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 10, 2013
THOMAS PROPERTIES GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware | 0-50854 | 20-0852352 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||
515 South Flower Street, Sixth Floor Los Angeles, California | 90071 | |
(Address of principal executive offices) | (zip code) | |
(Registrant's telephone number, including area code)
213-613-1900
Not Applicable
(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 obligation of the registrant under any of the following provisions:
£ | 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
Since June 2012, Thomas Properties Group, Inc. (the “Company”) has been in litigation with a former consultant regarding a claim by the consultant for approximately $5.1 million of incentive compensation pursuant to a consulting agreement, which the Company contested and did not pay. Effective April 10, 2013, the Company entered into a Settlement Agreement and Mutual General Release with the consultant whereby the Company agreed to pay the consultant $3.25 million in total satisfaction of the consultant's claim, within thirty (30) days of the date of the agreement, at which time the parties mutually release all claims against the other and the litigation will be dismissed.
SIGNATURES
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.
THOMAS PROPERTIES GROUP, INC. |
/s/ Diana M. Laing |
Diana M. Laing |
Chief Financial Officer |
April 12, 2012