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| SCKT > SEC Filings for SCKT > Form 8-K on 3-Apr-2009 | All Recent SEC Filings |
3-Apr-2009
Change in Directors or Principal Officers, Financial Statements and Exhibits
On March 31, 2009, the Company terminated the employment of Thomas L. Noggle, Vice President of Engineering, and Robert C. Zink, Vice President of Worldwide Sales and Marketing, as part of a streamlining of the Company's executive team as a cost saving measure. The terms of the terminations are provided under the Executive Employment Agreements between each of the officers and the Company as reported on the Company's Form 8-K dated January 21, 2009. As a result of Mr. Noggle's termination, Mr. Noggle is entitled to regular base salary for a period of three months, continued health insurance benefits for up to three months, certain variable compensation amounts under the Company's Management Variable Incentive Compensation Plan, and other benefits as provided in his Executive Employment Agreement. As a result of Mr. Zink's termination, Mr. Zink is entitled to regular base salary for a period of four months, continued health insurance benefits for up to four months, certain variable compensation amounts under the Company's Management Variable Incentive Compensation Plan, and other benefits as provided in his Executive Employment Agreement.
The duties of Mr. Noggle and Mr. Zink are being assumed by other officers and senior management employees of the Company as reported in a press announcement dated April 3, 2009 which is attached as Exhibit 99.1.
(d) Exhibits.
Exhibit Number Description
99.1 Press announcement titled "Socket Mobile Streamlines
Executive Team Organization"
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