It appears the 8-K amends employment agreements for termination provisions for the top executives. (IMO) It's in preparation for the coming restructure step and final buyout step by Chaudhuri and Silver Point, as suggested in 13-D/As filed in September. I'd compare this to the similar signal of prelude to buyout negotiations in the filing last June that withdrew the S-8. Note the change to 30 days notice for termination.
On watch for the 8-K on Step 1 inclusive of any restructure (similar to April 2010) that might signal the final buyout price, e.g. new and/or repriced warrants.
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