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 30, 2008
THESTREET.COM,
INC.
(Exact
name of registrant as specified in its charter)
DELAWARE
(State
or
other jurisdiction of incorporation)
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0-25779
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06-1515824
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(Commission
File Number)
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(IRS
Employer Identification No.)
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14
WALL
STREET
15TH
FLOOR
NEW
YORK, NEW YORK 10005
(Address
of principal executive offices, including zip code)
Registrant's
telephone number, including area code: (212) 321-5000
Not
Applicable
(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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£
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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£
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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£
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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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£
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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. Entry into Material Definitive Agreement.
On
June
30, 2008, TheStreet.com, Inc. (the “Company”) and Eric Ashman entered into a new
Employment Agreement (the “Agreement”), effective as of June 30, 2008, revising
and superseding his prior employment agreement with the Company dated July
5,
2006. Pursuant to the Agreement, Mr. Ashman will continue to serve as the Chief
Financial Officer of the Company through June 30, 2009 (the “Term”). Thereafter,
the agreement shall automatically renew for successive one year terms, however,
either party may terminate the Agreement at the end of the Term or subsequent
renewal terms upon ninety (90) days written notice.
In
consideration for his service, Mr. Ashman is entitled to receive an annual
base
salary of $276,000 and is eligible to receive additional bonus compensation
under the Company’s 2007 Performance Incentive Plan (the “Plan”), payable at
year end or shortly thereafter, which may be cash and/or equity compensation
for
his employment during each calendar year of the Term (the “Annual Bonus”). In
addition to the Annual Salary and Annual Bonus, Mr. Ashman may be granted
additional long-term equity incentive compensation under the Plan.
If
Mr.
Ashman’s employment is terminated other than for “Cause” (as defined in the
Agreement) or if he resigns for “Good Reason” (as defined in the Agreement) then
he shall be entitled to receive (i) previously earned salary as prorated through
the date of termination, resignation or expiration, as the case may be, (ii)
health and insurance benefits for up to one year, and (iii) the Annual Salary
to
which Mr. Ashman would have been entitled if he had continued working for the
Company for an additional two (2) year period. Pursuant to the Agreement, and
as
a condition to certain of the forgoing severance entitlements, Mr. Ashman is
subject to certain non-competition, non-solicitation and confidentiality
restrictions.
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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THESTREET.COM,
INC. (Registrant)
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June
30, 2008
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By:
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/s/
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Name:
Thomas J. Clarke, Jr.
Title: Chief
Executive Officer
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