Aurora Oil & Gas Corp - Current report filing (8-K)
October 29 2007 - 4:39PM
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 (Date of earliest event reported):
|
October
24, 2007
|
AURORA
OIL & GAS CORPORATION
|
(Exact
name of registrant as specified in its
charter)
|
UTAH
|
000-25170
|
87-0306609
|
(State
or other jurisdiction
of
incorporation)
|
(Commission
File
Number)
|
(IRS
Employer
Identification
No.)
|
4110
Copper Ridge Drive, Suite 100, Traverse City, MI
|
49684
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant’s
telephone number, including area code:
|
(231)
941-0073
|
|
(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):
o
|
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
Compensatory
Arrangements of Certain Officers.
(e)
Executive
Compensation Arrangements
On
September 19, 2007, Aurora Oil & Gas Corporation (the “Company”) announced
that it had retained an investment banker to assist the Board of Directors
in
evaluating strategic alternatives for the Company. These alternatives, among
other things, may include revisions to the Company’s strategic plan, asset
divestitures, operating partnerships, identifying additional capital sources,
or
a sale, merger, or other business combination of the Company. The Company
recognizes that the possibility of a change in control may exist and it is
in
its best interest to assure that the Company maintains dedicated key employees
to provide significant services through the evaluation process. The following
retention arrangements have been approved for certain key officers and
employees.
Retention
Bonus
The
Board
of Directors of the Company has approved a retention bonus arrangement to
encourage certain key officers and employees to remain with the Company through
the completion of the Company’s review of potential strategic alternatives. The
Board of Directors recognizes that certain key officers and employees will
have
increased responsibilities and duties during the evaluation of strategic
alternatives and will contribute significantly to the process. The aggregate
retention bonus consists of four payments over an 8-month period beginning
in
late October 2007 through late April 2008. The key officers and employees must
remain continuously employed with the Company as well as remain in good standing
on the scheduled payment dates. As of October 24, 2007, certain officers of
the
Company accepted this arrangement and their potential retention bonuses are
estimated as follows: (i) Ronald Huff (President and Chief Financial Officer)
$100,000; (ii) John C. Hunter (Vice President) $80,000; (iii) John V. Miller
(Vice President) $40,000; and (iv) Lorraine M. King (Former Chief Financial
Officer) $25,000.
Item
9.01
Financial
Statements and Exhibits.
|
(d)
|
Exhibits
|
|
|
|
|
99.1
|
Form
Letter of Retention Bonus
Agreement.
|
SIGNATURE
According
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.
|
AURORA
OIL & GAS CORPORATION
|
|
|
|
|
Date:
October 29, 2007
|
/s/
Ronald E. Huff
|
|
By:
Ronald E. Huff
|
|
Its:
President and Chief Financial
Officer
|
Aurora Oil & Gas Corp. (AMEX:AOG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Aurora Oil & Gas Corp. (AMEX:AOG)
Historical Stock Chart
From Jul 2023 to Jul 2024