- Current report filing (8-K)
August 31 2009 - 6:02AM
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 20, 2009
(Date of earliest
event reported)
Forgent
Networks, Inc.
(Exact name of
registrant as specified in its charter)
TX
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0-20008
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74-2415696
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(State or other
jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification Number)
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108
Wild Basin Rd
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78746
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(Address of
principal executive
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(Zip Code)
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offices)
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512-437-2700
(Registrants
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:
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))
Item 5.02
Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers
.
Nancy L. Harris Retention
Agreement
On August 20, 2009,
Forgent Networks, Inc. (the Company) entered into a Retention Agreement with
Nancy L. Harris, the Companys CEO and President. The Company believes that in light of
potential changes to the Companys Executive Management and/or Board of
Directors, it is critical for the Company and in the best interest of the
Companys stockholders for Ms. Harris to remain with the Company through any
such transition. Pursuant to the terms
and conditions of the Retention Agreement, the Company will continue to engage
Ms. Harris as CEO and President of the Company through December 31, 2009 (the
Retention Period). Ms. Harris will
continue to receive her current salary and benefits through the Retention
Period and will receive a single lump sum cash payment equal to $107,500 if she
continues to be employed by the Company through the Retention Period or if she
is terminated by the Company without cause prior to the end of the Retention
Period. The Retention Agreement
automatically terminates any Parachute Agreements between the Company and Ms.
Harris.
The foregoing description
of the Retention Agreement does not purport to be complete and is qualified in
its entirety by reference to the full text of the Retention Agreement, which is
filed as Exhibit 99.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
Richard N. Snyder Retention
Agreement
On August 26, 2009, the
Company entered into a Retention Agreement with Richard N. Snyder, the
Companys Executive Chairman. The Company believes it is in the best interest
of the Companys stockholders for Mr. Snyder to remain with the Company through
the annual meeting of stockholders for fiscal 2008 to be held on August 28,
2009 (the Annual Meeting). Pursuant to the terms and conditions of the
Retention Agreement, Mr. Snyder will receive a single lump sum cash payment
equal to $95,000 if he continues to be employed by the Company through the
Annual Meeting. The Retention Agreement automatically terminates any Parachute
Agreements between the Company and Mr. Snyder.
The foregoing description
of the Retention Agreement does not purport to be complete and is qualified in
its entirety by reference to the full text of the Retention Agreement, which is
filed as Exhibit 99.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
Item
9.01. Financial Statements and Exhibits
(d) Exhibits
99.1 Nancy L. Harris
Retention Agreement
99.2 Richard N. Snyder
Retention Agreement
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.
Dated: August 28,
2009
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FORGENT
NETWORKS, INC.
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By:
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/s/ Jay C. Peterson
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Jay C. Peterson
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Chief
Financial Officer
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2
Exhibit Index
Exhibit No.
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Description
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99.1
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Nancy L. Harris
Retention Agreement
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99.2
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Richard N. Snyder
Retention Agreement
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3
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