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): June 13, 2007
BALLY TOTAL FITNESS HOLDING CORPORATION
(Exact name of registrant as specified in its charter)
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| Delaware
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001-13997
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36-3228107 |
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| (State or other jurisdiction
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(Commission
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(I.R.S. Employer |
| of incorporation)
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File Number)
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Identification No.) |
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| 8700 West Bryn Mawr Avenue, Chicago, Illinois
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60631 |
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| (Address of principal executive offices)
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(Zip Code) |
Registrant’s telephone number, including area code (773) 380-3000
N/A
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
BALLY TOTAL FITNESS HOLDING CORPORATION
FORM 8-K
Current Report
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| Item 5.02 |
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Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers; Compensatory
Arrangements of Certain Officers. |
On June 13, 2007, Bally Total Fitness Holding Corporation (“Bally” or the “Company”) entered
into a Confidential Settlement Agreement and Mutual General Release (the “McDonald Agreement”) with
James A. McDonald, who had been employed by the Company as its Senior Vice President and Chief
Marketing Officer since May 2, 2005, providing for the termination of Mr. McDonald’s employment
with the Company effective June 29, 2007. A copy of the McDonald
Agreement is attached as Exhibit 10.1 hereto and incorporated herein by reference.
Item 8.01 Other Events
On June 15, 2007, the Board of Directors (the “Board”) of the Company adopted a resolution
providing for a per meeting stipend for certain meetings attended by Board members between June 1,
2007 and September 30, 2007. The resolution instituted stipends of (a) $2,000 per Board member for each Board meeting
attended in person; (b) $1,000 per Board member for each Board meeting attended telephonically; and
(c) $1,000 per member of the Company’s Audit Committee for each Audit
Committee meeting attended. The action was in recognition of the increased time
commitment required of Board members due to the Company’s
restructuring and complexities associated with completion and audit of
the Company’s 2006 financial statements. Mr. Kornstein is not
eligible to receive these stipends during the period he served as
Chief Restructuring Officer of the Company. Mr. Elfon is not eligible
to receive these stipends during the period he is providing management
consulting services to the Company.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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Confidential Settlement Agreement and Mutual General Release by and between James A. McDonald
and the Company. |
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.
BALLY TOTAL FITNESS HOLDING CORPORATION