- Current report filing (8-K)
August 24 2010 - 6:01AM
Edgar (US Regulatory)
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
August 23, 2010
(Date of earliest event
reported: August 19, 2010)
GEOKINETICS
INC.
(Exact name of registrant as specified in its charter)
Delaware
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001-33460
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94-1690082
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(State or other jurisdiction of
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(Commission File Number)
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(I.R.S. Employer
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incorporation or organization)
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Identification Number)
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1500 CityWest Blvd., Suite 800
Houston, Texas, 77042
(Address of principal executive offices)
(713) 850-7600
(Registrants 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))
SECTION 5 Corporate Governance and Management
Item 5.02 Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
Effective
August 19, 2010, Geokinetics Inc. (Geokinetics) appointed Ronald D.
Cayon as interim Chief Financial Officer, pending completion of a search for a
permanent replacement.
Prior
to joining Geokinetics, Mr. Cayon, 58, served as the Chief Financial
Officer, Director of International Finance and in various other financial roles
for both private and public companies.
Since August 20, 2007, Mr. Cayon has been a partner with
Tatum, LLC (Tatum), filling various interim Chief Financial Officer
positions. Prior to joining Tatum,
from October 2006 to August 2007, Mr. Cayon was a partner with
MCDRS providing consulting services to General Electric Corporation, Marubeni
Corporation (a Japanese Trading House), Direct Energy, the Overseas Private
Investment Corporation and the Knight Investment group. Mr. Cayon served as Senior Vice
President of TRC Companies, Inc., a NYSE company, from August 2004 to
October 2006. Before his consulting
career, Mr. Cayon served as the Chief Financial Officer of Power
Technologies Inc., Stone & Webster Management and Consultants and BVSG
Solutions Group. The majority Mr. Cayons
professional career has been spent in the engineering and construction industry
with Stone and Webster, Inc., a NYSE company where he has held a number of
financial titles, including Managing Director International Finance, where he
was responsible for structuring the financing of large international capital
expenditure projects in Russia, Thailand, Brazil and China. His project in Russia was the first
structured financing project in Russia and was presented at Harvard University
and at the Forbes conference. Mr. Cayon
has an active Certified Public Accountant license in the State of Texas, and
has a masters degree in International Business. There is no family
relationship between Mr. Cayon and any of the executive officers or
directors of Geokinetics.
The
services of Mr. Cayon are being provided to Geokinetics pursuant to an
agreement with Tatum which requires payment at a monthly rate of $42,000 and
reimbursement of certain out-of-pocket expenses. The agreement is cancellable
at any time by either party; provided, however, that the parties will endeavor
to provide as much notice as possible prior to termination (preferably two
business weeks). Additionally,
Geokinetics may pay a discretionary bonus under the agreement. The terms of the agreement provide additional
compensation to Tatum upon Mr. Cayon becoming a direct employee of
Geokinetics.
As
previously announced, Scott A. McCurdy, Geokinetics Senior Vice President and
Chief Financial Officer, resigned from his position effective August 18,
2010.
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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.
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GEOKINETICS INC.
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August 23,
2010
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By:
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/s/
William L. Moll, Jr.
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William L. Moll, Jr., Vice President, General
Counsel and Corporate Secretary
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