UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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)
September 25, 2009
AMKOR TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
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DELAWARE
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000-29472
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23-1722724 |
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(State or Other Jurisdiction of
Incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.) |
1900 SOUTH PRICE ROAD
CHANDLER, AZ 85286
(Address of Principal Executive Offices, including Zip Code)
(480) 821-5000
(Registrants telephone number, including area code)
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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ITEM 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers.
(e) Pursuant to a succession plan for senior management approved by the Board on June 25, 2009,
James Kim, the Founder and former Chief Executive Officer of the company, has become Executive
Chairman of the Board of Directors and Ken Joyce has assumed the position of Chief Executive
Officer and President and has joined the companys Board of Directors, effective October 1, 2009.
Additional information regarding the foregoing is contained in the press release attached hereto as
Exhibit 99.1.
In connection with Mr. Joyces promotion to Chief Executive Officer, the Compensation Committee has
increased Mr. Joyces annual base salary to $675,000 beginning on October 1, 2009, and subject to
the terms of the companys executive incentive bonus plan, Mr. Joyces target
bonus for 2010 will be 125% of his base salary. Mr. Kim's annual base salary has been reset to $600,000 and his bouns target for 2010 will be 662/3% of his base salary.
Additionally,
as previously disclosed, in January 2009 the company instituted a 10% reduction in
the base salaries for all of the companys U.S. payroll employees, including its U.S. payroll named
executive officers, in response to the economic downturn. On September 25, 2009, the Compensation
Committee approved the restoration of the 10% cut in base salaries for all of the companys U.S.
payroll employees, including its U.S. payroll named executive officers, beginning October 1, 2009.
ITEM 8.01. Other Events.
As previously disclosed, on February 3, 2009 the Board decreased the annual retainer for Board
members by 10%. On September 25, 2009, the Compensation Committee of the Board restored the
annual retainer to its previous level of $50,000, commencing on October 1, 2009.
ITEM 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 |
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Text of Press Release dated October 1, 2009, which is filed herewith. |
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