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
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| Date of Report (Date of Earliest Event Reported): | | December 13, 2007 |
ValueVision Media, Inc.
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(Exact name of registrant as specified in its charter)
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| Minnesota | 0-20243 | 41-1673770 |
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(State or other jurisdiction | _____________
(Commission | ______________
(I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
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| 6740 Shady Oak Road, Eden Prairie, Minnesota | | 55344-3433 |
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(Address of principal executive offices) | | ___________
(Zip Code) |
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| Registrant’s telephone number, including area code: | | (952) 943-6000 |
Not Applicable
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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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] 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 December 13, 2007, the board of directors approved changes to the severance arrangements for Frank Elsenbast, our Senior Vice President and Chief Financial Officer, and Nathan Fagre, our Senior Vice President and General Counsel. Under the approved changes, during the period from December 13, 2007 until the end of our 2008 fiscal year, in the event these officers are terminated from employment by our company without cause or for good reason by the officer, then these officers will receive an enhanced severance payment equal to two times their base salaries and two times their annual bonus objective. For Mr. Elsenbast, this would total $900,000 if the termination occurs in fiscal 2007 or fiscal 2008. For Mr. Fagre, this would total $936,000 if the termination occurs in fiscal 2007 or fiscal 2008.
SIGNATURES
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.
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| | | ValueVision Media, Inc. |
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| December 19, 2007 | | By: | | Nathan E. Fagre
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| | | | | Name: Nathan E. Fagre |
| | | | | Title: Senior Vice President, General Counsel and Secretary |
