TMCnet News
LDR HOLDING CORP FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Financial Statements and Exhibits(Edgar Glimpses Via Acquire Media NewsEdge) Item 1.01 Entry into a Material Definitive Agreement. On July 24, 2014, LDR Médical, S.A.S. ("LDR Médical"), a wholly owned subsidiary of LDR Holding Corporation (the "Company"), entered into an amendment (the "Amendment") with Invibio Ltd. to the Supply Agreement, dated January 31, 2003, as amended, to extend the term of such agreement through August 31, 2014. The foregoing description of the Amendment does not purport to be complete and is subject to and qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. Item 5.02. Departure of Director or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) On July 25, 2014, the Compensation Committee (the "Compensation Committee") of the Board of Directors of the Company approved changes to the compensation for Robert McNamara, the Company's Executive Vice President, Chief Financial Officer. Effective July 1, 2014, Mr. McNamara's annual salary was increased to $320,000 per year, and his target incentive bonus became 50% of base salary, with one-half of such incentive bonus being paid based upon quarterly performance targets and one-half of such incentive bonus being paid based upon annual performance targets (with his target bonus for 2014 prorated due to the timing of his salary increase). Mr. McNamara's incentive bonus targets are related to the Company's revenue and other financial performance metrics for the relevant periods, as well as Chief Executive Officer and Compensation Committee discretion. Item 9.01 Financial Statements and Exhibits. Exhibit Number Description 10.1 Amendment, dated July 24, 2014, to Supply Agreement, by and between LDR Médical, S.A.S and Invibio Ltd. -------------------------------------------------------------------------------- |