TEAM HEALTH HOLDINGS 8-K 2011
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): August 9, 2011
Team Health Holdings, Inc.
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code: (865) 693-1000
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:
(e) On August 22, 2011, Team Health Holdings, Inc. (the Company) reported that at the request of H. Lynn Massingale, M.D., the Companys Executive Chairman and Director, the Board of Directors of the Company and the Companys CEO have agreed that, effective as of January 1, 2012, Dr. Massingales primary focus as the Executive Chairman of the Board will be on strategic initiatives, acquisitions and client and physician relationships, with a reduced involvement in ongoing operational matters. To reflect this change in his focus and reduced activities on behalf of the Company, the Compensation Committee of the Board of Directors determined that Dr. Massingales employment agreement would be modified so that his annual base salary, effective as of January 1, 2012, would be reduced to $311,332, and his target bonus opportunity, which is 85% of his annual base salary, would also be reduced accordingly.
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.