Attached files
| file | filename |
|---|---|
| EX-10.1 - SEPARATION AGREEMENT - BLUE COAT SYSTEMS INC | dex101.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 17, 2011
BLUE COAT SYSTEMS, INC.
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 000-28139 | 91-1715963 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification Number) |
420 North Mary Avenue
Sunnyvale, California 94085
(408) 220-2200
(Addresses, including zip code, and telephone numbers, including area code, of principal executive offices)
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):
| ¨ | 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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
As earlier reported on Form 8-K, Blue Coat Systems, Inc. (the “Company”) reported the departure of Michael J. Borman as President and Chief Executive Officer and member of the Board of Directors, effective August 16, 2011. In connection with the departure of Mr. Borman and the termination of his employment, the Company and Mr. Borman entered into a separation agreement. On August 17, 2011, consistent with the terms of his offer letter agreement dated August 30, 2010, the separation agreement provides for a lump sum severance payment of $1,170,000 to Mr. Borman, representing an amount equal to his annual base salary and 100% of his annual target compensation. In exchange for the severance payment, Mr. Borman has released all claims against the Company.
Item 9.01 Financial Statements and Exhibits
| (d) | Exhibits. |
| 10.1 | Separation agreement, dated August 17, 2011, between Michael J. Borman and Blue Coat Systems, Inc. |
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.
| BLUE COAT SYSTEMS, INC. | ||||||
| DATE: August 18, 2011 | By: | /s/ Gordon C. Brooks | ||||
| Gordon C. Brooks | ||||||
| Senior Vice President & Chief Financial Officer | ||||||
INDEX TO EXHIBITS
| Exhibit |
Description | |
| 10.1 |
Separation agreement, dated August 17, 2011, between Michael J. Borman and Blue Coat Systems, Inc. | |