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GLUU > SEC Filings for GLUU > Form 8-K on 5-Apr-2013All Recent SEC Filings

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Form 8-K for GLU MOBILE INC


5-Apr-2013

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 April 1, 2013, Glu entered into a Change of Control Severance Agreement, with Matthew Ricchetti, Glu's President of Studios (the "Severance Agreement"). Under the Severance Agreement, if Mr. Ricchetti's employment with Glu is terminated without cause or as a result of an involuntary termination at any time within 12 months after a change of control of Glu, and Mr. Ricchetti delivers to Glu a signed general release of claims, then he will receive (a) six months of his then-current annual base salary, (b) 50% of his annual bonus for the calendar year in which the event triggering the severance occurred, based on the target potential amount (not the amount actually payable), (c) an additional 36 months of vesting with respect to each of his then-outstanding and not fully vested equity awards and (d) up to six months of continuation coverage for him (and any of his eligible dependents) pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985. In addition, the Severance Agreement requires that any successor corporation to Glu must assume the Severance Agreement.

The description of Severance Agreement is qualified in its entirety by the Severance Agreement itself, a copy of which is filed as Exhibit 99.01 to this report.



Item 9.01 Financial Statements and Exhibits.

99.01 Change of Control Severance Agreement, dated April 1, 2013, between Glu Mobile Inc. and Matthew Ricchetti.


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