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SURG > SEC Filings for SURG > Form 8-K on 23-Nov-2012All Recent SEC Filings

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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.

(f) Fiscal 2012 Bonuses

On November 16, 2012, the Compensation Committee of the Board of Directors of Synergetics USA, Inc. (the "Company") approved fiscal 2012 bonus payments to each of the Company's named executive officers. This bonus compensation information was not included in the Summary Compensation Table included in the Company's Proxy Statement for its 2012 Annual Meeting of Stockholders, filed with the Securities and Exchange Commission on November 14, 2012 (the "Proxy Statement"), because the amount of the bonuses had not been determined at the time of filing the Proxy Statement. The table below updates the Bonus and Total columns in the Summary Compensation Table for the named executive officers previously set forth in the Proxy Statement. No other amounts have changed.

2012 Summary Compensation Table

                              Fiscal                                  Stock          Option         All Other
Name and Principal Position    Year     Salary        Bonus         Awards(1)      Awards(1)      Compensation       Total (2)
David M. Hable                 2012    $ 395,000     $ 35,550 (2)   $  357,637     $  389,495     $       2,469     $ 1,180,151
President & Chief Executive
Kurt W. Gampp, Jr. (3)         2012    $ 328,998     $ 35,097 (2)   $  159,250     $   90,535     $         500     $   614,380
Executive Vice President &
Chief Operating Officer
Jerry L. Malis                 2012    $ 278,267     $ 23,653 (2)   $  127,400     $   88,679     $           -     $   517,999
Executive Vice President &
Chief Scientific Officer
Pamela G. Boone                2012    $ 270,684     $ 18,176 (2)   $  159,250     $   96,089     $       1,735     $   545,934
Executive Vice President &
Financial Officer
Michael R. Fanning             2012    $ 214,961     $ 11,178 (2)   $  137,815     $   65,353     $       8,575     $   437,882
Vice President of Domestic
Jason J. Stroisch              2012    $ 214,961     $ 18,750 (2)   $  137,815     $   65,353     $       1,735     $   438,614
Vice President of
Marketing & Technology

(1) Represents the aggregate grant date fair value for all restricted stock or stock options, as applicable, granted to the named executive officers in the fiscal year indicated, computed in accordance with FASB Accounting Standards Codification Topic 718, Compensation - Stock Compensation (formerly FASB Statement 123R). For information about the assumptions made in this valuation, refer to "Note 11. Stock-Based Compensation Plans" to the Company's Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the fiscal year ended July 31, 2012.

(2) Bonus amounts reported for 2012 were earned in fiscal 2012 and paid in fiscal 2013.

(3) Mr. Gampp resigned as the Company's Executive Vice President and Chief Operating Officer effective May 4, 2012. All stock options and restricted stock awards disclosed were forfeited.

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