscal 2017 year.&#160; The Company desires to retain Mr. Zargar to remain employed during its fiscal 2018 year and has entered into an amended and restated retention letter agreement with Mr. Zargar dated September 15, 2017 (the &#8220;Zargar Retention Agreement&#8221;), which superseded in its entirety the Prior Zargar Agreement.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Pursuant to the Zargar Retention Agreement, Mr. Zargar will be entitled to receive retention payments of $1,000,000 on October 2, 2017 (this payment was scheduled to be paid under the Prior Zargar Agreement for fiscal 2017), $1,000,000 on the later of the FGL Closing Date and January 15, 2018 (this payment was scheduled to be paid under the Prior Zargar Agreement on the Transaction Closing Date), $2,000,000 on June 30, 2018 and $2,000,000 on October 1, 2018, in each case less applicable taxes (such payments, collectively, the &#8220;Payments&#8221;). The Payments are subject to the Executive&#8217;s continued employment with the Company on the specified dates.&#160; To the extent not already paid, the date for making such Payments will be accelerated if the Transaction Closing Date (as defined below) occurs prior to the dates specified above.&#160; In addition, if the Executive is terminated by the Company without Cause (as defined in the Zargar Retention Agreement), or if he resigns for Good Reason (as defined in the Zargar Retention Agreement) or as a result of his death or disability, the Executive will receive the Payments, to the extent not yet paid.&#160; In each such case, Mr. Zargar is entitled to receive COBRA coverage for up to six months The retention payments, bonuses and COBRA reimbursement are conditioned upon Mr. Zargar&#8217;s execution of a customary release and will be in lieu of any severance or bonus payments pursuant to his employment agreement.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">As used in the Zargar Retention Agreement, &#8220;Transaction Closing Date&#8221; means the date the Company closes a sale, merger, change in control or other strategic transaction involving the Company and substantially all of its assets, which shall include the Company&#8217;s beneficial ownership interests in both Spectrum Brands Holdings, Inc. (&#8220;SPB&#8221;) and Fidelity &amp; Guaranty Life (&#8220;FGL&#8221;) to the extent the Company beneficially owns interests in SPB or FGL on such date; and &#8220;FGL Closing Date&#8221;&#160; means the date the Company closes a sale, merger, change in control or other strategic transaction involving the Company&#8217;s beneficial ownership interests in FGL.</div>
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<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SIGNATURES</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">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 authorized.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">HRG GROUP, INC.</div>
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<td style="FONT-FAMILY: 'Times New Roman'; WIDTH: 35%; BORDER-BOTTOM: #000000 2px solid" valign="top" nowrap="nowrap" align="left">/s/&#160;George Nicholson</td>
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<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 35%" valign="bottom" nowrap="nowrap" align="left">Name: George Nicholson</td>
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<div>Title: Senior Vice President, Chief Financial Officer<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>&amp; Chief Accounting Officer</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Dated: September 15, 2017</div>

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