Central European Distribution 8-K 2007
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) January 18, 2007
CENTRAL EUROPEAN DISTRIBUTION CORPORATION
(Exact Name of Registrant as Specified in Charter)
(Registrants telephone number, including area code)
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 1.01. Entry into a Material Definitive Agreement.
On January 18, 2007, the board of directors of Central European Distribution Corporation (the Company) approved, effective January 1, 2007, revisions to the annual option grants and fees granted for serving as a member of the board of directors. The revisions are as follows:
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 18, 2007, the board of directors of the Company approved, effective January 1, 2007, the drafting and execution of amendments to the employment agreements of certain of the companys officers. These amendments were executed on January 24, 2007 as annexes to the original employment agreements and revised the employment agreements of those officers in the following ways:
Copies of the annexes are filed as exhibits 10.1, 10.2, 10.3, 10.4 and 10.5, respectively, to this Form 8-K and incorporated herein by reference.
Additionally, on January 18, 2007, the board of directors of the Company approved, effective January 1, 2007, the terms of the Companys Executive Bonus Plan (the Plan) for fiscal years 2006, 2007 and 2008. The base aggregate cash bonus under the Plan will be $600,000 for the 2006 fiscal year, $700,000 for the 2007 fiscal year, and $825,000 for the 2008 fiscal year. The payout of the aggregate cash bonus in fiscal years 2007, 2008 and 2009 shall be as follows:
The aggregate cash bonus to be paid under the Plan for any given fiscal year will be allocated among Mr. Carey, Mr. Evangelou, Mr. Biedermann and Mr. Archbold as follows: Mr. Carey will receive 47% of such aggregate cash bonus, Mr. Evangelou will receive 25% of such aggregate cash bonus, Mr. Biedermann will receive 18% of such aggregate cash bonus and Mr. Archbold will receive 10% of such aggregate cash bonus.
Item 9.01. Financial Statements and Exhibits.
Pursuant to the requirements of the Securities Exchange Act of 1934, Central European Distribution Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 24, 2007