-----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, TqAqOw2z7I6EWTzxf55VRLTpGDBApO6BjiECY9LVicZ+TlPlk/YVNDXf3m8Gu+OE QcBsCUMD3K/MqETiiKdkbg== 0001193125-06-118014.txt : 20060523 0001193125-06-118014.hdr.sgml : 20060523 20060523161002 ACCESSION NUMBER: 0001193125-06-118014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060517 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement FILED AS OF DATE: 20060523 DATE AS OF CHANGE: 20060523 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GLOBAL POWER EQUIPMENT GROUP INC/ CENTRAL INDEX KEY: 0001136294 STANDARD INDUSTRIAL CLASSIFICATION: FABRICATED PLATE WORK (BOILER SHOPS) [3443] IRS NUMBER: 731541378 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16501 FILM NUMBER: 06861568 BUSINESS ADDRESS: STREET 1: 6120 SOUTH YALE STREET 2: SUITE 1480 CITY: TULSA STATE: OK ZIP: 74136 BUSINESS PHONE: 9184880828 MAIL ADDRESS: STREET 1: 6120 SOUTH YALE STREET 2: SUITE 1480 CITY: TULSA STATE: OK ZIP: 74136 FORMER COMPANY: FORMER CONFORMED NAME: GEEG INC DATE OF NAME CHANGE: 20010306 8-K 1 d8k.htm FORM 8-K Form 8-K

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 17, 2006

 

GLOBAL POWER EQUIPMENT GROUP INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware

(State or Other Jurisdiction of Incorporation)

 

001-16501   73-1541378
(Commission File Number)   (IRS Employer Identification No.)
6120 S. Yale, Suite 1480, Tulsa, Oklahoma   74136
(Address of Principal Executive Offices)   (Zip Code)

(918) 488-0828

(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):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Item 1.01. Entry into a Material Definitive Agreement.

On May 17, 2006, Global Power Equipment Group Inc. (the “Company”) entered into a Separation Agreement and Release (the “Separation Agreement”) with Al Brousseau, former President and Chief Executive Officer of the Company, in connection with his resignation from the Company effective May 15, 2006. Under the Separation Agreement, the Company will pay Mr. Brousseau on or before May 27, 2006, a separation payment of $360,000, less applicable withholding taxes, plus a sum equal to the Company’s estimate of COBRA expense for six months, less applicable withholding taxes, and further agreed to pay all accrued, but unused, vacation time. The Separation Agreement also provided for the accelerated vesting of 6,667 shares of restricted stock that had previously been granted to Mr. Brousseau under the Company’s 2004 Stock Incentive Plan. Under the Separation Agreement, Mr. Brousseau has agreed not to compete with the businesses of the Company for a one-year period commencing May 15, 2006 and has given the Company a release containing customary terms and conditions. The Separation Agreement further provided for the termination of the Employment Agreement dated December 16, 2004, as amended, between the Company and Mr. Brousseau, effective May 15, 2006, except for certain provisions relating to work product, confidential information, non-competition, non-solicitation and Company remedies for any breach of such covenants.

Item 1.02. Termination of a Material Definitive Agreement.

The discussion of the Employment Agreement in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 1.02.

SIGNATURES

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.

 

  GLOBAL POWER EQUIPMENT GROUP INC.
Date: May 23, 2006   By:  

/s/ Candice L. Cheeseman

    Candice L. Cheeseman
    General Counsel and Secretary

 

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