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WMI HOLDINGS CORP. FILES (8-K) Disclosing Change in Directors or Principal Officers
October 25, 2012
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Edgar Online, Inc.
Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers
Effective October 23, 2012, WMI Holdings Corp. (the "Company") entered into an Amendment to Engagement Agreement between the Company and CXO Consulting Group, LLC ("CXO") under which Timothy Jaeger will continue serving as interim Chief Accounting Officer and interim Chief Financial Officer of the Company ("Amendment to Engagement Letter"). The Amendment to Engagement Letter extends the term through March 31, 2013 and effective October 1, 2012 increases the monthly fee payable to CXO to $20,000 per month, based on an average of 35-45 hours worked per week. A copy of the Amendment to Engagement Agreement is attached hereto as Exhibit 99.1. The original engagement agreement was previously filed as Exhibit 99.2 to Form 8-K filed on June 4, 2012.
Cautionary Statement Regarding Forward-Looking Statements
This Form 8-K and the exhibits contain certain statements that may be deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the Company's current plans, expectations, estimates and management's beliefs about the Company's future performance. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" or variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties that are difficult to predict and which may cause the Company's actual results and performance to differ materially from those expressed or forecasted in any such forward-looking statements. These risks include, among other factors, changes in business, economic and market conditions, changes in government regulation, and changes in the competitive environment in which the Company operates. Some of the specific risks that are associated with the Company include, but are not limited to, the following: (i) the Company does not currently intend to have any of its securities listed on an exchange or a national market and, therefore, its common stock may have less liquidity than exchange-traded securities; (ii) transfers of the common stock of the Company are and will continue to be subject to certain transfer restrictions as set forth in the Articles and Bylaws; (iii) there is no guarantee that the Company will be able to successfully utilize the net operating losses that will be retained by the Company; and (iv) the Company may need to seek regulatory approval from the Hawaii State Insurance Commissioner from time to time with respect to certain aspects of WM Mortgage Reinsurance Company, Inc.'s operations. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements. However, readers should carefully review the statements set forth in the reports, which the Company has filed or will file from time to time with the Securities and Exchange Commission.
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