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| LIOX > SEC Filings for LIOX > Form 8-K on 5-Nov-2009 | All Recent SEC Filings |
5-Nov-2009
Entry into a Material Definitive Agreement, Results of Operation
On October 30, 2009, Lionbridge Global Sourcing Solutions, Inc., a Delaware corporation, became a party to the Credit Agreement (the "Credit Agreement"), dated as of December 21, 2006, by and among Lionbridge Technologies, Inc., VeriTest, Inc, Lionbridge US, Inc., Lionbridge Global Solutions Federal, Inc. ("Federal"), Lionbridge Global Solutions II, Inc., and Lionbridge International, the several banks and financial institutions as may become parties to the Credit Agreement (collectively, the "Lenders") and HSBC Bank USA, National Association, as administrative agent for the Lenders ("HSBC"). Lionbridge Global Sourcing Solutions, Inc. is a Guarantor under the terms of the Credit Agreement. The Credit Agreement and ancillary documents related thereto are filed as Exhibits 10.1 - 10.5 to the 8-K filed on December 26, 2006, and the Joinder Agreement dated as of October 30, 2009 is attached hereto as Exhibit 10.1, and the descriptions related thereto and contained herein are qualified in their entirety by reference to such exhibits.
Attached hereto as Exhibit 99.1 and incorporated by reference herein is financial information for the registrant for the third quarter of fiscal 2009 and forward-looking statements relating to 2009 and 2010, as presented in a press release of November 5, 2009. The information in this Current Report on Form 8-K is furnished under Item 2.02 - "Results of Operations and Financial Condition." Such information, including the exhibits attached hereto, shall not be deemed "filed" for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section. The information in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing.
The Nominating and Compensation Committee of the Board of Directors of Lionbridge approved an adjustment to the base salaries of Henri Broekmate and Paula Shannon, both General Managers of the Global Localization and Translation business and Senior Vice Presidents of Lionbridge, to reflect additional responsibilities assumed by such individuals. The base salaries of each of Mr. Broekmate and Ms. Shannon was increased from $250,000 to $300,000, effective November 1. In addition, Mr. Broekmate and Ms. Shannon will now each report directly to the Chief Executive Officer.
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