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):  April 19, 2006

 

IOMEGA CORPORATION

(Exact Name of Registrant as Specified in its Charter)

 

 

     Delaware                                                                         1-12333                                             86-0385884

(State or Other Jurisdiction                                                        (Commission                                        (IRS Employer

of Incorporation)                                                          File Number)                                     Identification No.)

 

 

10955 Vista Sorrento Parkway, San Diego, CA                                                                                       92130

(Address of Principal Executive Offices)                                                                                                    (Zip Code)

 

 

(858) 314-7000

(Registrant’s Telephone Number, Including Area Code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions.

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

 

(17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

 

(17 CFR 240.13e-4(c))

 

 

 


 

 

SECTION 1 – REGISTRANT’S BUSINESS AND OPERATIONS

 

Item 1.01

Entry Into a Material Definitive Agreement

 

On April 19, 2006, Iomega Corporation (“Iomega”) entered into a Separation Agreement and General Release with former Vice President and General Manager, Americas, Ronald J. Gillies. Pursuant to that Agreement, Mr. Gillies will receive nine months of base salary in connection with his separation and severance (this sum is based upon Mr. Gillies’ employment agreement and separation provisions therein); Mr. Gillies’ last working day was March 24, 2006. In the Agreement, Mr. Gillies has released Iomega of any and all claims in connection with his departure from Iomega. Mr. Gillies will also be eligible for a payment that is the equivalent of COBRA benefits for 9 months, as well as executive outplacement.

 

 


 

 

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.

Date: April 24, 2006

 

                

                                                                                                                              IOMEGA CORPORATION

                                                                                                                           (Registrant)

 

 

                                                                                                                              By: /s/ Thomas D. Kampfer                                  

                                                                                                                                   Thomas D. Kampfer

                                                                                                                                    President and Chief Operating Officer