-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Us7XOPNAaPVtYg4TW4jp4hgIBB7G2ixZHBtSZeCzG2dH9vDQvWZoxfqxbca+Su8e fQ4z+Ojn1y1lQbWW++3dHQ== 0000950144-06-005100.txt : 20060516 0000950144-06-005100.hdr.sgml : 20060516 20060516134242 ACCESSION NUMBER: 0000950144-06-005100 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060510 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20060516 DATE AS OF CHANGE: 20060516 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST ACCEPTANCE CORP /DE/ CENTRAL INDEX KEY: 0001017907 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 751328153 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12117 FILM NUMBER: 06845103 BUSINESS ADDRESS: STREET 1: 3813 GREEN HILLS VILLAGE DRIVE CITY: NASHVILLE STATE: TN ZIP: 37215 BUSINESS PHONE: 615-844-2800 MAIL ADDRESS: STREET 1: 3813 GREEN HILLS VILLAGE DRIVE CITY: NASHVILLE STATE: TN ZIP: 37215 FORMER COMPANY: FORMER CONFORMED NAME: LIBERTE INVESTORS INC DATE OF NAME CHANGE: 19960701 8-K 1 g01635e8vk.htm FIRST ACCEPTANCE CORPORATION FIRST ACCEPTANCE CORPORATION
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): May 16, 2006 (May 10, 2006)
FIRST ACCEPTANCE CORPORATION
 
(Exact Name of Registrant as Specified in Charter)
         
Delaware   1-6802   75-1328153
         
(State or Other Jurisdiction
of Incorporation) 		  (Commission File
Number) 		  (I.R.S. Employer
Identification No.)
     
3813 Green Hills Village Drive
Nashville, Tennessee 		  37215
     
(Address of Principal Executive Offices)   (Zip Code)
(615) 844-2800
 
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
 
(Former Name or Former Address, if Changed Since Last Report)
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

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Item 1.01 — Entry into a Material Definitive Agreement
SIGNATURE

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Item 1.01 — Entry into a Material Definitive Agreement.
Non-Employee Director Compensation
On May 10, 2006, the Board of Directors of First Acceptance Corporation, upon the recommendation of the Compensation Committee of the Board of Directors, approved revised terms of compensation to be paid to the non-employee directors of the Company. Each non-employee director will receive an annual retainer of $20,000, payable in equal, quarterly installments in arrears. The Chairman of the Audit Committee of the Board of Directors will receive an additional annual retainer of $5,000, payable in equal, quarterly installments in arrears. Non-employee directors will also receive a fee of $2,000 for each Board of Directors meeting attended and $1,000 for each board committee meeting attended. In addition, non-employee directors other than Gerald J. Ford and Donald J. Edwards will receive an award pursuant to the Company’s 2002 Long Term Incentive Plan of 1,000 shares of restricted stock on the date of each annual meeting of the Company’s stockholders. The restricted stock will be subject to forfeiture if the director ceases to serve as a director of the Company during the period of six months following the date of the award, subject to certain exceptions.

 

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SIGNATURE
     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.
             
    FIRST ACCEPTANCE CORPORATION  
 
            
 
  By:   /s/ Stephen J. Harrison    
 
           
 
      Stephen J. Harrison    
 
      President and Chief Executive Officer    
Date: May 16, 2006

 

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