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):  February 3, 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 February 3, 2006, the Board of Directors of Iomega Corporation (“Iomega”) approved a recommendation of its Compensation Committee for the 2006 Iomega Incentive Bonus Plan and established bonus awards that may be earned by Iomega’s named executive officers: Messrs. Thomas Kampfer and Ronald Gillies, and Ms. Anna Aguirre and Ulrike Tegtmeier. The annual targets as a percentage of each executive officer’s base salary are as follows: Messrs. Kampfer (50%), Gillies (40%), and Ms. Aguirre and Tegtmeier (40%). The 2006 bonuses may be paid based on the achievement of certain company-wide operating income goals. The actual bonus payments may be less than or greater than the targeted amounts depending on whether and the extent to which the operating income goals are achieved. Under any circumstance, the bonus payments cannot exceed two times the individual targets.

 

 

 

 

 

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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 thereunto duly authorized.

Date: February 9, 2006

 

                

                                                                                                                               IOMEGA CORPORATION

                                                                                                                            (Registrant)

 

 

                                                                                                                              By: /s/ Thomas D. Kampfer                               

                                                                                                                                        Thomas D. Kampfer

                                                                                                                                        Chief Operating Officer and Interim Chief 

                                                                                                                                        Financial Officer

 

 

 

 

 

 

 

 

 

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