Attached files
| file | filename |
|---|---|
| EX-10.1 - AMENDMENT TO EMPLOYMENT AGREEMENT - EXACTECH INC | dex101.htm |
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 and Exchange Act of 1934
Date of Report (Date of earliest event reported): June 30, 2011
EXACTECH, INC.
(Exact Name of Registrant as Specified in Its Charter)
| Florida | 0-28240 | 59-2603930 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
2320 NW 66th Court
Gainesville, Florida 32653
(Address of Principal Executive Office)
Registrant’s telephone number, including area code (352) 377-1140
(Former Name or Former Address, if Changed Since Last Report)
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:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement
The information contained in Item 5.02 is incorporated by reference in this Item 1.01.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 1, 2011, Exactech, Inc. (the “Company”) and Dr. William Petty, the Company’s Chief Executive Officer and Chairman of the Board of Directors, executed a second amendment to the employment agreement, dated March 31, 2008, between Dr. Petty and the Company. The amendment to the employment agreement extends the current term under Dr. Petty’s employment agreement with the Company, which was previously amended to expire on June 30, 2011, to September 30, 2011 with the subsequent term to begin on October 1, 2011. The amendment provides for the continuation of such term to allow for renegotiation of a new employment agreement. The amendment provides for Dr. Petty’s incentive compensation for the year 2011 to be based upon certain performance metrics and methodologies established by the Compensation Committee of the Company’s Board of Directors. All other terms to the employment agreement remain unchanged. The amendment to the employment agreement is attached hereto as Exhibit 10.1 and is hereby incorporated by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit |
Description | |
| 10.1 | Amendment to employment agreement between Exactech, Inc. and R. William Petty, M.D. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EXACTECH, INC. | ||||||
| Date: July 6, 2011 | By: | /s/ Joel C. Phillips | ||||
| Joel C. Phillips | ||||||
| Chief Financial Officer | ||||||
EXHIBIT INDEX
| Exhibit |
Description | |
| 10.1 | Amendment to employment agreement between Exactech, Inc. and R. William Petty, M.D. | |