-----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, LJn6ahXkNjvYO7UUsI3J25HSMbWFPYT20kgvslwQh5/jE7H7Hz5E+cXZUeHE6aOG EFXTOWPZLRMrtTi3ZTA5NA== 0001140361-06-011495.txt : 20060810 0001140361-06-011495.hdr.sgml : 20060810 20060810161239 ACCESSION NUMBER: 0001140361-06-011495 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060808 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060810 DATE AS OF CHANGE: 20060810 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONCURRENT COMPUTER CORP/DE CENTRAL INDEX KEY: 0000749038 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPUTERS [3571] IRS NUMBER: 042735766 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13150 FILM NUMBER: 061021544 BUSINESS ADDRESS: STREET 1: 4375 RIVER GREEN PARKWAY CITY: DULUTH STATE: GA ZIP: 30097 BUSINESS PHONE: 6782584000 MAIL ADDRESS: STREET 1: 4375 RIVER GREEN PARKWAY CITY: DULUTH STATE: GA ZIP: 30097 FORMER COMPANY: FORMER CONFORMED NAME: MASSACHUSETTS COMPUTER CORP DATE OF NAME CHANGE: 19881018 8-K 1 form8-k.txt CONCURRENT COMPUTER CORPORATION 8-K 8-8-2006 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 8, 2006 Concurrent Computer Corporation ------------------------------- (Exact Name of Registrant as Specified in its Charter) Delaware 0-13150 04-2735766 -------- ------- ---------- (State or Other (Commission (IRS Employer Jurisdiction File Number) Identification Number) of Incorporation) 4375 River Green Parkway, Suite 100, Duluth, Georgia 30096 ---------------------------------------------------- ----- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (678) 258-4000 -------------- 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: [ ] 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 August 8, 2006 the Compensation Committee of the Board of Directors revised the employment agreement ("Agreement") for T. Gary Trimm (the "Employee"), Chief Executive Officer, which has previously been filed with the Securities and Exchange Commission. Under the amended Agreement, if the Employee were terminated, during the period beginning with the Employee's termination and continuing through which time the Employee reaches age 65, Concurrent Computer Corporation ("the Company") will use its reasonable best efforts to continue the Employee's eligibility under its group life insurance, hospitalization, medical and dental plans. To the extent the Employee is not eligible under the terms of one or more of such plans and programs, the Company will provide the Employee with the economic equivalent for the period through the employee reaching age 65. Additionally, the Compensation Committee lifted the salary freeze in place for fiscal 2006 on the salaries of executive officers and approved a 3.5% salary increase. The new salaries for executive officers are disclosed in the table below. Mr. Wilson's salary was increased by 14.3% in conjunction with his experience and expanded responsibilities.
ANNUAL EXECUTIVE OFFICER SALARY ----------------- -------- T. Gary Trimm $362,250 Warren Neuburger 300,000 Kirk L. Somers 227,700 Gregory S. Wilson 200,000
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits THE FOLLOWING EXHIBIT IS FILED HEREWITH: EXHIBIT NO. DESCRIPTION - ----------- ----------- 99.1 AMENDMENT TO EMPLOYMENT AGREEMENT 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. CONCURRENT COMPUTER CORPORATION Date: August 10, 2006 By: /s/ Gregory S. Wilson ------------------------------------------- Gregory S. Wilson Chief Financial Officer EXHIBIT INDEX EXHIBIT NUMBER AND DESCRIPTION - ------------------------------ 99.1 Amendment to Employment Agreement EX-99.1 2 ex99_1.txt EXHIBIT 99.1 EXHIBIT 99.1 AMENDMENT TO EMPLOYMENT AGREEMENT --------------------------------- THIS AMENDMENT (the "Amendment") to that certain Employment Agreement dated as of June 24, 2004 (the "Agreement") is made and entered into as of the 8th day of August, 2006 by and between Concurrent Computer Corporation (the "Company") and T. Gary Trimm (the "Employee"). WHEREAS, the Company, through its Board of Directors, and the Employee, desire to amend the terms and conditions set forth in the Agreement to define the payments to be made to the employee upon termination of employment; NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the parties agree as follows: 1. Amendment --------- a. The entire third paragraph of Section 5.4 regarding benefit coverage following termination is replaced with the following paragraph: During the period beginning with the Employee's termination and continuing through which time the employee reaches age 65, the Company will use its reasonable best efforts to continue the Employee's eligibility under its group life insurance, hospitalization, medical and dental plans ("Benefits"). To the extent Employee is not eligible under the terms of one or more of such plans and programs, the Company will provide the Employee with the Economic Equivalent for the period through the employee reaching age 65. For the purpose of this paragraph, "Economic Equivalent" shall mean the amount the Company would have paid for such coverage for each employee covered if the Company could purchase such coverage or add the Employee to the Company's plans. In order to obtain the Benefits, the Employee will have to pay the amount that would be the Employee's responsibility if he was still employed. The amount paid to the Employee as the Economic Equivalent, less the amount of the premium payment which is the Employee's responsibility in accordance with the Company benefit plan, will be "grossed-up", if taxable (that is, the amount necessary to make the Employee whole after taking into account (i) the cost of the benefit and (ii) additional income taxes, if any, incurred by the Employee on amounts paid to him pursuant to this paragraph). Should the Employee find employment with another employer ("New Employer") that typically provides Benefits to its employees, the Company will cease providing Benefits or the Economic Equivalent. If the Employee ceases employment with the New Employer and has no Benefits or Economic Equivalent from the New Employer, the Employee must immediately notify the Company and the Company shall again provide Benefits or the Economic Equivalent until the Employee reaches age 65. 2. Miscellaneous ------------- a. This Amendment shall be construed in accordance with the laws of the State of Georgia. b. Except as amended hereby, the terms and conditions of the Agreement shall remain in effect. IN WITNESS WHEREOF, the Company and the Employee have caused this Amendment to be executed as of the date first above written. CONCURRENT COMPUTER CORPORATION EMPLOYEE By: By: ------------------------------- ------------------------------- Charles Blackmon Director Chairman, Compensation Committee -----END PRIVACY-ENHANCED MESSAGE-----