- Current report filing (8-K)
February 16 2011 - 2:02PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) February 14, 2011
iGATE Corporation
(Exact Name of Registrant as Specified in Its Charter)
Pennsylvania
(State or Other Jurisdiction of Incorporation)
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000-21755
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25-1802235
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(Commission File Number)
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(IRS Employer Identification No.)
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6528 Kaiser Drive, Fremont, CA
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94555
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(Address of Principal Executive Offices)
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(Zip Code)
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(510)
896-3015
(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 (
see
General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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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.
On January 19, 2011, subject to the terms described herein,
the Compensation Committee (the Compensation Committee) of the Board of Directors of iGATE Corporation (the Company) approved (i) an increase to the 2010 annual bonus to the Chief Financial Officer, Mr Sujit Sircar, from
Rs. 2,342,426 to Rs. 4,684,852 and (ii) an increase to the 2010 annual bonus to the Chief Delivery Officer, Mr. Sean Suresh Narayanan (together with Mr. Sircar, the Executives), from Rs. 3,705,034 to Rs. 7,043,272. Since
the Executives are employees of iGATE Global Solutions Limited, these increases require the approval of the shareholders of iGATE Global Solutions Limited, and, as a result, the Compensation Committees approval was made subject to the receipt
of these approvals. The shareholders of iGATE Global Solutions Limited approved the increases to the Executives 2010 annual bonuses on February 14, 2011.
In connection with the increases to the Executives annual bonuses, as described herein, iGATE Global Solutions Limited entered into amendment agreements (the Amendment Agreements) with
the Executives, which amend the Executives existing employment agreements to reflect their increased annual bonus amounts with retroactive effect to January 1, 2010.
This description of the Amendment Agreements is a summary and does not purport to be a complete description and is qualified in its entirety by reference to the Amendment Agreements, which are attached
hereto as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits:
10.1
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Amendment Agreement, effective January 1, 2010, by and between iGATE Global Solutions Limited and Sean Suresh Narayanan.
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10.2
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Amendment Agreement, effective January 1, 2010, by and between iGATE Global Solutions Limited and Sujit Sircar.
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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.
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iGATE CORPORATION
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By:
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/s/ Mukund Srinath
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Name:
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Mukund Srinath
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Title:
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Corporate Secretary
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February 16, 2011
EXHIBIT INDEX
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Exhibit No.
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Description
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10.1
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Amendment Agreement, effective January 1, 2010, by and between iGATE Global Solutions Limited and Sean Suresh Narayanan.
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10.2
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Amendment Agreement, effective January 1, 2010, by and between iGATE Global Solutions Limited and Sujit Sircar.
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