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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): May 20, 2008
ADEPT TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
California 0-27122 94-2900635
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) file number) Identification Number)
3011 Triad Drive 94551
Livermore, CA (Zip Code)
(Address of principal executive offices)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (925) 245-3400
None
(Former Name or Former Address, if Changed Since Last Report)
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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))
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Item 5.02 Compensatory Arrangements of Certain Officers
Payment of Sales Commissions Bonus under Fiscal 2008 Executive and Senior
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Management Payment Plan
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On October 4, 2007, the Board of Directors of Adept Technology, Inc.
("Adept" or the "Company") approved the adoption by the Company of the Executive
and Senior Management Payment Plan for fiscal year 2008 (the "Plan"), which was
subsequently amended in January 2008. Pursuant to the Plan, Mr. Joachim Melis,
Adept's Vice President, Worldwide Sales, may receive cash commissions based on
Adept's consolidated revenue for each fiscal quarter during the year ended June
30, 2008, as determined by the Compensation Committee of the Board of Directors
of Adept. The Plan provides for sliding scale commissions of a percentage of
0.10%, 0.40% or 0.80% of Adept's revenue at certain levels for each quarter, and
is not subject to a maximum limit. On May 20, 2008, the Compensation Committee
awarded payment to Mr. Melis of an aggregate of approximately $113,000 payable
in Euros, reflecting commissions for the first three quarters of fiscal 2008,
and representing an aggregate of approximately 0.26% of total revenues for those
periods. Sales commissions payable for the full fiscal year will depend upon
revenues earned during the fourth quarter.
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.
ADEPT TECHNOLOGY, INC.
Date: May 27, 2008 By: /s/ Lisa M. Cummins
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Lisa M. Cummins
Vice President of Finance and Chief
Financial Officer