CHEMED CORP
For the period ended Jun 30, 2025. Filed Jul 31, 2025.
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Jun 30, 2025 · Filed Jul 31, 2025
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Item 5. Other Information
On July 29, 2025, Chemed entered into a Transition and Separation Agreement with Nicholas M. Westfall in connection with Mr. Westfall’s immediate departure as VITAS Healthcare’s Chairman and Chief Executive Officer, and departure as an Executive Vice President of Chemed on December 1, 2025. The agreement provides that Mr. Westfall will continue to receive his salary through December 1st, and then will receive severance in the amount of $2,226,010, Chemed’s contribution of $350,920 to his non-qualified plans, continued benefits for up to one year, and certain other immaterial terms. Additionally, Mr. Westfall agreed to cancel his outstanding Preferred Share Units (PSUs) in consideration for a grant of $750,000 of Chemed shares on December 1st. Mr. Westfall will continue to provide services to Chemed through December 1st, and the agreement provides for certain restrictive covenants in effect for a year thereafter.
The above description is qualified in its entirety by the complete text of the agreement, attached hereto as Exhibit 10.1.
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