Form 8-K

Date: August 19, 2010

SYMMETRICOM, INC.

/S/ JUSTIN SPENCER

Justin Spencer

Executive Vice President, Chief

Financial Officer and Secretary

-----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, JRBxNJ1noVUPdKQrDRqmG4Dy9/E/2+7HpHYUfyUBLmXuPKpuKQe/LiMNP9AQZPMF 5xJj8FqlfISqgi4H57M65A== 0001193125-10-193108.txt : 20100819 0001193125-10-193108.hdr.sgml : 20100819 20100819160656 ACCESSION NUMBER: 0001193125-10-193108 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100813 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20100819 DATE AS OF CHANGE: 20100819 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: 101028017 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 d8k.htm FORM 8-K 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): August 13, 2010

SYMMETRICOM, INC.

(Exact name of Registrant as Specified in its Charter)

Delaware

000-02287

95-1906306

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

2300 Orchard Parkway

San Jose, California 95131-1017

(Address of Principal Executive Offices)

(408) 433-0910

(Registrant’s telephone number, including area code)

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 (see General Instruction A.2. below):

¨	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

On August 13, 2010, the Board of Directors of Symmetricom, Inc. (the “Company”) approved an executive cash bonus plan for the Company’s fiscal year ending July 3, 2011. Under the plan, if the Company does not achieve at least 80% of a financial goal based on fiscal 2011 operating income, as adjusted for certain items, no cash bonus will be paid to any executive officer. If the Company achieves 120% or more of the adjusted operating income financial goal, then each cash bonus payment will be up to 140% of the executive officer’s specified target bonus payment. The target bonus payment for the Company’s CEO is 100% of his base salary if the Company achieves 100% of the adjusted operating income financial goal and the CEO achieves 100% of his personal goals. The target bonus for the Company’s other executive officers is 50% of their base salaries if the Company achieves 100% of the financial goal and the executive officer achieves 100% of his respective individual goals. All executive officers’ bonuses will be allocated 80% to the achievement of the Company’s adjusted operating income financial goal described above and 20% to the achievement of individual goals. Bonuses will be paid to eligible executives semiannually, with the first-half payment contingent on achievement of at least 90% of the adjusted operating income financial goal for the first half of the fiscal year, not to exceed 30% of the annual target bonus payment. The second-half payment shall be calculated as the annual bonus payment less the first-half bonus payment.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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