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):December 30, 2004
-----------------
NCRIC Group, Inc.
-----------------
(Exact Name of Registrant as Specified in its Charter)
Delaware 0-25505 52-2134774
- ----------------------------- ------------------ ----------
(State or Other Jurisdiction) (Commission File No.) (I.R.S. Employer
of Incorporation) Identification No.)
1115 30th Street, N.W., Washington, D.C. 20007
- ---------------------------------------- -----
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (202) 969-1866
--------------
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):
[ ] 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 1.01 Entry into a Material Definitive Agreement
------------------------------------------
On December 30, 2004, NCRIC Group, Inc. (the "Company") entered into an
advisory agreement with Stephen S. Fargis, who resigned as the Company's senior
vice president and chief operating officer, as of December 31, 2004. Under the
advisory agreement, Mr. Fargis will continue to provide consulting services to
the Company in connection with the development of strategic planning. The
advisory agreement commences January 1, 2005 and shall expire June 30, 2006. Mr.
Fargis will receive quarterly compensation of $66,667. The agreement may be
terminated for cause without further obligation of the Company. In addition, if
Mr. Fargis determines to discontinue providing advisory services, or if such
services are in fact not provided, the Company may terminate the agreement
without further obligation. The advisory agreement is attached as Exhibit 99.1
to this Form 8-K.
Item 9.01 Financial Statements and Exhibits
---------------------------------
(a) Financial statements of businesses acquired. Not Applicable.
(b) Pro forma financial information. Not Applicable.
(c) Exhibits.
The following exhibit is attached as part of this report:
99.1 Advisory Agreement by and between the Company and Stephen S.
Fargis
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.
NCRIC GROUP, INC.
DATE: January 6, 2005 By: /s/ R. Ray Pate, Jr.
-------------------------------------
R. Ray Pate, Jr.
President and Chief Executive Officer
EXHIBIT INDEX
Exhibit No. Description
----------- -----------
99.1 Advisory Agreement by and between the Company and
Stephen S. Fargis