March 29, 2016 / 2:05 PM / 3 years ago

BRIEF-Onvia says company and CEO Hank Riner entered into transition and release agreement

March 29 (Reuters) - Onvia Inc

* On March 28, co and Hank Riner, current president and chief executive officer entered into a transition and release agreement - sec filing

* Under terms, Riner will transition into planned retirement and 12-month consulting relationship with co

* Riner’s transition to be effective no later than June 30, 2017 or such earlier date that Onvia selects and announces a new chief executive officer

* Riner will continue to serve as company’s president and CEO on a full-time basis through transition date

* Under terms of transition agreement, Riner subject to non-compete and non-solicitation obligations for 24 months following last day of employment Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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