Summary of INFOCUS CORP - Yahoo! Finance

Entry into a Material Definitive Agreement, Change in Directors or Principal Officer

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

(d) On February 11, 2009, Michael A. Nery was appointed as a member of the Company's Board of Directors. Concurrent with his appointment, Mr. Nery was appointed to the Audit, Compensation and Nominating and Corporate Governance committees of the Company's Board.

Mr. Nery founded Nery Capital Partners, L.P., an investment fund based in Asheville, NC, and has acted as its manager since September 1999. From January 1997 to May 1999, Mr. Nery served as Vice President and Senior Analyst with Denver Energy Partners, LP. Mr. Nery has served as a director of Tandy Leather Factory, Inc. (AMEX: TLF) since December 2003.

Mr. Nery has declined to receive options to purchase the Company's common stock typically granted to non-employee directors under the Company's existing non-employee director compensation policy.

On February 17, 2009, the Company issued a press release regarding the appointment of Mr. Nery. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

(e) On February 11, 2009, the Compensation Committee of the Company's Board of Directors made annual grants of stock options under the Company's 1998 Stock Incentive Plan, as amended, to certain of the Company's employees, including the following grants to the following executives:

                                                                  Shares Subject
   Name                   Title                                      to Award
   Robert G. O'Malley     President and Chief Executive Officer   45,000
   Joseph P. O'Sullivan   Chief Operating Officer                 45,000
   Lisa K. Prentice       Chief Financial Officer                 45,000
   Steven E. Stark        Vice President, Engineering             37,500

These stock options vest as to 25% of the total shares subject to the award one year from the date of grant and as to an additional 1/48 of the total shares each month thereafter, subject to the executive's continued employment with the Company. Notwithstanding the foregoing, the stock options become fully vested and immediately exercisable if, within 12 months of certain change of control events, the executive's employment is terminated by the Company or its successor without cause, or the executive terminates his employment with the Company or its successor for good reason.