AACC Asset Acceptance Capital Corp. (MM)

 

 

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): December 19, 2008

 

 

Asset Acceptance Capital Corp.

(Exact name of Registrant as specified in its charter)

 

 

 

Delaware		000-50552		80-0076779
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

28405 Van Dyke Avenue

Warren, MI 48093

(Address of principal executive offices)

Registrant’s telephone number, including area code: (586) 939-9600

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 140.14a-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))

 

 

 

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Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Item 5.02(e) — Amendment to Employment Agreement — Senior Vice President and Chief Acquisitions Officer

On December 19, 2008, Asset Acceptance, LLC, a wholly owned subsidiary of Asset Acceptance Capital Corp. (the “Company”), and Deborah L. Everly, the Company’s Senior Vice President and Chief Acquisitions Officer, entered into an Amendment No. 1 (the “Everly Amendment”) to Ms. Everly’s Employment Agreement dated October 1, 2007. The amendment is designed to facilitate the employment agreement’s compliance with Section 409A of the Internal Revenue Code (“Section 409A”) and to make some administrative changes.

The amendment to the employment agreement includes, among others, specification of payment dates for amounts that may be due under the employment agreement, modification of the definition of “substantial breach” in order to be compliant with Section 409A, and inclusion of a six-month delay in payment in situations where payments would otherwise not be compliant with Section 409A.

The foregoing does not purport to be a complete description of the amendment to the employment agreement and is qualified in its entirety by reference to the full text of the Everly Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference herein.

 

Item 9.01.

Financial Statements and Exhibits.

The following exhibit is furnished herewith:

 

Exhibit Number		Exhibit Description
10.1		Amendment No. 1 to Employment Agreement, dated December 19, 2008, between Deborah L. Everly and Asset Acceptance, LLC.

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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.

 

December 24, 2008		Asset Acceptance Capital Corp.
		By:		/s/    E.L. Herbert
		Name:		E.L. Herbert
		Title:		Vice President-General Counsel

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EXHIBIT INDEX

 

Exhibit No.		Description
10.1		Amendment No. 1 to Employment Agreement, dated December 19, 2008, between Deborah L. Everly and Asset Acceptance, LLC.