8-K 1 htm_30665.htm LIVE FILING COMSYS IT PARTNERS, INC. (Form: 8-K)  

 


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):   January 1, 2009

COMSYS IT PARTNERS, INC.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 000-27792 56-1930691
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
4400 Post Oak Parkway, Suite 1800, Houston, Texas   77027
_________________________________
(Address of principal executive offices)
  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   (713) 386-1400

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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective January 1, 2009, COMSYS IT Partners, Inc. (the "Company") amended the employment agreements of the Company’s five named executive officers. These amendments primarily consisted of revisions to the various compensation provisions in effect for the named executive officers under their respective employment agreements to bring them into compliance with the applicable requirements of Section 409A of the Internal Revenue Code and the Treasury Regulations issued thereunder.

Additionally, the Company’s Compensation Committee approved the following equity grants under the Company’s Amended and Restated 2004 Stock Incentive Plan effective January 2, 2009:

1. Equity grants of 85,000; 50,000; 30,000; 30,000; and 22,500 restricted shares for Messrs. Enterline, Barker, Kerr, Bramlett and Bobbitt, respectively. These shares are 100% performance-based, and will vest (if at all) at the end of the three-year period ending December 31, 2011, based on the Company’s earnings per share ("EPS") growth as against the BMO staffing stock index during the three-year period. The shares will fully vest if the Company’s EPS growth is in the top 25% of the index. The shares will vest 50% or 25% if the Company’s EPS growth is in the second 25% or third 25% of the index, respectively. No shares will vest if the Company’s EPS growth is in the bottom 25% of the index. The vesting percentages will be prorated within individual tiers, except that no shares will vest for EPS growth in the bottom tier.






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.

         
    COMSYS IT PARTNERS, INC.
          
January 5, 2009   By:   Amy Bobbitt
       
        Name: Amy Bobbitt
        Title: Senior Vice President and Chief Accounting Officer