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Quotes & Info
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| ARP > SEC Filings for ARP > Form 8-K on 11-Mar-2009 | All Recent SEC Filings |
11-Mar-2009
Change in Directors or Principal Officers, Financial Statements and Exh
(e) Compensatory Arrangements of Certain Officers.
2009 Voluntary Temporary Base Salary Reductions and Waiver of Bonus Opportunity
On March 11, 2009, in connection with American Reprographics Company (the "Company") overall cost reduction initiative, the Company entered into amendments to the Executive Employment Agreements with each of its principal executive officers providing for voluntary temporary reductions of their respective base salaries from the effective date of the amendment through the balance of fiscal year 2009, as follows: (a) Kumarakulasingam Suriyakumar, Chairman, President and Chief Executive Officer of the Company, has agreed to a 50% reduction in base salary; and (b) each of Jonathan R. Mather, Chief Financial Officer, Rahul K. Roy, Chief Technology Officer, and Dilantha Wijesuriya, Senior Vice President - National Operations, has agreed to a 10% reduction in base salary. In addition, under the amendments, each of Messrs. Suriyakumar, Mather, Roy and Wijesuriya have agreed to a waiver of the bonus opportunity for the Company's fiscal year 2009.
The foregoing summary of the amendments to the Executive Employment Agreements is not a complete description of the terms of such amendments and is qualified by reference to the full text of such amendments, which are attached hereto as Exhibit 10.1, 10.2, 10.3 and 10.4 and incorporated by reference herein.
A copy of the press release relating to certain aspects of the Company's overall cost reduction initiative is attached hereto as Exhibit 99.1.
(d) Exhibits.
Exhibit No. Description
10.1 Fourth Amendment to Executive Employment Agreement, dated March
11, 2009, by and between American Reprographics Company and
Kumarakulasingam Suriyakumar
10.2 Second Amendment to Executive Employment Agreement, dated March
11, 2009, by and between American Reprographics Company and
Jonathan R. Mather
10.3 Third Amendment to Executive Employment Agreement, dated March
11, 2009, by and between American Reprographics Company and
Rahul K. Roy
10.4 First Amendment to Executive Employment Agreement, dated March
11, 2009, by and between American Reprographics Company and
Dilantha Wijesuriya
99.1 American Reprographics Company Press Release dated March 11,
2009
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