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: March 20, 2008
Simtek Corporation
(Exact Name of Registrant as Specified in
Charter)
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|
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Delaware
(State or other jurisdiction
of incorporation)
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0-19027
(Commission
File Number)
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84-1057605
(IRS Employer
Identification #)
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4250 Buckingham Dr. #100, Colorado Springs, CO
80907
(Address of Principal Executive
Office)
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(719) 531-9444
(Registrants telephone number, including
area code)
[ ]
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))
Item
1.01
Entry
into a Material Definitive Agreement
On
March 20, 2008, Simtek Corporation (the Company) entered into a Change of
Control Agreement (the Agreement) with Brian Alleman, the Companys Chief
Financial Officer and Secretary. The Company entered into the Agreement
with Mr. Alleman in order to better assure that Mr. Alleman will remain with the
Company and in order to diminish any distractions or personal uncertainties that
Mr. Alleman might face in light of the Companys position. The Agreement,
which has a term of one year, provides generally that, if the Company undergoes
a change of control and if, within 12 months following such change of control,
Mr. Alleman is terminated by the Company (other than for cause), then the
Company shall continue to pay Mr. Alleman his base salary for whatever length of
time is remaining (starting from the date of termination) until the expiration
of 12 months from the date of the change of control. In addition, the
Company entered into an Addendum with Mr. Alleman that provides generally that,
if Mr. Alleman is still employed by the Company on the date that is one year
from the date of the Agreement, and if the Company has not undergone a change of
control prior to such date, then the Company shall pay Mr. Alleman a cash bonus
of approximately $56,000. A copy of the Agreement is included herewith as
Exhibit 10.1.
Item
9.01
Financial
Statements and Exhibits
(d)
Exhibits
Exhibit
Number
Description
10.1
Change
of Control Agreement, dated March 20, 2008, by and between the Company and Brian
Alleman.
2
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.
SIMTEK CORPORATION
By:
/s/Harold Blomquist
Harold
Blomquist,
Chief Executive Officer
March
21, 2008
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EXHIBIT INDEX
Exhibit
Number
Description
10.1
Change
of Control Agreement, dated March 20, 2008, by and between the Company and Brian
Alleman.
4