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EX-10.1 - FALCONSTOR SOFTWARE INCex101to8k04637006_01212015.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): January 21, 2015
 
FALCONSTOR SOFTWARE, INC.
(Exact name of registrant as specified in its charter)
     
Delaware
000-23970
77-0216135
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
     
2 Huntington Quadrangle, Melville, New York
11747
(Address of principal executive offices)
(Zip Code)

Registrant’s telephone number, including area code: 631-777-5188
 
N/A
(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 (see General Instruction A.2. below):

o 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.
 
The information contained in Item 5.02 is incorporated by reference into this Item 1.01.
 
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
On January 21, 2015, Seth Horowitz, Executive Vice President, General Counsel and Secretary, of FalconStor Software, Inc. (the “Company”), resigned from all of his positions in the Company to pursue other opportunities.  The resignation is effective immediately.  Mr. Horowitz  will continue to serve as a consultant to the Company.
 
On January 21, 2015, the Company entered into a Severance Agreement and General Release (the “Agreement”), with Mr. Horowitz.  Pursuant to the Agreement, among other things, the Company agreed to pay to Mr. Horowitz $140,000 in severance pay.
 
Item 9.01.
Financial Statements and Exhibits.
 
 
(d)
Exhibits.
 
Exhibit No.
Description
 
 
10.1
Separation Agreement and General Release.
 
 
1

 
 
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.
 
Date:  January 21 , 2015
FALCONSTOR SOFTWARE, INC.
   
   
 
By:
/s/ Louis J. Petrucelly
   
Name:
Louis J. Petrucelly
   
Title:
Executive Vice President and Chief Financial Officer
 

 
 
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