-----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, A6DSRyZ/67ZlY58cmm1/r7vPTMEK9Knt67rS9frMq6So3+nw9c3GAgm7EXxSGmY2 bXiESK/HTrdV728lx7MbYQ== 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

Adaptec, Inc.
(Exact name of registrant as specified in its charter)

Delaware
0-15071
94-2748530
 (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             GRAPHIC 3 logo.jpg LOGO begin 644 logo.jpg M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$" M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`P,#_\``$0@`'0"0`P$1``(1`0,1`?_$`)```0$!`0$!`0`````` M``````D("@<&!0L!``,!`0`````````````````!`@,$$```!0(#"`$"!`,% M"0`````"`P0%!@$'$0@)`!(3%!46%Q@*(2(C)"49,28:43)$-B=!8:&Q0F)% M-U@1``("`@(!!`,``P$````````!$0(A`S$2(D%A@3)1<1.AL4,$_]H`#`,! M``(1`Q$`/P#9)G0U#,H>G_#V^89I;PLEO^O44TB,13IUTDN#-3D=*(WC:5%OH'%W]G+BLT5O:-I3K5;I/F M!02\E&L!_')"2,L`:@J$P6-<#'JR:TM=34DQA^6)I=.SJC;W-CS3Q5$J.`2< M^O5GF-8UMX1"I02A:1&;@R![$072N(N71GCPI]`UV6/1C_CL_`^V77,Q87-I M;!GO+ERNE%+MVW>QG)TTCBJZIX4;BEW.<97UL4EIGB-OZ'B!XZ!P3IEA-!AJ M,NE!!K4(::RQH]Y0M:XZJ,@024HAE$CK@&M:4V4Y]CH59U0EY0;R\G&M)DNSK6WO] M>:"*[CVOLYEG0LBV[%U+]1EBMO"&@3ZF<5J9`B=Z2Q[Z@Y)D3=0P\F@`B#S2 M8`=\U06"K,+4M5P^6&)=+Y;>G]#IFICMN[2YC[QQI"M,2'S]DCL0A[&X%%&" M!5?'FF;RQGDZ]$8$-!%U5HF\8Z5_NTI]=C!:TW&*T_\`53R;:E$>>7#+?/U8 MYC%4I"V:VBGC8&)W4B2)2;1.0ZKHV8K6IW:/FJJT*HYM:I>WA-$$L9P#14!L M$6K:OV*^OI?JSN6:UTIO3?JX<;M=:^&)`K)#+Y2MY1O24-,"2D1IBBP'+G5V M<5(PDI$20H]8K/$$LDL8Q4#4$DWA-R27E/IZ8>%1%A6`0'"#AO%@K7"A@T6F[7H6C8//=935DE MC+-,G5Y%Z5ZM^T)CY?9:<&A@-T(`:L6A2%R5VC)SD?1=&$QYM%!;[&CGD)ZT MLI"IJ0&I8JW5I(RO2U7DPXU/O!KGZMSW#`:82DH,H"]Z.&<>+?/-,VSY.I1JU^X_&L9H2Y`<@^ MF;K6IS`B`H0H9*])3SBQ4P,*+$&O\=A<#VKM=(/31>TVAZOV;RZ M9V8&YTU!!((T!N]?B6(',L^YMSY7.I$K2MC,GD3J0XT;5/=M+:6G@<@. MA]'A9$4[:*2RN92)M)ZT%M"N<^2;V]"F9G>)$\RM>2XRZ#('U[-->I`K7.B@"AQ4" M$``S!!+I]H<*?389>MNU,\R6E\GP8BL\%AS08;X,@]A1@K6F.`@OES!!KA_" MOUV+$Z/K\CPQ+XRF03,;D2LM-[>5N39O,+X$BED9K<.6VWC\ MB6#DD%DA[FUJ8JO>W`SCIV_D5))(_P`N:"H0AJW'!G_6ZMG*`$^/-F(S%&2+\O5YC,P8!(RUH0!,,:E MZ@NM=T0=U(TVI6IV1QF[UHX3?[Y"ER[&W+0K7.W=WM3V46\F[H)M:97,%U?(K@%I].Z%Y==,O M*8Q/=OLO[\5,,XUVFM9*'R3NUQKA/#UX^A8I.]OBM4XNJ"'M\(6&(TAAE4Y1 MIB<804&06*@V+5-K.ULL^;<#*?H^:8%BLLT:U!+5Y@,U^:S-)9!'?"1EV+G-MNK?W99UT4;[H&L".X3W:-[7HD4TMQED+F3]I2DYCAQ2)&@$;0?)B6+*@W:G#V;,]* M23LQO,M7Q9M/:/9=(S'V\RG@+:S'QT-47)!G@BN83*5="Q< M@B%H+KA=H&_2VXTDALMN!:,]>46]PVX4=:8`YM28Z51`\]K9:R4*-TIOH^Q]I=E#"[M"@P@YP;*T4$8E'A&`?,HJC6RG5\B09Q]:^Z>JW MI6YOX8]93&ZUC39DC+8_W-N^QW05/\0/E\DOQ#6Z*1*-Q)RAB%T(62.CIGE=R)9E7[+JIR\PXRZ6:2#V_)7W!!/#[A MAC+-98F82E`8"(1&C8P-4C.JV$5J%0)2I3*?J&A6`F_K\DZJ];NO.!+K;Z>$ MQU$/C&Y6XM:)$4Z7TLG+[L7DM2PF'DI:S12UW=N\QRN`$+%)I25(X2B,/!]4 M`C1!*$YI4H#!`+&,83E$.W3+77$M=<#V83LG:DX7%K<6P81')@'$C)&([C)8P:7UUOY M5Y.):Z5V)G?7/L\WHN';$VRTNNKERRRSYRM2LD094Y05-)K3M+HR,CP^`9X^ M!2]A8CTQRPJB0GE5!HB*[PBJBJ/D>KZ1[EOKFUC M&H%="//K78FR*R3R:$RV4)52=1>F]<@;G-F3+8T:L`4>^,42ZVL<(*HL-31I0J!FF&'8MZ MK3XN$RA-+J\=PM3#.!&K7V_TJ-+6+V.8)4CE-[I^ARA&.15I;7IG`2ZC.7,5 MR@&F":H5BJL&F"F(/W!-^Q-UU6;.?V5U\K'39N2_P`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`U\]S/#_Q?$Q^['9"0NW>A)^S>I]9_/]-[>X7);WV/&8,AGRN.C?N)6\[?Y/H/I=:?H?(8Q/I+EV\3^R/C_`+D[*[%CW`Z9WW^F M]$[HYK@_3NM\47.=U>"?Y'ZMS&]S?/?C<3>XWW M8['[@TK_`%CQF!UYS7/ M?J&.'&^NP0YG/)4R_D>16=3Y7IO*J.H<_P`'D>1X(^;YSF/P.5X&]Q-_[-S' M'Z8[`C+W?[^E+\P/'E[T;\E]5'W!V/W/VUU?CUYGK7AO_3CFN8QYCF/KO8\3 M_;L&B_KZ=H'SRC>HGA..>D7@SP+B/H'KYVAV'SG!(YO?[-_(]=W.'S?,?G=[ *#C?=L$.9SR?_V3\_ ` end -----END PRIVACY-ENHANCED MESSAGE-----