Business Context and Reporting Period
This Form 8-K Current Report was filed by Fidelity National Information Services, Inc. on June 7, 2010, covering an event dated June 1, 2010. The filing addresses Item 5.02 regarding the departure of certain officers and the appointment of certain officers.
Key Financial Metrics
The filing does not provide general financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial data disclosed relates to the specific compensatory arrangement for George P. Scanlon:
- Base Salary: $12,000 per year.
- 2010 Incentive Bonus Target: 150% of $450,000, multiplied by 50% (representing the partial year worked).
- 2010 Incentive Bonus Maximum: 300% of $450,000, multiplied by 50%.
Material Changes
Effective June 1, 2010, George P. Scanlon ceased serving as Corporate Executive Vice President, Finance. He entered into an Amended and Restated Employment Agreement to serve as a non-executive employee for a term of four years. This agreement supersedes the Prior Agreement dated May 1, 2008, as amended on September 30, 2009.
Outlook, Risks, and Management Commentary
Mr. Scanlon remains eligible for the Company's annual incentive plan for 2010, with performance objectives established by the Board of Directors or the Compensation Committee. He will also continue to participate in the Metavante merger synergy plan. The filing does not disclose specific risks, contingencies, or unusual items beyond the executive transition.
Key Facts for Investor Verification
- George P. Scanlon's transition from Corporate Executive Vice President, Finance to a non-executive role effective June 1, 2010.
- The specific terms of the new four-year employment agreement, including the reduced base salary of $12,000.
- The calculation methodology for Mr. Scanlon's 2010 bonus, which is prorated for the partial year of full-time work.
- Continued participation in the Metavante merger synergy plan.