Attached files
| file | filename |
|---|---|
| EX-10.1 - SHORT-TERM INCENTIVE PLAN - SAJAN INC | v373539_ex10-1.htm |
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): March 27, 2014
Sajan, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 000-51560 | 41-1881957 | ||
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 625 Whitetail Blvd., River Falls, Wisconsin | 54022 | |||
| (Address of principal executive offices) | (Zip Code) | |||
(715) 426-9505
(Registrant’s telephone number, including area code)
(Former name and 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 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 27, 2014, the Compensation Committee of the Board of Directors of Sajan, Inc. (the “Company”) approved the Sajan 2014 Short-Term Incentive Plan (the “Plan”), covering Sajan employees, including the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer. The aggregate amount available for quarterly distribution under the Plan will be based on the Company’s 2014 quarterly actual adjusted EBITDA. Amounts paid under the Plan will be determined by specific targets and other metrics determined by the Compensation Committee of the Board. Any payout under the plan will be allocated to employees based on each employee’s individual maximum bonus opportunity.
This foregoing summary does not purport to be complete and is qualified in its entirety by reference to the text of the Plan, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit No. | Description |
| 10.1 | Sajan 2014 Short-Term Incentive Plan |
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.
| SAJAN, INC. | |
| By: /s/ Thomas Skiba | |
| Thomas Skiba, Chief Financial Officer | |
| Date: April 1, 2014 |
SAJAN, INC.
FORM 8-K CURRENT REPORT
INDEX TO EXHIBITS
| Exhibit No. | Description | |
| 10.1 | Sajan 2014 Short-Term Incentive Plan |