-----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, FityXG2WLVcGcnPzfQDnvyd0UBHq3UBCSzMbOCyYi2cfRF5Im49QRvltP3kEDb3l MUZ9pw45nJ8LWzft7bkfqQ== 0001181431-09-024890.txt : 20090514 0001181431-09-024890.hdr.sgml : 20090514 20090514161651 ACCESSION NUMBER: 0001181431-09-024890 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090508 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20090514 DATE AS OF CHANGE: 20090514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SYMMETRICOM INC CENTRAL INDEX KEY: 0000082628 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 951906306 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-02287 FILM NUMBER: 09826856 BUSINESS ADDRESS: STREET 1: 2300 ORCHARD PARKWAY CITY: SAN JOSE STATE: CA ZIP: 95131-1017 BUSINESS PHONE: 408-433-0910 MAIL ADDRESS: STREET 1: 2300 ORCHARD PARKWAY CITY: SAN JOSE STATE: CA ZIP: 95131-1017 FORMER COMPANY: FORMER CONFORMED NAME: SILICON GENERAL INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: REDCOR CORP DATE OF NAME CHANGE: 19820720 8-K 1 rrd242576.htm Prepared By R.R. Donnelley Financial -- 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):  05/08/2009
 
SYMMETRICOM, INC.
(Exact name of registrant as specified in its charter)
 
Commission File Number:  000-02287
 
Delaware
  
95-1906306
(State or other jurisdiction of
  
(IRS Employer
incorporation)
  
Identification No.)
 
2300 Orchard Parkway, San Jose, California 95131-1017
(Address of principal executive offices, including zip code)
 
(408) 433-0910
(Registrant’s telephone number, including area code)
 
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
 
Executive Cash Bonus Plan

On May 8, 2009, the Board of Directors of the Company approved a cash bonus plan for the Company's fiscal year ending June 27, 2010. The Company's CEO, a position for which the Company is currently conducting a search, will be eligible to receive a bonus under the plan up to 112.5% of his or her base salary if the Company achieves 125% of a financial goal based upon fiscal 2010 operating income, as adjusted for certain items. Other executive officers of the Company will be eligible to receive bonuses up to 75% of their base salaries if the Company achieves 125% of a financial goal based on 2010 operating income, as adjusted for certain items. Bonus payments for all executive officers are based on an allocation of 80% to the Company's achievement of the adjusted operating income financial goal and 20% to the achievement of individual goals. Payments will be made to eligible executives within sixty days of the end of fiscal 2010 provided they remain employees at that time.

 

 

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.
 
      
 
SYMMETRICOM, INC.
 
 
Date: May 14, 2009
     
By:
 
/s/    Justin Spencer
               
Justin Spencer
               
Executive Vice President, Chief Financial Officer and Secretary
 
 
 -----END PRIVACY-ENHANCED MESSAGE-----