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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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0000709804-07-000027.txt : 20070815
0000709804-07-000027.hdr.sgml : 20070815
20070815143757
ACCESSION NUMBER: 0000709804-07-000027
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20070809
ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
FILED AS OF DATE: 20070815
DATE AS OF CHANGE: 20070815
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: ADAPTEC INC
CENTRAL INDEX KEY: 0000709804
STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576]
IRS NUMBER: 942748530
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0331
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-15071
FILM NUMBER: 071059295
BUSINESS ADDRESS:
STREET 1: 691 S MILPITAS BLVD
STREET 2: M/S25
CITY: MILPITAS
STATE: CA
ZIP: 95035
BUSINESS PHONE: 4089458600
MAIL ADDRESS:
STREET 1: 691 SOUTH MILPITAS BLVD
STREET 2: M/S25
CITY: MILPITAS
STATE: CA
ZIP: 95035
8-K
1
body8k.htm
8-K
August 15, 2007 8K DOC
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):
August 9, 2007
![](logo.jpg)
Adaptec, Inc.
(Exact name of registrant as specified in its charter)
Delaware
|
0-15071
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94-2748530
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(State of other jurisdiction of incorporation)
|
(Commission File Number)
|
(I.R.S. Employer Identification Number)
|
691 S. Milpitas Blvd.
Milpitas, California 95035
(Address of principal executive offices including zip code)
(408) 945-8600
(Registrant's telephone number, including area code)
N/A
(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:
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))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
Termination of Named Executive Officer
On August 9, 2007, Adaptec, Inc. (the "Company") informed Russell Johnson, the Company's Vice President,
Worldwide Sales, that his position will be terminated, effective September 7, 2007. In connection with his termination, the Company
has proposed to Mr. Johnson, by letter dated August 9, 2007, certain severance terms, consistent with Mr. Johnson's Executive
Employment Agreement with the Company, dated as of May 1, 2007, in consideration of signing a general release in favor of the
Company. Mr. Johnson has until September 30, 2007 to accept the proposed terms.
Termination of Executive Officer
In addition, on August 9, 2007, the Company informed Ted Chen, the Company's Vice President, Marketing and General
Manager, Data Protection Solutions Group, that his position will be eliminated, effective August 10, 2007. In connection with his
termination from the Company, the Company and Mr. Chen have entered into a Separation Agreement and General Release, dated as
of August 10, 2007 (the "Chen Separation Agreement"), pursuant to which the Company has agreed to pay to
Mr. Chen (assuming Mr. Chen does not rescind the Chen Separation Agreement), in
consideration of signing a general release in favor of the Company, (1) a lump-sum severance payment equal to nine months of his
base salary, (2) COBRA benefits until May 31, 2008 and (3) outplacement services. The terms of the Chen Separation
Agreement are consistent with Mr. Chen's Executive Employment Agreement with the Company, dated as of May 1,
2007.
2
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.
Adaptec, Inc.
|
|
By: /s/ Christopher G. O'Meara
Christopher G. O'Meara
Vice President and Chief Financial Officer
|
|
August 15, 2007
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