UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 27, 2006
IMMERSION CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware 000-27969 94-3180138
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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801 Fox Lane
San Jose, California 95131
(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code: (408) 467-1900
Not Applicable
(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))
Item 1.01 Entry into a Material Definitive Agreement.
Michael Zuckerman, formerly the Company's Senior Vice President and General
Manager of the Industrial Group, agreed on March 27, 2006, to be the Senior Vice
President and General Manager of the 3D Business Group (the "3D Group") for
Immersion Corporation, a Delaware corporation (the "Company"). In his new
position, Mr. Zuckerman will receive an annual salary of $200,000 and be
entitled to quarterly bonuses calculated as a percentage of the operating profit
of the 3D Group. In addition, in the event that Mr. Zuckerman is terminated from
this position without cause, Mr. Zuckerman is entitled to (i) twelve months of
continued salary, at the end current salary rate, (ii) twelve months of
additional vesting on his stock options, and (iii) provided that Mr. Zuckerman
elects to purchase group health insurance in accordance with federal law
("COBRA"), the Company shall pay the premiums for such COBRA coverage for twelve
months.
A copy of Mr. Zuckerman's offer letter is attached hereto as Exhibit 10.63.
A copy of Mr. Zuckerman's Variable Compensation Plan is attached hereto as
Exhibit 10.64.
Item 9.01 Financial Statement and Exhibits.
(d) Exhibits.
Exhibit Number Exhibit Title or Description
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10.63 Offer letter between the Company and Mr. Zuckerman
dated March 27, 2006.
10.64 Variable Compensation Plan dated March 27, 2006 by and
between Immersion Corporation and Michael Zuckerman.
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
IMMERSION CORPORATION
Date: March 31, 2006 By: /s/ Stephen M. Ambler
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Stephen M. Ambler
Chief Financial Officer and
Vice President, Finance
EXHIBIT INDEX
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Exhibit No. Description
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10.63 Offer letter between the Company and Mr. Zuckerman dated
March 27, 2006
10.64 Variable Compensation Plan dated March 27, 2006 by and
between Immersion Corporation and Michael Zuckerman.