Blackboard 8-K 2011
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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)
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 29, 2010, Blackboard Inc. (the "Company") and Judy Verses, the Company’s chief client officer and president of sales & marketing, entered into an amendment to Ms. Verses’ employment agreement with the Company in connection with her previously announced departure from the Company (the "Amendment"). As part of the Amendment, the Company has agreed to pay to Ms. Verses her annual base salary and her COBRA insurance premiums for a period of four months following her last day of employment with the Company, which is currently expected to be February 28, 2011, subject to Ms. Verses’ agreement to release all claims against the Company.
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.