8-K 1 file001.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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): March 31, 2004 Symbol Technologies, Inc. -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-9802 11-2308681 -------- ------ ---------- (State or other (Commission File (IRS Employer Jurisdiction of Number) Identification No.) Incorporation) One Symbol Plaza Holtsville, New York 11742 ------------------------------- ---------- (Address of principal (Zip Code) executive offices) Registrant's telephone number, including area code: (631) 738-2400 Former name or former address, if changed since last report: Not Applicable ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE. On March 31, 2004, Symbol Technologies, Inc. (the "Registrant") entered into an Employment Agreement with William R. Nuti, its President and Chief Executive Officer, effective as of March 31, 2004 (the "Employment Agreement"). The initial term of the Employment Agreement shall terminate on July 31, 2009, and thereafter may be automatically renewed for successive one-year periods, unless otherwise terminated as provided therein. As compensation for his services, Mr. Nuti will receive an annual base salary of US $1,000,000. Mr. Nuti's salary will be reviewed annually but may not be decreased. Mr. Nuti also participates in the Registrant's Executive Bonus Plan. The target amount of his annual bonus is 100% of his base salary; and the maximum annual bonus that he may receive is 200% of his base salary. A copy of the Employment Agreement is attached hereto as Exhibit 10.1 and a more detailed summary of Mr. Nuti's Employment Agreement may be found in the Registrant's Definitive Proxy Statement to be used in connection with the Registrant's 2004 Annual Meeting of Stockholders, filed with the Securities and Exchange Commission on April 1, 2004. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) The following exhibit is included herein: Exhibit 10.1 Employment Agreement, effective as of March 31, 2004, by and between the Registrant and William R. Nuti. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SYMBOL TECHNOLOGIES, INC. Date: April 1, 2004 By: /s/ Peter M. Lieb ----------------------------------- Name: Peter M. Lieb Title: Senior Vice President, General Counsel and Secretary EXHIBIT INDEX Exhibit Description Exhibit 10.1 Employment Agreement, effective as of March 31, 2004, by and between the Registrant and William R. Nuti.