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Tremont Advisers Inc – ‘8-K’ for 8/14/00

On:  Tuesday, 8/15/00, at 1:43pm ET   ·   For:  8/14/00   ·   Accession #:  891554-0-2008   ·   File #:  0-27077

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 8/15/00  Tremont Advisers Inc              8-K:5,7     8/14/00    2:18K                                    Document Techs Inc/FA

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         3     12K 
 2: EX-10.68    Employment Agreement                                   6     26K 


8-K   —   Current Report
Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
2Item 5. Other Events
"Item 7. Financial Statements and Exhibits
8-K1st Page of 3TOCTopPreviousNextBottomJust 1st
 

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): August 14, 2000 TREMONT ADVISERS, INC. (Exact name of registrant as specified in its charter) Delaware 0-27077 06-1210532 (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 555 Theodore Fremd Avenue, Rye, New York 10580 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (914) 925-1140
8-K2nd Page of 3TOC1stPreviousNextBottomJust 2nd
ITEM 5. OTHER EVENTS On August 11, 2000, Tremont Advisers, Inc (the "Company") entered into an employment agreement (the "Agreement") with Barry Colvin, pursuant to which he will serve as the Chief Operating Officer of the Company. Mr. Colvin replaces Robert Schulman in this capacity. Mr. Schulman will continue to serve as the Company's President. The amended agreement expires on January 1, 2002. Mr. Colvin is entitled to a minimum base salary of $275,000 plus an annual bonus of at least $200,000 if he is employed by the Company on the date that the Company usually pays out annual performance bonuses. The Company may terminate the Agreement without cause at any time. In that event, Mr. Colvin will receive a severance allowance equal to the balance of the compensation due to him through December 31, 2001, less all amounts required to be withheld or deducted. Benefits and any other employee entitlements shall immediately cease as of the date of termination. In the event that Mr. Colvin voluntarily terminates his employment with the Company prior to January 1, 2002, he will pay the Company $50,000 as liquidated damages as recompense to the Company for the time, opportunity loss, and cost of securing his replacement, absence of continuity and adverse impact on customers and employees caused by his departure. This payment is to be made in full within fifteen days after his last day of employment. Mr. Colvin will receive 100,000 options subject to the terms of the Company's 1998 Stock Option Plan at the time when options are typically granted to other employees thereunder. Mr. Colvin has agreed that before December 31, 2000 he will purchase $25,000 worth of the Company's Class B Common Stock in the open market. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS Exhibit 10.68 Employment Agreement dated August 14, 2000 between the Company and Barry Colvin. -2-
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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. TREMONT ADVISERS, INC. Date: August 15, 2000 By: /s/ Stephen T. Clayton -------------------------------------- Stephen T. Clayton Chief Financial Officer and Administrative Officer (Duly authorized Officer and Principal Financial and Accounting Officer) -3-

Dates Referenced Herein   and   Documents Incorporated by Reference

Referenced-On Page
This ‘8-K’ Filing    Date First  Last      Other Filings
1/1/022
12/31/012
12/31/00210KSB,  4,  5
Filed on:8/15/003
For Period End:8/14/00123
8/11/00210QSB
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Filing Submission 0000891554-00-002008   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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