Unassociated Document
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): May 8, 2009
(Exact
name of registrant as specified in its charter)
DELAWARE
(State or
other jurisdiction of incorporation)
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0-25779
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06-1515824
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(IRS
Employer Identification
No.)
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14
WALL STREET, 15TH
FLOOR
NEW
YORK, NEW YORK 10005
(Address
of principal executive offices, including zip code)
Registrant’s
telephone number, including area code: (212) 321-5000
NA
(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):
□ 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))
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Item
5.02
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Departure
of Directors or Principal Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers.
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As
previously reported, Eric Ashman resigned as the Company’s Chief Financial
Officer, effective May 8, 2009. Effective the same day, Richard
Broitman, the Company’s Vice President of Finance, was appointed to the interim
position of the Company’s Acting Chief Accounting Officer.
Upon his
resignation, Mr. Ashman entered into an agreement with the Company containing
certain separation, severance and release provisions, including the continuation
of certain non-competition, confidentiality and intellectual property provisions
of his prior employment agreement, and providing for the payment to him of
$100,000. In accordance with applicable law, Mr. Ashman may revoke the agreement
during the seven days following his execution thereof.
In
connection with his service as Acting Chief Accounting Officer, in addition to
his current annual salary of $180,000, the Company and Mr. Broitman have entered
into a letter agreement providing that as compensation for such service Mr.
Broitman will be paid a discretionary bonus of at least $20,000, provided
certain performance standards are achieved.
Mr.
Broitman, who is 56, joined the Company as its Controller in July 2000 and was
appointed Vice President of Finance in October 2007. Before joining
the Company, Mr. Broitman was Controller of Individual Investor Group, an online
and print media company, was Director of International Royalties for Bertelsmann
Music Group and worked in an audit capacity for both Deloitte Touche Tohmatsu
(formerly Touche Ross & Co.) and CBS Corporation.
Item
9.01Financial Statements and Exhibits.
(c) Exhibits.
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Exhibit
Number
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Description
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10.1
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Agreement
with Eric Ashman dated May 8, 2009
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SIGNATURE
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.
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THESTREET.COM, INC.
(Registrant) |
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By:
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/s/ TERESA
SANTOS |
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Teresa
Santos
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General
Counsel and Secretary
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EXHIBIT
INDEX
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Exhibit
Number
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Description
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10.1
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Agreement
with Eric Ashman dated May 8, 2009
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