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SAAS > SEC Filings for SAAS > Form 8-K on 21-Nov-2012All Recent SEC Filings

Show all filings for INCONTACT, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for INCONTACT, INC.


21-Nov-2012

Change in Directors or Principal Officers


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


Cash Compensation

On November 16, 2012, the Compensation Committee of the Board of Directors
approved an increase in the cash element of compensation to be paid to our
executive officers for the year beginning January 1, 2013. The following table
shows for each of our named executive officers his or her base salary and target
bonus percentage for 2013.



          Name and Position                  Base Salary      Target Bonus %
          Paul Jarman                       $     300,000          75%
          Chief Executive Officer
          Gregory S. Ayers                  $     250,000          40%
          EVP and Chief Financial Officer
          Scott Welch                       $     235,000          40%
          EVP and Chief Operating Officer
          Mariann McDonagh                  $     245,000          45%
          EVP and Chief Marketing Officer
          Sunny Gosain                      $     250,000          45%
          EVP and Chief Product Officer
          Bassam Salem                      $     250,000          45%
          Chief Business Officer

The details regarding the executive bonus plan for 2013 have not yet been determined.

Stock Option Grants

On November 16, 2012, the Compensation Committee of the Board of Directors approved grants of stock options to our executive officers under our 2008 Equity Incentive Plan. The following table sets forth certain information with respect to grants of common stock options to the named executive officers that received grants. Each of the stock options granted vests in three equal annual installments commencing one year after the date of grant and expire five years from grant date.

--------------------------------------------------------------------------------
                                     Number of Securities    Exercise Price of
   Name and Position                  Underlying Options    Option Awards ($/Sh)
   Paul Jarman                             170,000                  5.25
   Chief Executive Officer
   Gregory S. Ayers                        112,500                  5.25
   EVP and Chief Financial Officer
   Scott Welch                              97,500                  5.25
   EVP and Chief Operating Officer
   Mariann McDonagh                        101,250                  5.25
   EVP and Chief Marketing Officer
   Sunny Gosain                             56,250                  5.25
   EVP and Chief Product Officer
   Bassam Salem                            101,250                  5.25
   Chief Business Officer

Restricted Stock Awards

On November 16, 2012, the Compensation Committee of the Board of Directors
approved awards of restricted stock to our executive officers under our 2008
Equity Incentive Plan. The following table sets forth certain information with
respect to awards of restricted stock to the named executive officers that
received awards.



                                   Number of Restricted     Grant Date Price of
 Name and Position                        Shares          Restricted Shares ($/Sh)
 Paul Jarman                              30,000                    5.25
 Chief Executive Officer
 Gregory S. Ayers                         19,900                    5.25
 EVP and Chief Financial Officer
 Scott Welch                              17,250                    5.25
 EVP and Chief Operating Officer
 Mariann McDonagh                         17,900                    5.25
 EVP and Chief Marketing Officer
 Sunny Gosain                             9,950                     5.25
 EVP and Chief Product Officer
 Bassam Salem                             17,900                    5.25
 Chief Business Officer


The recipients of the restricted stock have voting and dividend rights. The shares of restricted stock are held by the Company in escrow until specified selling restrictions expire. The recipients cannot sell or transfer the shares of restricted stock (except by will or by the laws of descent and distribution) until the specified restriction periods expire. For each recipient the restriction on transfer will expire for one-third of the restricted shares awarded on the next three anniversaries of the date of grant. If a recipient's service with the Company terminates for any reason, any shares that remain subject to the selling restrictions because the applicable restriction period has not expired are automatically reconveyed to the Company for no cash or other consideration. In the event a recipient is entitled to receive a severance payment under the terms of the Change in Control Severance Compensation Policy adopted by the Company in August 2011, any period of restriction on transfer that has not lapsed will accelerate and lapse immediately prior to the termination of continuous service on the terms set forth in the Change in Control Severance Compensation Policy.


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