Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed in the Company's Current Report on Form 8-K filed by
infoGROUP Inc. (the "Company") on December 11, 2008, the Company appointed
Thomas Oberdorf as Chief Financial Officer of the Company effective December 5,
2008.
In connection with his appointment as Chief Financial Officer, the Company
entered into an employment agreement with Mr. Oberdorf on December 23, 2008. The
Agreement provides for an annual base salary of $425,000 per year, a one-time
sign-on bonus of $100,000 and the opportunity for annual cash incentives based
upon achievement of individual and objective Company performance criteria.
Mr. Oberdorf may also be entitled to other long-term incentives which may be
awarded from time to time. Mr. Oberdorf's agreement includes a right to receive
severance payments under certain conditions. As part of the agreement,
Mr. Oberdorf has agreed to post-employment non-competition and non-solicitation
obligations. There are no family relationships between Mr. Oberdorf and any of
the Company's directors or executive officers.
A copy of Mr. Oberdorf's employment agreement is attached as Exhibit 10.1, and
is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Employment Agreement between infoGROUP Inc. and Thomas Oberdorf, dated
December 23, 2008.
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