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 13, 2005
FORGENT NETWORKS, INC.
(Exact name of registrant as specified in charter)
| Delaware | 0-20008 | 74-2415696 | ||
| (State or other jurisdiction of incorporation or organization) |
(Commission File Number) | (IRS Employer Identification No.) |
108 Wild Basin Road
Austin, Texas 78746
(Address of principal executive offices and zip code)
(512) 437-2700
(Registrant’s telephone number, including area code)
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 (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities 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)). |
Section 1 – Registrant’s Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
One January 13, 2005, the Registrant entered into an agreement (dated January 11, 2005) with the law firm of Godwin Gruber, LLP (“Godwin”) to represent the Registrant as lead counsel in the licensing and litigation related to its United States Patent No. 4,698,672 (“‘672 Patent”). Furthermore, on January 19, 2005, the Registrant entered into an agreement with The Roth Law Firm, P.C. (“Roth”) to represent the Registrant as local counsel in the litigation related to its ‘672 Patent.
Under the terms of the Godwin agreement, the Registrant and its wholly owned subsidiary, Compression Labs, Inc. (“CLI”), agree to pay Godwin 16% of all license proceeds after expenses and 21% of all litigation proceeds after expenses once total proceeds from licensing and litigation exceed $6 million from the date of the agreement. In addition, the Registrant and CLI agree to pay Godwin 50% of the firm’s standard hourly rate for time incurred.
Under the terms of the Roth agreement, the Registrant and CLI, agree to pay Roth 10% of all litigation proceeds once total proceeds from licensing and litigation exceed $10 million from the date of the agreement. In addition, the Registrant and CLI agree to pay Roth its standard hourly rate for time incurred.
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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 hereunto duly authorized.
| FORGENT NETWORKS, INC. | ||||
| Date: January 19, 2005 | By: | /s/ Jay C. Peterson | ||
| Jay C. Peterson | ||||
| Chief Financial Officer | ||||
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