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| TONE > SEC Filings for TONE > Form 8-K on 23-Jul-2009 | All Recent SEC Filings |
23-Jul-2009
Change in Directors or Principal Officers, Amendments to Articles of Inc. or Bylaws;
On July 22, 2009, TierOne Corporation (the "Company") expanded the size of its board of directors and appointed James E. McClurg, Ph.D. and James W. Strand to serve in the newly created board positions as independent directors. Messrs. McClurg and Strand were also appointed as directors of TierOne Bank (the "Bank"). The Bank is a wholly-owned subsidiary of the Company.
Dr. McClurg will serve on the Company's board of directors for a term expiring at the Company's 2011 annual meeting. Mr. Strand will serve on the Company's board of directors for a term expiring at the Company's 2012 annual meeting. Committee appointments for Messrs. McClurg and Strand have not yet been determined. There was no arrangement or undertaking between Dr. McClurg or Mr. Strand and any other person pursuant to which either of them was elected as a director.
A copy of the press release announcing the appointment of Messrs. McClurg and Strand to the board of directors of the Company and the Bank is attached hereto as Exhibit 99.1and is incorporated into this Current Report on Form 8-K by reference.
The Company's independent directors receive a fee of $2,500 for each regularly scheduled monthly and special meeting of the board of directors, regardless of attendance. Only one fee is paid for joint board meetings of the Bank and the Company. Directors also currently receive life, health and dental insurance benefits through the Bank.
On July 22, 2009, the board of directors of the Company adopted an amendment to Section 3.01 of Article III of the Company's Bylaws to increase the size of the board of directors from six directors to eight directors. The text of the amendment to the Bylaws is attached to this Current Report on Form 8-K as Exhibit 3.1 and is incorporated into this Current Report on Form 8-K by reference. The effective date of the amendment is July 22, 2009.
The following exhibits are being furnished herewith:
3.1 Text of Amendment to Bylaws.
99.1 Press Release of TierOne Corporation, dated July 22, 2009.
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