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| ACTV > SEC Filings for ACTV > Form 8-K on 26-Dec-2012 | All Recent SEC Filings |
26-Dec-2012
Change in Directors or Principal Officers, Financial Statements and Exhibits
On December 20, 2012, the Compensation Committee of the Board of Directors of The Active Network, Inc. (the "Company") approved an amendment (the "Amendment") to the Retention Agreement, dated April 29, 2011, by and between the Company and Darko Dejanovic (the "Retention Agreement") in connection with Mr. Dejanovic's recent promotion to President of the Company. The Amendment provides that immediately upon a change of control of the Company (as defined in the Retention Agreement), and except with respect to the Performance Based Restricted Stock Units granted to Mr. Dejanovic in 2012, Mr. Dejanovic's unvested stock awards shall automatically be accelerated and vest and/or become exercisable in their entirety. In addition, in the event Mr. Dejanovic's employment is terminated following a change of control of the Company, Mr. Dejanovic's stock awards shall remain exercisable for a period of two (2) years following the date of such termination.
The foregoing description of the Amendment is qualified in its entirety by reference to Amendment No. 2 to the Retention Agreement, dated December 20, 2012, by and between the Company and Mr. Dejanovic which is filed as Exhibit 10.48 to this Form 8-K.
(d) Exhibits
Exhibit No. Description
10.48 Amendment No. 2 to the Retention Agreement, dated December 20,
2012, by and between Registrant and Darko Dejanovic.
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