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
February
9, 2009
Date
of Report
(Date
of Earliest Event Reported)
SONOSITE,
INC.
(Exact
Name of Registrant as Specified in Charter)
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Washington
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0-23791
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91-1405022
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(State
or Other
Jurisdiction
of Incorporation)
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(Commission
File
No.)
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(IRS
Employer
Identification
No.)
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21919
30th Drive S.E., Bothell, Washington 98021-3904
(Address
of Principal Executive Offices) (Zip Code)
(425)
951-1200
(Registrant's
Telephone Number, Including Area Code)
None
(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 communication 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 240.13e4(c))
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Item 1.01
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Entry
into a Material Definitive Agreement
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On
February 9, 2009, the Compensation Committee of the Board of Directors of
SonoSite, Inc. ("Company") approved the Variable Incentive Bonus Plan (the
"Plan"), an incentive compensation program for fiscal year 2009, which is
designed to motivate, retain and reward the Company's executive officers
based on the achievement of specified financial objectives. The Plan's
terms are substantially similar to the FY2008 Variable Incentive Bonus
Plan that was filed on Form 8-K on February 12, 2008 except for the
specified financial objectives, which are specific to FY2009. Under the
Plan, awards may be made in cash or Company stock and are based on the
achievement of annual corporate revenue targets and annual corporate
operating profit targets approved by the Compensation
Committee.
Participants
eligible under the Plan are certain executive level employees designated
by the Compensation Committee, including President and CEO Kevin Goodwin,
and CFO Mike Schuh. Bonuses are calculated as a percentage of the
participant's base salary and in any event cannot exceed for any one
individual $5 million during fiscal year 2009. The Company has the
discretion to pay less than the full amount of any bonus otherwise earned
under the Plan. The attached Exhibit 10.1, incorporated herein by
reference, is the form of Plan so
approved.
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Item 9.01
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Financial
Statements and Exhibits
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Exhibit
No.
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Description
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10.1
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SonoSite,
Inc. FY2009 Variable Incentive Bonus
Plan
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2
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended,
SonoSite, Inc. has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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SONOSITE,
INC.
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Dated:
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February
12, 2009
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By:
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/s/ MICHAEL
J. SCHUH
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Michael
J. Schuh
Chief
Financial Officer
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3
EXHIBIT
INDEX
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ExhibitNumber
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Description
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10.1
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SonoSite,
Inc. FY2009 Variable Incentive Bonus
Plan
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4