Red Hat 8-K 2011
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 27, 2011
Red Hat, Inc.
(Exact Name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction
(Registrants Telephone Number, Including Area Code)
(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 (see General Instruction A.2. below):
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) Entry into Material Agreement with Named Executive officer
As previously disclosed in a current report filed by Red Hat, Inc. (the Company) on November 25, 2011, Alex Pinchev has resigned as an employee and Executive Vice President of the Company effective January 16, 2012.
Mr. Pinchev and the Company have entered into a letter agreement effective as of December 27, 2011 (the Consulting Agreement), pursuant to which Mr. Pinchev has agreed to provide at the Companys request services after the effectiveness of Mr. Pinchevs resignation that may include:
The term of the Consulting Agreement will expire on March 1, 2012, the day following the end of the Companys current fiscal year, unless the Agreement is terminated earlier by the Company.
As compensation for these services, Mr. Pinchev will receive up to $50,000 in cash, payable in a lump sum following the completion of the term of the Agreement, plus the reimbursement of any travel expenses he incurs in providing services under the Agreement. In addition, Mr. Pinchevs outstanding equity awards will continue to vest in accordance with their respective original terms for the duration of the term of 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.