8-K 1 form8-k.txt CONCURRENT COMPUTER CORP 8-K 3-8-2007 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 8, 2007 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 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS As disclosed on a Current Report on Form 8-K filed earlier today, the Board of Directors (the "Board") of Concurrent Computer Corporation (the "Company") approved the hiring of Emory O. Berry, 41, of TechCFO LLC, a financial management staffing firm ("TechCFO"), as the Company's Chief Financial Officer, effective March 9, 2007. The Compensation Committee of the Board authorized a new consulting services agreement with Mr. Berry and TechCFO. Pursuant to the agreement, the Company is obligated to pay a monthly fee of $30,000 to TechCFO and grant Mr. Berry 100,000 options at the grant date closing price of $1.52 per share with a four year vesting period. In addition, if the agreement is terminated without cause within twelve months, or between twelve and twenty-four months, TechCFO will be paid a fee of $180,000, or $90,000, respectively. If the agreement is terminated without cause after two years, no termination fee will be paid. In addition, in connection with the engagement, the Company has entered into its standard officer indemnification agreement with Mr. Berry. The indemnification agreement provides a contractual right to indemnification for certain expenses incurred due to actions, suits or other proceedings brought against Mr. Berry in his capacity as an officer or agent of the Company or any of the Company's subsidiaries. The consulting services agreement and the indemnification agreement are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated herein by reference in their entirety. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits. Exhibit Number Description 99.1 Consulting Services Agreement among the Company, TechCFO and Emory Berry, dated March 8, 2007 99.2 Indemnification Agreement between the Company and Emory Berry, dated March 8, 2007 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: March 9, 2007 By: /s/ Kirk L. Somers ----------------------------------- Kirk L. Somers General Counsel EXHIBIT INDEX Exhibit Number Description -------------- ----------- 99.1 Consulting Services Agreement among the Company, TechCFO and Emory Berry, dated March 9, 2007 99.2 Indemnification Agreement between the Company and Emory Berry, dated March 9, 2007