Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 14, 2021, Cerner Corporation ("Cerner") and John T. Peterzalek,
Cerner's Executive Vice President and Chief Client & Services Officer, agreed to
terms pursuant to which Mr. Peterzalek will depart from Cerner on February 27,
2021. Effective as of close of business on January 14, 2021, Mr. Peterzalek
transitioned to Executive Senior Advisor and all of his responsibilities were
reassigned to Travis Dalton, who has been promoted to Executive Vice President
and Chief Client & Services Officer effective January 15, 2021. Mr. Peterzalek's
departure is not the result of any dispute or disagreement with Cerner, its
Board of Directors, or its management, or any matter relating to Cerner's
operations, policies or practices.
On the same date, Mr. Peterzalek and Cerner entered into a letter agreement
memorializing the terms of his separation. Pursuant to such agreement, including
among other matters Mr. Peterzalek's agreement to provide transition services,
and subject to his execution and non-revocation of a Separation Agreement
containing a general release of claims, Mr. Peterzalek will be entitled to
receive severance and the vesting of his outstanding equity awards pursuant to
the terms of his Executive Severance Agreement dated December 14, 2017, which
was previously filed as Exhibit 10.13 to the Company's annual report on Form
10-K filed February 8, 201 9 .
The foregoing description of the letter agreement and Separation Agreement with
Mr. Peterzalek does not purport to be complete and is qualified in its entirety
by reference to the full text of such letter agreement and Separation Agreement.
Cerner will file the letter agreement as an exhibit to a subsequent periodic
report filed with the U.S. Securities and Exchange Commission.
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