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:
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June
8, 2009
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(Date
of earliest event reported)
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(June
2, 2009)
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Multimedia
Games, Inc.
(Exact
name of Registrant as Specified in its Charter)
000-28318
(Commission
File Number)
Texas
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74-2611034
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(State
or other jurisdiction
of
incorporation)
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(IRS
Employer
Identification
No.)
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206
Wild Basin Road South, Bldg. B, Suite 400,
Austin,
Texas
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78746
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (512) 334-7500
(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):
¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act 17 CFR
240.14d-2(b))
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¨
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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 Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements
of Certain Officers.
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The Bonus
Plan is comprised of two components, each of which represents fifty percent of
the overall target bonus opportunity: (i) individual management objectives
set by the participant’s manager, or set by the Board in the case of Anthony
Sanfilippo, the Company’s President and Chief Executive Officer; and (ii) a
financial component which will be based on an EBITDA and, in certain cases, a
cash flow target achieved by the Company as adjusted for certain non-cash and
extraordinary items.
Bonuses
for named executive officers are consistent with the bonus structure set forth
in each of the previously filed employment agreements between the Company and
its officers and are payable after fiscal year-end and after confirmation of
achieved targets by the Committee. The Committee retains the
discretion to modify or adjust financial targets and bonus objectives based on
its business judgment. A partial pro-rata cash bonus will be paid if
the Company achieves a minimum annualized performance threshold and participants
are eligible to receive up to 200% of their bonus objectives if the Company
exceeds the defined annualized performance goals.
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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MULTIMEDIA
GAMES, INC.
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Dated: June
8, 2009
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By:
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/s/
Uri L. Clinton
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Uri
L. Clinton
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Senior
Vice President, General Counsel and Corporate
Secretary
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