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): June 15, 2007
ARI NETWORK SERVICES, INC.
(Exact name of registrant as specified in its charter)
Wisconsin | 0-19608 | 39-1388360 |
11425 West Lake Park Drive, Suite 900 | 53224 |
Registrant’s telephone number, including area code: (414) 973-4300
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 5.02
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On June 15, 2007, the Company and Mr. Frederic Tillman entered into a severance agreement pursuant to which the Company agreed to provide, as severance, three months of regular base salary, reduced by any gross earnings Mr. Tillman may earn from other sources. In addition, the Company agreed to pay Mr. Tillman $59,543.75 in settlement and termination of his outstanding stock options. Mr. Tillman agreed to provide the Company with a general release and agreed for two years not to solicit for employment any Company employees or encourage any of them to terminate his/her employment with the Company.
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits
| Exhibit No. | Description |
| 10.1 | Severance Agreement dated June 15, 2007 by and between the Company and Frederic Tillman. |
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.
Date: June 21, 2007
ARI NETWORK SERVICES, INC.
By: /s/ Brian E. Dearing
Brian E. Dearing
Chairman and Chief Executive Officer
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EXHIBIT INDEX
Exhibit No | Description |
10.1 | Severance Agreement dated June 15, 2007 by and between the Company and Frederic Tillman. |
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