Tier Technologies Inc - Current report filing (8-K)
01 January 2008 - 6:44AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 21, 2007
TIER TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
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Delaware
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000-23195
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94-3145844
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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10780 Parkridge Blvd.,
4
th
Floor
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20191
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Reston, Virginia
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(Zip Code)
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(Address of principal executive offices)
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(571) 382-1000
(Registrants telephone number, including area code)
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CRF 240.14a-12)
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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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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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On December 21, 2007, the Compensation Committee of the Board of Directors of Tier Technologies,
Inc. (Tier or the Company) passed a resolution to pay $446,154.60 to Ronald L. Rossetti,
President and Chief Executive Officer of the Company. Mr. Rossettis most recent employment
agreement expired on May 25, 2007. The $446,154.60 represents the compensation that Mr. Rossetti
would have received if the Company had extended that agreement through December 14, 2007. Tier
paid this amount to Mr. Rossetti to compensate him for a longer-than-anticipated length of time
needed to negotiate a new employment agreement.
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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TIER TECHNOLOGIES, INC.
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By:
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/s/ David E. Fountain
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Name:
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David E. Fountain
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Date: December 31, 2007
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Title:
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Chief Financial Officer
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