Portfolio Recovery Associates 8-K 2006
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Portfolio Recovery Associates, Inc.
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 1.01 Entry into a Material Definitive Agreement.
On January 5, 2006, the Board of Directors of Portfolio Recovery Associates, Inc., (the "Company") upon the recommendation of its Compensation Committee, approved the Company’s entry into new employment agreements with the following named Executive Officers. The name, title and minimum annual compensation outlined in each individual’s employment agreement is as follows:
Item 9.01 Financial Statements and Exhibits.
(a) Financial Statements: None.
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.