UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 20, 2010
MAJESCO ENTERTAINMENT COMPANY
(Exact name of registrant as specified in its charter)
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Delaware
(State or other jurisdiction
of incorporation)
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001-32404
(Commission File Number)
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06-1529524
(IRS Employer
Identification No.) |
160 Raritan Center Parkway
Edison, New Jersey 08837
(Address of principal executive offices and zip code)
Registrant’s telephone number, including area code: (732) 225-8910
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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| Item 5.02 |
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers. |
(e) In connection with the appointment, effective August 20, 2010, of Michael Vesey to the position
of Interim Chief Financial Officer, as previously reported on a Current Report on Form 8-K filed
with the Commission on July 30, 2010, the Company has entered into an arrangement with Mr. Vesey
pursuant to which Mr. Vesey will retain his current base salary of $200,000 per calendar year (the
“Base Salary”). In addition, he will be eligible to (i) receive an annual cash bonus in an amount
up to 35% of the Base Salary based on the achievement of the objectives set forth as part of the
Company’s incentive bonus plan for executives as described in a Current Report on Form 8-K filed
with the Commission on April 16, 2010, and (ii) participate in any incentive compensation
program(s) (including any long-term incentive programs) provided by the Company. It is expected
that such incentive programs will include compensation in the form of equity awards. Mr. Vesey
will, in the event of a termination by the Company of his position without cause, receive severance
payments in the form of continued salary for six (6) months after such termination.