1
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) February 15, 2005
EFC BANCORP, INC.
-----------------
(Exact name of registrant as specified in its charter)
Delaware 1-13605 36-4193304
------------------- ------- ----------
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
1695 Larkin Avenue, Elgin, Illinois 60123
----------------------------------- -----
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (847) 741-3900
--------------
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 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))
2
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
------------------------------------------
On February 15, 2005, the Board of Directors of EFC Bancorp, Inc. (the
"Company") approved amendments to the employment agreements previously entered
into with Barrett J. O'Connor, Chief Executive Officer of the Company, and James
J. Kovac, President, Chief Operating Officer and Treasurer of the Company. These
amendments clarify the methodology used to determine the benefits Messrs.
O'Connor and Kovac would receive under their respective employment agreement in
the event of a change in control of the Company. The amendments are filed
herewith as exhibits.
On February 15, 2005, the Board of Directors of the Company also approved
an amendment to the Three-Year Change in Control Agreement previously entered
into with Leo M. Flanagan, Jr., Chairman of the Board of the Company. This
amendment clarifies the methodology used to determine the benefits Mr. Flanagan
would receive under his Change in Control Agreement in the event of a change in
control of the Company. The amendment is filed herewith as an exhibit.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
---------------------------------
Exhibit 10.1 Amendment to the EFC Bancorp, Inc. Employment Agreement
with Barrett J. O'Connor
Exhibit 10.2 Amendment to the EFC Bancorp, Inc. Employment Agreement
with James J. Kovac
Exhibit 10.3 Amendment to the EFC Bancorp, Inc. Three-Year Change in
Control Agreement with Leo M. Flanagan, Jr.
3
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.
EFC BANCORP, INC.
Date: February 16, 2005 By:/s/ James J. Kovac
----------------------------------------
James J. Kovac
President, Chief Operating Officer and
Treasurer