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ACTV > SEC Filings for ACTV > Form 8-K on 26-Nov-2012All Recent SEC Filings

Show all filings for ACTIVE NETWORK INC

Form 8-K for ACTIVE NETWORK INC


26-Nov-2012

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 November 19, 2012, Sheryl Roland, a named executive officer of The Active Network, Inc. (the "Company") announced her resignation as Executive Vice President, Human Resources of the Company, effective November 30, 2012 (the "Effective Date"). In connection with her departure from the Company, Ms. Roland entered into an agreement (the "Letter Agreement") with the Company pursuant to which the Company agreed to (i) accelerate the vesting of 16,148 of Ms. Roland's unvested shares of the Company's common stock which were previously acquired by Ms. Roland upon the early exercise of options granted under the Company's 2002 Stock Option/Stock Issuance Plan, and (ii) accelerate the vesting of 5,080 of Ms. Roland's unvested restricted stock units. The Letter Agreement also contains non-solicitation and non-disparagement provisions and a waiver and general release. The Letter Agreement was approved by the Company's Compensation Committee on November 19, 2012.

The foregoing description of the Letter Agreement is not complete and is qualified by reference to the complete document, which is attached hereto as Exhibit 10.47 and incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit
  No.     Description

 10.47    Letter Agreement, dated November 26, 2012, by and between the Company
          and Sheryl Roland.


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