- Current report filing (8-K)
April 23 2009 - 3:07PM
Edgar (US Regulatory)
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): April 23, 2009 (April 20,
2009)
US DATAWORKS,
INC.
(Exact
name of registrant as specified in its charter)
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|
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(State
or Other Jurisdiction of Incorporation)
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(Commission
File Number)
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(I.R.S.
Employer
Identification
Number)
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One
Sugar Creek Blvd., 5
th
Floor
|
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(Address
of principal executive offices)
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(Zip
Code)
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(281)
504-8000
(Registrant’s
telephone number,
including
area code)
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 obligations 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
(a)
On
April 20, 2009, the Board of Directors (the “Board”) of US Dataworks, Inc. (the
“Company”) approved the following new compensation plan for its outside
directors, effective as of April 1, 2009:
1.
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Base Quarterly Cash
Compensation
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Each
person serving as an outside director of the Company shall receive base
compensation of $6,000 per calendar quarter, payable in cash (as a
non-refundable retainer fee) on the first business day of each calendar quarter
that such person is an outside director of the Company.
2.
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Base Quarterly Equity
Compensation
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Each
person serving as an outside director of the Company shall receive additional
base compensation equal to $825 per calendar quarter, payable in shares of the
Company’s common stock (as a non-refundable retainer fee) to be issued effective
as of the first business day of each calendar quarter that such person is an
outside director of the Company. Such common stock grants (which
shall be fully vested on the date of grant), shall be made under and pursuant to
the terms, provisions and conditions of the US Dataworks, Inc. Amended and
Restated 2000 Stock Option Plan, as amended (and any successor plan thereto, the
“Stock Plan), and shall be valued at the “fair market value” of such common
stock as provided in the Stock Plan.
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Note
:
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As
an example, if the fair market value of the Company’s common stock on the
effective date of the grant (as defined in the Stock Plan) is $1.00 per
share, each outside director will receive 825 shares of common
stock.
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3.
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Additional Quarterly
Equity Compensation
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Each
person serving as an outside director of the Company in the additional
capacities specified below shall receive the following additional compensation
per calendar quarter, payable in shares of the Company’s common stock (as a
non-refundable retainer fee) to be issued effective as of the first business day
of each calendar quarter that such person is serving in such
capacity. Such common stock grants (which shall be fully vested on
the date of grant), shall be made under and pursuant to the terms, provisions
and conditions of the Stock Plan, and shall be valued at the “fair market value”
of such common stock as provided in the Stock Plan.
-Lead
Director
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$
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450
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-Chairman
of the Audit Committee
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$
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425
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-Member
of the Audit Committee
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$
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125
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-Chairman
of the Nominating and
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Corporate
Governance Committee
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$
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250
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-Member
of the Nominating and
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Corporate
Governance Committee
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$
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100
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-Chairman
of the Compensation Committee
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$
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250
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-Member
of the Compensation Committee
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$
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100
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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.
Dated:
April 23, 2009
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US
DATAWORKS, INC.
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By:
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/s/ Charles
E. Ramey
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Charles
E. Ramey
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Chief
Executive Officer
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