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ACCL > SEC Filings for ACCL > Form 8-K on 20-Jul-2009All Recent SEC Filings

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Form 8-K for ACCELRYS, INC.


20-Jul-2009

Change in Directors or Principal Officers, Financial Statements and Exhibits


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

On July 15, 2009, Accelrys, Inc. (the "Company") entered into a letter agreement (the "Agreement") with Todd Johnson, our former interim President and Chief Executive Officer, pursuant to which Mr. Johnson will serve as the Company's Senior Vice President of Marketing and Operations reporting to the Company's President and Chief Executive Officer. Mr. Johnson will be employed on a part-time basis and will receive an annual base salary of $111,000. He will also be eligible for a bonus at a targeted rate of 40% pursuant to the Company's Fiscal Year 2010 Management Incentive Plan, based upon the achievement of individual and corporate objectives as and when determined by the Company's Board of Directors and pro-rated for the number of months in fiscal year 2010 during which Mr. Johnson is employed pursuant to the Agreement.

Mr. Johnson originally joined the Company in January 2009, and served as its Interim President and Chief Executive Officer until June 15, 2009. Since the appointment of Max Carnecchia as our new President and Chief Executive Officer on that date, Mr. Johnson has been serving as an advisor to Mr. Carnecchia, as requested by Mr. Carnecchia.

The foregoing description is intended only as a summary of the material terms of the Agreement and is qualified in its entirety by reference to the full Agreement, a copy of which is attached as Exhibit 10.1 of this Form 8-K and which is incorporated by reference herein.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.    Description
   10.1        Letter Agreement, dated July 15, 2009, between Todd Johnson and
               Accelrys, Inc.


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