Form 8-K for 3COM CORP
31-Mar-2008
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) Bonus Determination for Dr. Shusheng Zheng, Chief Operating Officer of H3C. On March 25, 2008, the Compensation Committee (the "Committee") of the Board of Directors of 3Com Corporation ("3Com") approved bonus payments for H3C's fiscal year 2007 for Dr. Zheng. The Committee approved a regular annual bonus payment of $309,100. In addition, under H3C's long term incentive plan, the Committee approved a payment of $500,000, payable over three years subject to continued employment. These bonuses were determined based on a variety of factors, including the Committee's review of specified business performance metrics for H3C's fiscal year 2007 and specific metrics for H3C's fourth quarter of 2007. The Committee also considered Dr. Zheng's contribution and individual performance.
ITEM 7.01 Regulation FD Disclosure
As required by its senior secured credit facility the Company made available to its senior secured bank lenders certain summary financial information concerning H3C. This financial data is attached hereto as Exhibit 99.1 and is hereby incorporated by reference into this Item 7.01. As described in Exhibit 99.1, the financial data set forth in Exhibit 99.1 differs from the H3C segment data published by the Company in its financial press releases.
The information in Item 7.01 of this Form 8-K and the exhibit attached hereto as Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
ITEM 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number Description
99.1 H3C - Summary Financial Information Provided to Bank Lenders
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