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
October
25, 2006
Date
of
Report (Date of earliest event reported)
PAC-WEST
TELECOMM, INC.
(Exact
name of registrant as specified in its charter)
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California
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000-27743
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68-0383568
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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1776
W. March Lane, Suite 250
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Stockton,
California
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95207
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(Address
of principal executive offices)
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(Zip
Code)
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(209)
926-3300
(Registrant’s
telephone number, including area code)
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 a Material Definitive Agreement
On
October 25, 2006,
Pac-West
Telecomm, Inc., a California corporation (“Pac-West”),
extended the term of its Separation Agreement with Wallace W. Griffin, the
Chairman of the Board of Directors of Pac-West, for an initial term of six
months, through March 31, 2007. The extension of the Separation Agreement will
automatically renew on a quarterly basis for as long as Mr. Griffin remains
on
the Board of Directors, subject to certain termination provisions.
For
performing the duties of Chairman of the Board and making himself available
to
management upon request for special projects, the extension of the Separation
Agreement provides, among other things, that Mr. Griffin is entitled to receive
$24,000 per quarter for so long as he serves as Chairman of the Board, $5,000
per quarter together with stock option grants granted on the same terms as
outside directors, in each case, for so long as he serves as a director, and
$4,750 per quarter as compensation for entering into a non-competition
arrangement.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
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PAC-WEST
TELECOMM, INC.
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(Registrant)
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Dated:
October 31, 2006
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By:
/s/ Michael L. Sarina
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Michael
L. Sarina
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Chief
Financial Officer
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