Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. David Barnes On February 6, 2014 , CSG Systems International, Inc. ("CSG") announced that David Barnes has joined CSG's Board of Directors. The Revised By-Laws of CSG Systems International, Inc. ("Revised By-Laws") provide for its Board of Directors to be divided into three classes, each class having a three-year term. Mr. Barnes will be a member of the Class II directors, with a term of office to continue until the annual meeting of stockholders of CSG to be held on May 21, 2014 . Mr. Barnes will also serve on the audit committee. In conjunction with Mr. Barnes appointment, the CSG Board of Directors approved a form of Indemnification Agreement between CSG and Mr. Barnes , effective February 6, 2014 . Under the indemnification agreement, CSG would indemnify Mr. Barnes to the fullest extent permitted by law against all expenses incurred if he were to become party to civil, criminal, administrative, investigative or other actions related to his services as a director of CSG. A copy of CSG's standard indemnification agreement has been previously filed with the SEC . Mr. Barnes does not have any family relationships with any executive officer or director of CSG or its affiliates. He is not a party to any transaction requiring disclosure under Item 404(a) of Regulation S-K. Mr. Barnes will receive the standard director compensation arrangement including an annual fee of $75,000 and an annual restricted stock award. The annual restricted stock award, which shall vest in its entirety on the first anniversary of the grant date, has traditionally been determined and granted in the third quarter of each year, following Compensation Committee approval. A copy of CSG's press release announcing Mr. Barnes' appointment, dated February 6, 2013 , is attached hereto as Exhibit 99.1 and is hereby incorporated by reference. Item 9.01 Financial Statements and Exhibits. (d) Exhibit 99.1 Press release of CSG Systems International, Inc. dated February 6, 2014 . 2 --------------------------------------------------------------------------------
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- U.S. to Relinquish Gov't Control Over Internet
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Will Missing Malaysian Jet Prompt Aviation System Change?