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Quotes & Info
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| SREV > SEC Filings for SREV > Form 8-K on 9-Jan-2013 | All Recent SEC Filings |
9-Jan-2013
Other Events
As previously disclosed, Richard Campione was elected to the Board of Directors (the "Board") of ServiceSource International, Inc. (the "Company") on November 29, 2012. On December 19, 2012, the Company entered into a consulting agreement with Mr. Campione under which Mr. Campione provides certain software consulting services to the Company. Mr. Campione will be paid up to a maximum of $240,000 for consulting services provided during the term of the agreement, which ends March 31, 2013. This consulting agreement likely constitutes a related party transaction between Mr. Campione and the Company because the amounts payable are expected to exceed $120,000, which will require reporting under Section 404(a) of Regulation S-K. The Audit Committee of the Board has pre-approved this consulting agreement in accordance with the Company's formal policy regarding related party transactions. Given this consulting relationship, Mr. Campione likely will not be considered an independent director of the Board, and, as a result, Mr. Campione will no longer serve on the Nominating and Corporate Governance Committee of the Board. Mr. Campione will continue to receive outside director compensation from the Company as previously disclosed.
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