Unassociated Document
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)
May
17, 2005
CEVA,
INC.
(Exact
name of registrant as specified in its charter)
|
State
of Delaware |
|
000-49842 |
|
77-0556376 |
|
(State
or other jurisdiction of incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer
Identification
No.) |
2033
Gateway Place, Suite 150
San
Jose, CA 95110
(Address
of principal executive offices, including zip code)
(408)
514-2900
(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 (see General Instruction A.2. below):
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ]
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 May
17, 2005, the Registrant entered into a Separation Agreement and Release (the
“Release”) with
Chester J. Silvestri related to the cessation of his employment with the
Registrant. The terms of the Release are the same terms as contained in the
Letter Agreement between the Registrant and Mr. Silvestri dated June 2, 2003.
According to such Letter Agreement and the Release, in consideration of Mr.
Silvestri signing a waiver and release of claims, the Registrant agreed to
continue to pay Mr. Silvestri’s salary at the rate of $25,000 per month less
applicable withholdings for a maximum period of nine months or until Mr.
Silvestri obtains new employment, whichever period is shorter. The Registrant
also agreed to provide Mr. Silvestri with COBRA coverage for approximately the
same period of time.
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.
| |
|
CEVA,
INC. |
| |
|
|
| |
By: |
/s/ Yaniv Arieli |
|
| |
|
Yaniv
Arieli
Chief
Financial Officer |
Date:
May
23, 2005