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): March 31,
2008
______________
ACACIA
RESEARCH CORPORATION
(Exact
name of Registrant as Specified in its Charter)
|
Delaware
(State
or Other Jurisdiction of
Incorporation)
|
000-26068
(Commission
File
Number)
|
95-4405754
(I.R.S.
Employer Identification
No.)
|
500
Newport Center Drive,
Newport
Beach, California 92660
(Address
of Principal Executive Offices) (Zip Code)
(949)
480-8300
Registrant's
telephone number, including area code
(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
230.425)
[ ]
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))
Section
5 - Corporate Governance and Management
Item
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Effective
March 31, 2008, we entered into the following new and amended employment
agreements with the following named executive officers:
1. Employment
Agreement with Paul Ryan, Chief Executive Officer (principal executive
officer);
2. Employment
Agreement with Robert L. Harris, President; and
3. Amended
Employment Agreement with Clayton J. Haynes, Chief Financial Officer, Sr. Vice
President of Finance and Treasurer (principal financial officer).
Paul L.
Ryan is employed as Chief Executive Officer with an annual salary of
$337,910. Robert L. Harris is employed as President with an annual
salary of $331,834. Clayton J. Haynes, is employed as Chief Financial Officer,
Sr. Vice President of Finance and Treasurer with an annual salary of
$253,000.
All of
the foregoing agreements provide that either party may terminate his agreement
for any reason upon thirty (30) days advance notice. Upon termination
without cause, the executive officer will be eligible for payment pursuant to
our then effective severance plan, if any. Our current severance plan
is disclosed on pages 25 and 26 of the Preliminary Proxy Statement filed with
the Commission on March 26, 2008, under the title “Potential Payments Upon
Termination or Change in Control” incorporated herein by
reference. In addition, the executive officer is eligible for an
annual discretionary cash bonus of up to thirty percent (30%) of his base
salary. The cash bonus will be determined by the Compensation
Committee upon consideration of personal performance, overall company
performance and any other factors that the Compensation Committee elects to
consider.
In
addition, we entered into an Addendum to Employment Agreement with Edward
Treska, Corporate Secretary, to add to his agreement that he is eligible for an
annual discretionary cash bonus of up to thirty percent (30%) of his base
salary. The cash bonus will be determined by the Compensation
Committee upon consideration of personal performance, overall company
performance and any other factors that the Compensation Committee elects to
consider.
Section
9 - Financial Statements and Exhibits
Item
9.01 Financial Statements and Exhibits
| (d) |
Exhibits |
| |
|
|
10.1
|
Employment
Agreement with Paul Ryan.
|
|
10.2
|
Employment
Agreement with Robert L. Harris.
|
|
10.3
|
Amended
Employment Agreement with Clayton J.
Haynes.
|
|
10.4
|
Addendum
to Employment Agreement with Edward
Treska.
|
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 hereunto
duly authorized.
| |
ACACIA
RESEARCH CORPORATION |
|
| |
|
|
|
|
Date: April
2, 2008
|
By:
|
/s/ Paul
R. Ryan |
|
| |
|
Name: Paul
R. Ryan |
|
| |
|
Title:
Chairman and Chief Executive Officer |
|
| |
|
|
|
3