000-51598 | 77-0259335 | |
(Commission File Number) | (IRS Employer Identification No.) |
63 South Avenue, Burlington, Massachusetts | 01803 | |
(Address of Principal Executive Offices) | (Zip Code) |
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||||||
SIGNATURES |
(b) | On January 23, 2007, Gregory F. White resigned his position as the president of the Home Robots division of iRobot Corporation (the Company). The resignation as an officer will be effective immediately. The Company and Mr. White have agreed that Mr. White will remain employed by the Company, and serve as a special advisor, until March 26, 2007. |
(e) | On January 23, 2007, the Company entered into a separation agreement with Gregory F. White setting forth the terms of Mr. Whites resignation as president of iRobot Home Robots. Pursuant to the separation agreement, Mr. White will resign as president of the Companys Home Robots division and as an executive officer of the Company and will assume the role and title of special advisor at an annual base salary of $125,000.00. The separation agreement also provides, among other things, the following: (i) an extension of Mr. Whites noncompetition and nonsolicitation obligations to the Company pursuant to the noncompetition and nonsolicitation agreement between the Company and Mr. White; (ii) the repurchase by the Company of any unvested shares of restricted stock held by Mr. White upon the termination of his employment with the Company; and (iii) a general release by Mr. White. Mr. Whites invention and confidentiality agreement with the Company and non-competition and non-disclosure agreement with the Company (as amended by the separation agreement) will survive Mr. Whites employment with the Company. |
iRobot Corporation |
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January 23, 2007 | By: | /s/ Glen D. Weinstein | ||
Glen D. Weinstein | ||||
General Counsel and Secretary | ||||