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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT PURSUANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TO SECTION 13 OR 15(D) OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of Report </B>(Date of earliest event
reported)<B>: January 4, 2012</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TRANSWITCH CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 99%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; font-weight: bold; text-align: center">DELAWARE</TD>
    <TD STYLE="width: 33%; font-weight: bold; text-align: center">0-25996</TD>
    <TD STYLE="width: 33%; font-weight: bold; text-align: center">06-1236189</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of</TD>
    <TD STYLE="text-align: center">(Commission</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;&nbsp; Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Three Enterprise Drive</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Shelton, Connecticut 06484</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address of principal executive offices)&nbsp;&nbsp;(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant's telephone number, including area
code:&nbsp;&nbsp;<B>(203) 929-8810</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp; Not Applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former name or former address, if changed since
last report.)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">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 (<I>see </I>General Instruction
A.2. below):</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Wingdings">o </FONT>Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Wingdings">o </FONT>Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Wingdings">o </FONT>Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="font-family: Wingdings">o </FONT>Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Sublease</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On January 6, 2012, TranSwitch Corporation (the &ldquo;Company&rdquo;)
announced that on December 28, 2011 it entered into an amendment (the &ldquo;Amendment&rdquo;) to a sublease agreement (the &ldquo;Sublease&rdquo;)
with an unaffiliated party to sublease 92,880 square feet of the Company&rsquo;s office space in Shelton, Connecticut (the &ldquo;Subleased
Premises&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The initial term of the Sublease expires in July 2014 and base rent
for the Subleased Premises during the initial term is One Hundred Twelve Thousand, Two Hundred Thirty Dollars ($112,230) per
month. Under the Amendment, the Sublease is extended for a period commencing on the Initial Expiration Date (as defined in the
Sublease) and ending on May 31, 2017 (the &ldquo;Extended Term&rdquo;). During the Extended Term, base rent for the Subleased Premises
shall be One Hundred Nineteen Thousand, Nine Hundred Seventy Dollars ($119,970) per month. &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As a result of the Amendment, the Company expects to reverse approximately
$7.0 million of its previously accrued restructuring liability during the fourth quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">A copy of the Company&rsquo;s press release announcing this information
and certain other information is attached as Exhibit 99.1 to this Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Change of Control Agreements</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As further described in Item&nbsp;5.02, on January 4, 2012, the
Company entered into identical change of control agreements (each, an &ldquo;Agreement&rdquo; and collectively, the &ldquo;Agreements&rdquo;)
with each of Mr. Amir Bar-Niv, Senior Vice President and General Manager &ndash; High Speed Interconnect Business, Mr. Robert Bosi,
Vice President and Chief Financial Officer, Mr. Haim Moshe, Senior Vice President and General Manager &ndash; TranSwitch Israel,
and Mr. Kris Shankar, Senior Vice President and General Manager &ndash; Telecom (each, an &ldquo;Officer&rdquo; and collectively,
the &ldquo;Officers&rdquo;). The disclosure provided in Item&nbsp;5.02 of this Form 8-K relating to the Agreements with the Officers
is hereby incorporated by reference into this Item&nbsp;1.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;As referenced in Item 1.01, on January 4, 2012, the Company
entered into an Agreement with each of the Officers in order to encourage their continued attention and dedication to the Company
in the event of any proposed Change of Control (as defined in the Agreements) of the Company. Pursuant to the Agreements, if an
Officer&rsquo;s employment is terminated within 12 months following a Change of Control (i) for any reason other than death, disability,
resignation, retirement or Cause (as defined in the Agreements), or (ii) by an Officer for Good Reason (as defined in the Agreements),
the Agreements provide that: (a) the Company will pay such Officer his then-current base salary for a period of 9 months following
such termination; (b) all unvested stock options and restricted stock units shall vest upon such termination; and (c) if such Officer
submits the required documentation to the Company within the applicable time periods, the Company will continue to pay on such
Officer&rsquo;s behalf 100% of the premiums to continue coverage under the Company&rsquo;s group health plan until the earlier
of: (i) 9 months from the date of termination; (ii) the date such Officer reaches normal retirement age; (iii) such Officer&rsquo;s
cancellation of such coverage in writing; (iv) the date such Officer becomes eligible for coverage under another group health plan;
or (v) the date on which any severance payment under the Agreement is forfeited due to a material breach of any written agreement
between the Company and such Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;The Agreements also provide that an Officer
shall not be entitled to the severance payments (or any remaining severance payments) if, at the time such payments are to be made,
such Officer is in material breach of any written agreement between the Company and such Officer, including <FONT STYLE="color: black">but
not limited to breaches of provisions related to confidentiality, non-competition, non-solicitation, non-disclosure, return of
company property and non-disparagement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The foregoing description of the Agreements is only a summary and
is qualified in its entirety by reference to the full text of the Agreements, the form of which is attached hereto as Exhibit&nbsp;10.1
and is hereby incorporated by reference into this Item&nbsp;5.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 7.01 Regulation FD Disclosure.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Press Release</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On January 6, 2012, TranSwitch Corporation (the &ldquo;Company&rdquo;)
issued a press release providing an update to its fourth quarter 2011 business outlook. TranSwitch announced that it expects its
fourth quarter 2011 revenue to be roughly $6.3 million, compared to the guidance provided on November 1, 2011 of roughly $7.0 million.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">A copy of the Company&rsquo;s press release announcing this information
and certain other information is attached as Exhibit 99.1 to this Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Promotion of Officers</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The following persons have been promoted to the following positions:
Mr. Amir Bar-Niv, Senior Vice President and General Manager &ndash; High Speed Interconnect Business, and Mr. Haim Moshe, Senior
Vice President and General Manager &ndash; TranSwitch Israel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Exhibits included as part of this Form 8-K are listed in the
Exhibit Index that follows. The Exhibit Index and the Exhibits listed therein are incorporated herein by this reference.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(d) Exhibits.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; font-weight: bold; text-decoration: underline; text-align: center">Exhibit No.</TD>
    <TD STYLE="width: 80%; font-weight: bold; text-decoration: underline">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.1</TD>
    <TD>Form of TranSwitch Corporation Change of Control Agreement</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">99.1</TD>
    <TD>Press Release dated January 6, 2012 (deemed &ldquo;furnished&rdquo; pursuant to General Instruction B.2. of Current report on form 8-K.).</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 77.2pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">TRANSWITCH CORPORATION</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>January 6, 2012</TD>
    <TD>By:</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid">/s/&nbsp;Robert A. Bosi&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Name:&nbsp; Robert A. Bosi</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Title:&nbsp; &nbsp;&nbsp;Vice President and Chief Financial Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Exhibit&nbsp;Index</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 14%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 83%; font-size: 12pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1.5pt solid; font-weight: bold">Exhibit No.</TD>
    <TD STYLE="padding-bottom: 1.5pt; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font-weight: bold">Description</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">10.1</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Form of TranSwitch Corporation Change of Control Agreement</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">99.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Press Release dated January 6, 2012</TD></TR>
</TABLE>


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{"company-data": {"conformed-name": "TRANSWITCH CORP /DE", "cik": "0000944739", "assigned-sic": "3674", "irs-number": "061236189", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-25996", "film-number": "12515109"}, "business-address": {"street1": "THREE ENTERPRISE DRIVE", "city": "SHELTON", "state": "CT", "zip": "06484", "phone": "2039298810"}, "mail-address": {"street1": "THREE ENTERPRISE DRIVE", "city": "SHELTON", "state": "CT", "zip": "06484"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 4, 2012
TRANSWITCH CORPORATION
(Exact name of registrant as specified in its
charter)
DELAWARE
0-25996
06-1236189
(State or other jurisdiction of
(Commission
(I.R.S. Employer
incorporation)
File Number)
Identification No.)
Three Enterprise Drive
Shelton, Connecticut 06484
(Address of principal executive offices)  (Zip Code)
Registrant's telephone number, including area
code:
(203) 929-8810
Not Applicable
(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):
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
Sublease
On January 6, 2012, TranSwitch Corporation (the "Company")
announced that on December 28, 2011 it entered into an amendment (the "Amendment") to a sublease agreement (the "Sublease")
with an unaffiliated party to sublease 92,880 square feet of the Company's office space in Shelton, Connecticut (the "Subleased
Premises").
The initial term of the Sublease expires in July 2014 and base rent
for the Subleased Premises during the initial term is One Hundred Twelve Thousand, Two Hundred Thirty Dollars ($112,230) per
month. Under the Amendment, the Sublease is extended for a period commencing on the Initial Expiration Date (as defined in the
Sublease) and ending on May 31, 2017 (the "Extended Term"). During the Extended Term, base rent for the Subleased Premises
shall be One Hundred Nineteen Thousand, Nine Hundred Seventy Dollars ($119,970) per month.
As a result of the Amendment, the Company expects to reverse approximately
$7.0 million of its previously accrued restructuring liability during the fourth quarter of 2011.
A copy of the Company's press release announcing this information
and certain other information is attached as Exhibit 99.1 to this Form 8-K.
Change of Control Agreements
As further described in Item 5.02, on January 4, 2012, the
Company entered into identical change of control agreements (each, an "Agreement" and collectively, the "Agreements")
with each of Mr. Amir Bar-Niv, Senior Vice President and General Manager – High Speed Interconnect Business, Mr. Robert Bosi,
Vice President and Chief Financial Officer, Mr. Haim Moshe, Senior Vice President and General Manager – TranSwitch Israel,
and Mr. Kris Shankar, Senior Vice President and General Manager – Telecom (each, an "Officer" and collectively,
the "Officers"). The disclosure provided in Item 5.02 of this Form 8-K relating to the Agreements with the Officers
is hereby incorporated by reference into this Item 1.01.
Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As referenced in Item 1.01, on January 4, 2012, the Company
entered into an Agreement with each of the Officers in order to encourage their continued attention and dedication to the Company
in the event of any proposed Change of Control (as defined in the Agreements) of the Company. Pursuant to the Agreements, if an
Officer's employment is terminated within 12 months following a Change of Control (i) for any reason other than death, disability,
resignation, retirement or Cause (as defined in the Agreements), or (ii) by an Officer for Good Reason (as defined in the Agreements),
the Agreements provide that: (a) the Company will pay such Officer his then-current base salary for a period of 9 months following
such termination; (b) all unvested stock options and restricted stock units shall vest upon such termination; and (c) if such Officer
submits the required documentation to the Company within the applicable time periods, the Company will continue to pay on such
Officer's behalf 100% of the premiums to continue coverage under the Company's group health plan until the earlier
of: (i) 9 months from the date of termination; (ii) the date such Officer reaches normal retirement age; (iii) such Officer's
cancellation of such coverage in writing; (iv) the date such Officer becomes eligible for coverage under another group health plan;
or (v) the date on which any severance payment under the Agreement is forfeited due to a material breach of any written agreement
between the Company and such Officer.
The Agreements also provide that an Officer
shall not be entitled to the severance payments (or any remaining severance payments) if, at the time such payments are to be made,
such Officer is in material breach of any written agreement between the Company and such Officer, including
but
not limited to breaches of provisions related to confidentiality, non-competition, non-solicitation, non-disclosure, return of
company property and non-disparagement.
The foregoing description of the Agreements is only a summary and
is qualified in its entirety by reference to the full text of the Agreements, the form of which is attached hereto as Exhibit 10.1
and is hereby incorporated by reference into this Item 5.02.
Item 7.01 Regulation FD Disclosure.
Press Release
On January 6, 2012, TranSwitch Corporation (the "Company")
issued a press release providing an update to its fourth quarter 2011 business outlook. TranSwitch announced that it expects its
fourth quarter 2011 revenue to be roughly $6.3 million, compared to the guidance provided on November 1, 2011 of roughly $7.0 million.
A copy of the Company's press release announcing this information
and certain other information is attached as Exhibit 99.1 to this Form 8-K.
Promotion of Officers
The following persons have been promoted to the following positions:
Mr. Amir Bar-Niv, Senior Vice President and General Manager – High Speed Interconnect Business, and Mr. Haim Moshe, Senior
Vice President and General Manager – TranSwitch Israel.
Item 9.01 Financial Statements and Exhibits.
The Exhibits included as part of this Form 8-K are listed in the
Exhibit Index that follows. The Exhibit Index and the Exhibits listed therein are incorporated herein by this reference.
(d) Exhibits.
Exhibit No.
Description
10.1
Form of TranSwitch Corporation Change of Control Agreement
99.1
Press Release dated January 6, 2012 (deemed "furnished" pursuant to General Instruction B.2. of Current report on form 8-K.).
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.
TRANSWITCH CORPORATION
January 6, 2012
By:
/s/ Robert A. Bosi
Name:  Robert A. Bosi
Title:    Vice President and Chief Financial Officer
Exhibit Index
Exhibit No.
Description
10.1
Form of TranSwitch Corporation Change of Control Agreement
99.1
Press Release dated January 6, 2012