Altair Engineering Inc. 8-K 2014
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 28, 2014
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code: (408) 544-7000
(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:
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) Effective April 28, 2014, Scott A. Bibaud no longer serves as Senior Vice President, Communications and Broadcast Division of Altera Corporation (the Company). Mr. Bibaud is expected to remain an employee of the Company through August 1, 2014.
(e) The Company will enter into a severance agreement with Mr. Bibaud, pursuant to which he will receive a lump-sum payment, less applicable withholding taxes, equal to 12 months of his annual base salary, the Company will pay COBRA premiums for 12 months from the date of termination or until an earlier date upon which he becomes eligible for insurance coverage from a new employer, and the Company will pay for placement services, subject to Mr. Bibaud signing and not revoking a release of claims and certain other conditions contained in the agreement.
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.
Dated: May 1, 2014