UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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 27, 2005
CURATIVE HEALTH SERVICES, INC.
(Exact name of registrant as specified in its charter)
Minnesota 000-50371 51-0467366
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification Number)
150 Motor Parkway
Hauppauge, New York 11788-5145
(Address of principal executive offices) (zip code)
(631) 232-7000
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
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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:
[ ] 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))
Item 1.01 Entry into a Material Definitive Agreement
Stay Bonus Agreement - Thomas Axmacher
On May 27, 2005, Curative Health Services, Inc. (the "Company") executed a
compensation agreement (the "Agreement") with Thomas Axmacher, the Company's
Chief Financial Officer.
Pursuant to the Agreement, Mr. Axmacher will be entitled to receive a stay bonus
of $100,000 in cash ("Stay Bonus") contingent on his relocation to Nashua, New
Hampshire, in connection with the pending move of the Company's headquarters,
and his continued residence there through October 31, 2006. The bonus is also
contingent upon the satisfaction of certain other requirements including the
successful consolidation of the Company's finance functions in Nashua, the
timely filing of the Company's Form 10-K for the year ended December 31, 2005
and the receipt of unqualified reports from the Company's auditors for 2005. The
stay bonus will be paid no later than October 31, 2006, and will be reduced by
the amount of any performance-based cash incentive payment made to Mr. Axmacher
with respect to 2005. Mr. Axmacher also agreed that in the event of a breach by
him of any of the covenants set forth in his employment agreement previously
filed, the Company would be entitled to offset any amounts contemplated in the
Agreement in addition to any and all other available remedies.
The provisions of Mr. Axmacher's employment agreement, as amended or modified
from time to time, remain in full force and effect and are not modified in the
Agreement.
Signature
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.
CURATIVE HEALTH SERVICES, INC.
Date: June 3, 2005 By: /s/ Thomas Axmacher
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Thomas Axmacher
Chief Financial Officer