FORM 8-K
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): December
7, 2007 (December 3, 2007)
ISLE
OF CAPRI CASINOS, INC.
(Exact
name of Registrant as specified in its charter)
Delaware
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0-20538
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41-1659606
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(State
or other
jurisdiction
of incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
Number)
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600
Emerson Road, Suite 300, St. Louis, Missouri
(Address
of principal executive offices)
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63141
(Zip
Code)
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(314) 813-9200
(Registrant's
telephone number, including area code)
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:
[
]
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.245)
[
]
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
5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On December
3, 2007, Isle of Capri Casinos, Inc. (the “Company”) entered into an Employment
Agreement with Dale R. Black, which provides that Mr. Black will serve as the
Company’s Chief Financial Officer. Mr. Black is expected to assume his new
position with the Company on or about December 17, 2007. His appointment is
subject to regulatory approval. Mr. Black succeeds Donn Mitchell as the
Company’s Chief Financial Officer. Mr. Mitchell has assumed the position of
Senior Vice President of United Kingdom Operations, and will cease being the
Company’s Chief Financial Officer upon the commencement of Mr. Black’s
employment.
Mr.
Black, age [43], has served as Executive Vice President and Chief Financial
Officer of Trump Entertainment Resorts, Inc. since November 2005. Prior to
joining Trump Entertainment Resorts, Mr. Black spent over twelve years at Argosy
Gaming Company in Alton, Illinois, serving as Corporate Controller from 1993
to
1998 and then as Senior Vice President and Chief Financial Officer from 1998
until November 2005.
A
copy of
the Company's employment agreement with Mr. Black dated December 3, 2007 (the
"Employment Agreement"), which becomes effective upon the commencement of his
employment with the Company and which describes the terms of Mr. Black’s
employment with the Company, is attached to this Form 8-K as Exhibit 10.1 and
is
incorporated herein by this reference. The following is a summary of Mr. Black's
compensation, as provided in the Employment Agreement:
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Base
salary of $400,000 per year;
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· |
Eligibility
to receive an annual cash bonus beginning in fiscal 2008 based on
the
achievement of performance targets set by the Compensation Committee
of
the Board of Directors of the Company, provided that Mr. Black shall
receive a minimum annual bonus equal to at least 60% of his base
salary if
he meets the minimum targets.
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· |
An
initial stock option grant of 125,000 shares, vesting 20% per year
on the
first, second, third, fourth and fifth anniversaries of the grant
date.
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· |
Eligibility
to participate in the Company’s 2000 Long-Term Stock Incentive Plan and
other stock option plans, if any, established by the Company, to
the
extent that similarly situated executives of the Company participate
in
such plans.
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· |
Reimbursement
for reasonable and necessary out-of-pocket in connection with the
performance of his duties.
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· |
Eligibility
to participate in the Company's benefit plans or programs as are
or may be
made generally available to employees of the Company and those made
available to officers of the Company.
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Item
9.01. Financial Statements and Exhibits.
(c)
Exhibits.
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 thereunto
duly authorized.
ISLE
OF CAPRI CASINOS, INC.
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Date:
December 7, 2007
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By:
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/s/VIRGINIA
MCDOWELL
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Name:
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Virginia
McDowell
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Title:
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President
and Chief Operating Officer
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EXHIBIT
INDEX
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Exhibit
No.
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Description
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