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| RSH > SEC Filings for RSH > Form 8-K on 22-Jun-2009 | All Recent SEC Filings |
22-Jun-2009
Entry into a Material Definitive Agreement, Change in Directors or Principal Offi
See Item 5.02 for a discussion of the Offer Letter, entered into between RadioShack Corporation (the "Company") and Ms. Sharon Stufflebeme, the Company's newly appointed Senior Vice President - Chief Information Officer.
On June 22, 2009, the Company announced that it had appointed Ms. Sharon Stufflebeme to the position of Senior Vice President - Chief Information Officer. Ms. Stufflebeme will report to Chairman and Chief Executive Officer Julian C. Day.
Before joining RadioShack, Ms. Stufflebeme served as Senior Vice President - Chief Information Officer for 7-Eleven, Inc., where she began working in 2004. Before working for 7-Eleven, Inc., she worked for Anderson Consulting, Hitachi Consulting, and Michaels Stores.
In connection with Ms. Stufflebeme's appointment as Senior Vice President - Chief Information Officer, the following sets forth Ms. Stufflebeme's base salary, sign-on bonus, and 2009 annual bonus.
Base Annual Salary: $350,000
Sign-on Bonus: $25,000
2009 Annual Bonus: $245,000
Ms. Stufflebeme's annual target bonus is equal to 70% of her base salary and payment is subject to the Company achieving certain performance metrics. Ms. Stufflebeme's annual bonus for 2009 will be prorated for the period of time she was employed by the Company, but is guaranteed to be no less than $75,000.
Ms. Stufflebeme will participate in the Company's Long Term Incentive Compensation Plan covering calendar years 2008, 2009 and 2010, payable in 2011. Under this three year plan, Ms. Stufflebeme's target bonus is equal to 70% of her base salary, or $245,000. In addition, Ms. Stufflebeme will participate in the Company's Long Term Incentive Compensation Plan covering calendar years 2009, 2010 and 2011, payable in 2012. Under this three year plan, Ms. Stufflebeme's target bonus is also equal to 70% of her base salary. Payments made pursuant to the three year plans referenced above are subject to the Company achieving certain performance metrics. Ms. Stufflebeme's target bonuses under these Long Term Incentive Compensation Plans will also be prorated for the period of time she was employed by the Company.
Ms. Stufflebeme will also be eligible to participate in the Company's health and welfare plans, 401(k) plan, Officers' Severance Program, and Executive Life and Long Term Disability benefits.
(d) Exhibits
The exhibits listed in the accompanying Index to Exhibits are furnished as part of this current report.
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