-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IuVlWskwvCUIE2iOrrnDIUNQfnIjGLvuNRWrSvduq0ht46qyC4aYtQq43anSmC14 sGM3IAldRNibpoZEXljQGA== 0000893220-08-001051.txt : 20080410 0000893220-08-001051.hdr.sgml : 20080410 20080410170228 ACCESSION NUMBER: 0000893220-08-001051 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080404 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20080410 DATE AS OF CHANGE: 20080410 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEDQUIST INC CENTRAL INDEX KEY: 0000884497 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 222531298 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-19941 FILM NUMBER: 08750534 BUSINESS ADDRESS: STREET 1: 1000 BISHOPS GATE BLVD STREET 2: SUITE 300 CITY: MOUNT LAUREL STATE: NJ ZIP: 08054-4632 BUSINESS PHONE: 8568108000 MAIL ADDRESS: STREET 1: 1000 BISHOPS GATE BLVD STREET 2: SUITE 300 CITY: MOUNT LAUREL STATE: NJ ZIP: 08054-4632 8-K 1 w54421e8vk.htm FORM 8-K e8vk
 

 
 
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 4, 2008
MedQuist Inc.
(Exact Name of Issuer as Specified in Charter)
         
New Jersey
(State or Other Jurisdiction of
Incorporation or Organization) 		  0-19941
(Commission File Number) 		  22-2531298
(I.R.S. Employer Identification
Number)
     
1000 Bishops Gate Blvd., Suite 300    
Mt. Laurel, New Jersey   08054
(Address of Principal Executive Offices)   (Zip Code)
(856) 206-4000
(Registrant’s Telephone Number, Including Area Code)
(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:
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))
 
 

 

 

Item 5.02.   Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
     On April 4, 2008, the Board of Directors (the “Board”) of MedQuist Inc. (the “Company”) approved the Company’s 2008 Management Incentive Plan (the “Bonus Plan”). The Bonus Plan is substantially similar to the 2007 Management Incentive Plan described in the Company’s proxy statement filed with the SEC on December 17, 2007. Payouts under the Bonus Plan are based on each participant’s performance as well as the achievement of certain Company financial goals. The Company financial goals established by the Bonus Plan, though not guaranteed, are capable of being achieved if eligible participants meet or exceed their individual performance objectives, the Company performs according to its 2008 operating plan and the assumptions in the Company’s 2008 operating plan are proven correct.
     The 2008 base salary and the potential amount that could be earned by each of our named executive officers participating in the Bonus Plan (expressed as a percentage of base salary) is set forth in the table below:
             
        Potential    
        Incentive   2008 Base
Name   Title   Compensation   Salary
Kathleen Donovan
   Senior Vice President, Chief Financial Officer   45%   $386,250
 
            
R. Scott Bennett
   Senior Vice President, Sales and Marketing   45%   $247,200
 
            
Mark Ivie
   Chief Technology Officer   45%   $237,930
 
     Our other named executive officers (Howard Hoffmann and Frank Lavelle) do not participate in the Bonus Plan. Mr. Hoffmann is an employee of Nightingale and Associates, LLC (“Nightingale”). Nightingale provides management consulting services to the Company. Any incentive compensation related to the services provided by Mr. Hoffmann as our Chief Executive Officer and President is addressed in the Company’s agreement with Nightingale, which is an exhibit to the Company’s Annual Report on Form 10-K for the year ended December 31, 2007. Mr. Lavelle is no longer employed by the Company and therefore not eligible to participate in the Bonus Plan.

 

 

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.
         
  MedQuist Inc.
 		  
Date: April 10, 2008  By:   /s/ Mark R. Sullivan    
    Mark R. Sullivan   
    General Counsel, Chief Compliance Officer
and Secretary 		  
 

 

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