UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): April 14, 2008
SYMMETRICOM, INC.
(Exact name of registrant as specified in its charter)
Delaware |
| 000-02287 |
| 95-1906306 |
(State or other jurisdiction |
| (Commission File Number) |
| (I.R.S. Employer |
of Incorporation) |
|
|
| Identification Number) |
2300 Orchard Parkway, San Jose, California 95131-1017
(Address of principal executive offices, including zip code)
(408) 433-0910
(Registrant’s telephone number, including area code)
Not Applicable
(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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On April 14, 2008, it was determined that David Cox’s service as Executive Vice President & General Manager, QoE Assurance Division of Symmetricom, Inc. (the “Company”) would terminate effective April 14, 2008, with Mr. Cox to serve in a transition capacity through June 27, 2008.
In connection with his termination of employment and pursuant to the terms of his executive severance benefits agreement with the Company, the form of which was filed with the Commission as Exhibit 10.1 to its Form 8-K filed on October 15, 2007, Mr. Cox will receive (i) his base salary for 9 months, (ii) 75 % of his target annual bonus, and (iii) health benefits for Mr. Cox for up to 9 months (or the earlier expiration of the COBRA continuation period).
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 17, 2008 | By: | /s/ William Slater |
|
| William Slater |
|
| Chief Financial Officer and Secretary |
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