Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
LNUX > SEC Filings for LNUX > Form 8-K on 22-Jul-2008All Recent SEC Filings

Show all filings for SOURCEFORGE, INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for SOURCEFORGE, INC


22-Jul-2008

Change in Directors or Principal Officers


ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(e) Change of Control and Termination Agreement with Patricia A. Morris

On July 16, 2008 the Compensation Committee of the Board of Directors of SourceForge, Inc. (the "Company") approved the adoption of amended change of control and termination benefits for Patricia A. Morris, the Company's Senior Vice President and Chief Financial Officer, and authorized the Company to enter into an agreement with Ms. Morris to reflect the following benefits:

(A) if Ms. Morris's employment is terminated by the Company at any time for any reason not deemed by the Company to be for "cause," then, in addition to receiving all accrued and then unpaid salary and vacation, Ms. Morris will be entitled to receive: (i) three months of accelerated vesting and a 90 day post-termination exercise period; (ii) compensation equal to six months of her annual base salary; (iii) payment of the quarterly bonus, if any, she would have been paid under the Company's bonus plan for the entire quarter in which such termination occurred; and (iv) six months of reimbursement for COBRA health benefits coverage; and

(B) if, following a "change of control," Ms. Morris's employment is terminated by the Company at any time for any reason not deemed by the Company to be for "cause," or Ms. Morris is subject to "constructive termination", then, in addition to receiving all accrued and then unpaid salary and vacation, Ms. Morris will be entitled to receive: (i) compensation equal to twelve months of her annual base salary; (ii) twelve months of accelerated vesting; (iii) payment of the quarterly bonus, if any, she would have been paid under the Company's bonus plan for the entire quarter in which such termination occurred; and (iv) twelve months of reimbursement for COBRA health benefits coverage.

The awarding of any the above described benefits will be contingent upon Ms. Morris entering into a separation and release of claims agreement prepared by the Company.


  Add LNUX to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for LNUX - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.