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REACHLOCAL INC FILES (8-K) Disclosing Results of Operations and Financial Condition, Change in Directors or Principal Officers, Financial Statements and Exhibits(Edgar Glimpses Via Acquire Media NewsEdge) Item 2.02 Results of Operations and Financial Condition. On November 4, 2014, ReachLocal, Inc. publicly disseminated a press release announcing financial results for the third quarter ended September 30, 2014. The foregoing description is qualified in its entirety by reference to ReachLocal's press release, dated November 4, 2014, a copy of which is attached hereto as Exhibit 99.01 and incorporated herein by reference. Such information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing, whether made before or after the date hereof, regardless of any general incorporation language in such filing. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 3, 2014, ReachLocal entered into a separation agreement with Daniel Della Flora, ReachLocal's Chief Accounting Officer, pursuant to which November 25, 2014 will be Mr. Della Flora's last day with the company. The separation agreement, which is consistent with ReachLocal's Change in Control and Severance Policy for Senior Management, provides Mr. Della Flora the following benefits: (i) continuation payments of his base salary for 6 months for a total of $150,000, (ii) six months of continued health benefits, and (iii) immediate acceleration of all unvested equity awards that would have vested during the six-month period following November 25, 2014. Receipt of these benefits will generally be conditioned on Mr. Della Flora executing a release in favor of ReachLocal. Mr. Della Flora's employment letter with ReachLocal will also terminate as of November 25, 2014, except to the extent otherwise expressly provided therein. Mr. Della Flora's departure is not related to any financial or accounting disagreements or irregularities. ReachLocal is initiating a search for a new chief accounting officer. Until a new chief accounting officer is hired, Ross Landsbaum, ReachLocal's chief financial officer, will assume Mr. Della Flora's responsibilities. The foregoing is not a complete description of the terms and conditions of the separation agreement and is qualified in its entirety by reference to the separation agreement, a copy of which will be filed as an exhibit to ReachLocal's next Quarterly Report on Form 10-Q. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 99.01 Press Release dated November 4, 2014 -------------------------------------------------------------------------------- |