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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 11, 2000
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(Date of Report)
Claimsnet.com inc.
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(Exact name of registrant as specified in its charter)
Delaware 001-14665 75-2649230
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
12801 N. Central Expressway, Suite 1515, Dallas, Texas 75243
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(Address of principal executive offices)
(972) 458-1701
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(Registrant's telephone number, including area code)
None
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(Former name or former address, if changed since last report.)
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Item 6. Resignation of Director.
As of June 28, 2000, Claimsnet.com inc., a Delaware corporation (the
"Company"), and Terry A. Lee, Executive Vice President, Chief Operating Officer,
and a Director of the Company ("Lee"), entered into a Severance Agreement and
General Release (the "Agreement"), in which the parties agreed as follows:
i. The employment of Lee terminated as of June 16, 2000;
ii. The Company would pay to Lee as severance from such date an
aggregate of $162,500, subject to withholding and reduction
related to the repayment of Lee's obligations to the Company,
payable in installments through December 8, 2000; and
iii. Lee provided to the Company a general release relating to his
employment with the Company.
In connection with the execution of such agreement, Lee resigned from
his positions with the Company and resigned from the Board of Directors of the
Company. The resignation of Lee from the Board of Directors of the Company was
not the result of any disagreement with the Company on any matter relating to
the Company's operations, policies, or practices. Lee informed the Company that
he desires to pursue other opportunities.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial Statements of Business Acquired. Not applicable
(b) Pro Forma Financial Information. Not Applicable
(c) Exhibits.
10.1 Severance Agreement and Release, dated as of June 28, 2000,
between Claimsnet.com inc. and Terry A. Lee.
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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.
Dated: July 11, 2000
CLAIMSNET.COM INC.
By: /s/ Bo W. Lycke
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Bo W. Lycke
Chairman of the Board of Directors,
President, and Chief Executive Officer
