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):May 27, 2005
ESS TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
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California
(State or other jurisdiction
of incorporation) | | 0-26660
(Commission File
Number) | | 94-2928582
(IRS Employer
Identification No.) |
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48401 FREMONT BOULEVARD
FREMONT, CA
(Address of principal executive offices) | | 94538
(Zip Code) |
Registrant’s telephone number, including area code:(510) 492-1088
N/A
(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) |
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| o | | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| o | | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| o | | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement.
On May 27, 2005, the Compensation Committee of the Board of Directors of ESS Technology, Inc. (the “Company”) approved the payment of a one-time discretionary cash bonus of $104,500 to James B. Boyd, Chief Financial Officer, Senior Vice President and Assistant Secretary of the Company, for his services to the Company. The discretionary bonus is in recognition of Mr. Boyd’s achievements outside of his 2004 performance criteria established under the Company’s 2004 Management Incentive Plan, overcoming challenges related to limited human resources.
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SIGNATURE
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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| Date: June 2, 2005 | ESS TECHNOLOGY, INC.
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| | By: | /s/ Robert L. Blair | |
| | | Robert L. Blair | |
| | | President and Chief Executive Officer | |
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