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) August 14,
2008
The
Inventure Group, Inc.
(Exact name of
registrant as specified in its charter)
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Delaware
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1-14556
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86-0786101
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(State or other
jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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5050 N.
40
th
St., Suite 300, Phoenix, AZ
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85018
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(Address of
principal executive offices)
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(Zip Code)
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Registrant’s
telephone number, including area code
(623) 932-6200
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(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:
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Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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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 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Executive
Cash Bonus Plan
On February 12, 2008, the
Compensation Committee of the Board of Directors of the Company approved a key
employee cash bonus plan for the Company’s fiscal year ending December 27,
2008, in which the following named executive officers participate:
Terry McDaniel, President
and Chief Executive Officer, is eligible to receive an annual bonus under the
plan of up to $154,000 (40% of his base salary), two-thirds of which is based
on the Company achieving the net income targets set forth in the plan and
one-third of which is based on the achievement of individual goals.
Steve Weinberger, Chief
Financial Officer, is eligible to receive an annual bonus under the plan of up
to $92,750 (35% of his base salary), two-thirds of which is based on the
Company achieving the net income targets set forth in the plan and one-third of
which is based on the achievement of individual goals.
Steve Sklar, Senior Vice
President of Marketing, is eligible to receive an annual bonus under the plan of
up to $54,017 (25% of his base salary), two-thirds of which is based on the
Company achieving the net income targets set forth in the plan and one-third of
which is based on the achievement of individual goals.
Performance is measured and
payments are made following the six-month period ending June 28, 2008, the
three-month period ending September 27, 2008 and the three-month period
ending December 27, 2008.
On July 21, 2008, the
Board of Directors acknowledged that the goals for the six-month period ending June 28,
2008 had been achieved and approved performance bonuses of $34,650, $20,869 and
$12,154 to Messrs. McDaniel, Weinberger and Sklar, respectively. Payments of these amounts were made on August 14,
2008.
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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The Inventure Group, Inc.
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(Registrant)
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Date
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August 18, 2008
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/s/ Steve Weinberger
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(Signature)
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Steve Weinberger
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Chief Financial Officer
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