Cascade Financial Corp - Current report filing (8-K)
16 Januar 2008 - 10:53PM
Edgar (US Regulatory)
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): January 16,
2008
CASCADE
FINANCIAL CORPORATION
(Exact
Name of Registrant as Specified in Charter)
Washington
|
000-25286
|
91-1661954
|
State
of other jurisdiction of incorporation
|
(Commission
File Number)
|
(IRS
Employer Identification Number)
|
|
2828
Colby Avenue, Everett, WA 98201
|
(Address
of principal executive offices, including Zip Code)
|
|
(425)
339-5500
|
(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:
[
]
Written communications pursuant to Rule 425 under the Section 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.
|
Cascade
Bank, a subsidiary of Cascade Financial Corporation, has adopted the Cascade
Bank Non-Qualified Deferred Compensation Plan (the “Plan”) dated February 1,
2008. The Plan is an unfunded, non-qualified deferred compensation
plan designed to provide a select group of non-employee directors, management
and highly compensated employees of Cascade Bank, and its affiliates, an
opportunity to defer a portion of their salary and bonus. Cascade Bank may
also, in its sole discretion, make contributions to accounts on behalf of any
and all eligible persons.
Item
1.02 Termination
of a Material Definitive Agreement.
Effective
upon the effectiveness of the Plan described under Item
1.01 above, Cascade Bank terminated the Cascade Bank
Deferred Compensation Plan (the “Terminated Plan"). Cascade Bank was
required to adopt the Terminated Plan as a condition of its acquisition of
Issaquah Bancshares, Inc. (“Issaquah”), which was consummated on June 4, 2004.
The Terminated Plan satisfied a requirement of the former Issaquah chief
executive officer’s employment agreement which was assumed in connection with
the transaction. The Terminated Plan previously was filed as Exhibit 99.1 to
Cascade Financial Corporation’s Form 8-k filed December 21, 2004.
Item
9.01
|
Financial
Statements and Exhibits
|
10.1
|
Cascade
Bank Non-Qualified
Deferred Compensation Plan
|
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 thereunto
duly authorized.
Dated: January
16, 2008
By:
/s/ Carol
K. Nelson
Carol
K.
Nelson
Its:
President
and CEO
|
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