UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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):June 6, 2005
CASH SYSTEMS, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
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1-31955
(Commission File Number) | | 87-0398535
(IRS Employer
Identification No.) |
3201 West County Road 42, Suite 106
Burnsville, Minnesota 55306
(Address of Principal Executive Offices) (Zip Code)
(952) 895-8399
(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:
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))
TABLE OF CONTENTS
Item 1.01. Entry into a Material Definitive Agreement.
Executive Employment Agreement with Mr. Glaser
On June 6, 2005, the Company entered into an Executive Employment Agreement with John F. Glaser (the “Employment Agreement”), pursuant to which Mr. Glaser will serve as the Company’s Executive Vice President of Sales and Marketing. Under the terms of the Employment Agreement, Mr. Glaser will receive an annual base salary of $150,000 and is entitled to an annual bonus (based on achievement of performance criteria) and other usual benefits.
Mr. Glaser was granted stock options to purchase up to 100,000 shares of the Company’s common stock at the “fair market value” of such stock on June 6, 2005. The stock options have ten year term and vest over two years. The Employment Agreement is for a term of two years, subject to renewal.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: June 10, 2005
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| | CASH SYSTEMS, INC.
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| | By /s/ Michael Rumbolz | |
| | Michael Rumbolz | |
| | Chief Executive Officer | |
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