On August 27, 2008, Vignette Corporation (the "Company") entered into the Amendment No. 3 (the "Amendment") to the Amended and Restated Master Services Agreement between the Company and Virtusa Corporation ("Virtusa") dated November 1, 2005 (the "Agreement"). Pursuant to the Agreement, Virtusa has provided the Company with certain software development resources. The Amendment provides that the Company may, over the next twelve months, solicit for hire as full time employees of the Company, the Virtusa personnel who are currently performing services as part of Virtusa's center dedicated to the Company and that the Agreement will terminate as of August 13, 2009. In connection with the Amendment, the termination fee payable by the Company will be reduced from $2,000,000 to $1,000,000 (payable in two equal installments at the execution of the Amendment and 90 days thereafter).
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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.
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VIGNETTE CORPORATION |
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Dated: August 28, 2008
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By: |
/s/ T. Patrick Kelly Chief Financial Officer |