Form 8-K Dated July 1, 2006 (Adoption of Deferred Compensation Plan)
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
July 1,
2006
Date
of
Report (Date of earliest event reported)
Huron
Consulting Group Inc.
(Exact
name of registrant as specified in its charter)
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Delaware
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000-50976
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01-0666114
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation or organization)
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File
Number)
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Identification
Number)
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550
West Van Buren Street
Chicago,
Illinois
60607
(Address
of principal executive offices)
(Zip
Code)
(312)
583-8700
(Registrant’s
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:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
1.01.
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Entry
into a Material Definitive
Agreement.
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Effective
July 1, 2006, the board of directors of Huron Consulting Group Inc. (the
“Company”) adopted the Huron Consulting Group Deferred Compensation Plan (the
“Plan”). Under the Plan, members of the board of directors and a select group of
employees of the Company and its subsidiaries (the “Participants”) may elect to
defer the receipt of their director retainers and meeting fees or base salary
and bonus, as applicable. The Plan allows the Participants to delay federal
and
state income taxation on the compensation that they elect to defer.
The
Plan
permits the deferral of 5% to 75% of a Participant’s base salary, 10% to 100% of
a Participant’s bonus (performance-based and non performance-based), and 0% to
100% of a Participant’s director fees. Generally, for each succeeding plan year,
a Participant must elect his or her deferral of base salary, non
performance-based bonus, or director fees before December 31st
of the
preceding year in which such compensation is earned. For deferrals of
performance-based compensation, a Participant must elect his or her deferral
no
later than six months before the end of the performance service period. A
bookkeeping account will be established for each Participant and his or her
deferred compensation will earn a return based on measurement funds made
available to and selected by the Participant. Participant deferrals and interest
credited or debited to the Participant’s account are fully vested.
Additionally,
the Company may credit amounts to a Participant’s deferred compensation account
in accordance with employment or other agreements entered into between the
Company and the Participant. The Company, at its sole discretion, may, but
is
not required to, credit any additional amount it desires to any Participant
deferred compensation account. Amounts credited by the Company are subject
to
vesting schedules set forth in the Participant’s Plan agreement, employment
agreement or any other agreement entered into between the Company and the
Participant.
Distributions
from a Participant’s account will automatically begin upon a Participant’s
retirement, termination of employment, disability or death during employment,
subject to a six-month waiting period for key employees. Additionally, a
Participant may irrevocably elect to receive a scheduled in-service
distribution, in the form of a lump sum payment, from the Plan with respect
to
all or a portion of his or her annual deferrals. Such scheduled distribution
must be at least three years after the end of the plan year in which the
deferrals were originally made.
A
copy of
the Plan is filed as Exhibit 10.1 to this Current Report and is incorporated
in
this report as if fully set forth herein.
Item
9.01. Financial
Statements and Exhibits.
(d) Exhibits
10.1
Huron
Consulting
Group Deferred Compensation Plan.
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.
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Huron
Consulting Group Inc.
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(Registrant)
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Date:
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July 6,
2006
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/s/
Gary L. Burge
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Gary
L. Burge
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Vice
President,
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Chief
Financial Officer and
Treasurer
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