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
February
22, 2006 (February 15, 2006)
Date
of
Report (Date of earliest event reported)
COMPETITIVE
TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
| Delaware |
1-8696
|
36-2664428
|
| (State or other jurisdiction
of |
(Commission
|
(I.R.S.
Employer
|
| incorporation) |
File
Number )
|
Identification
No.)
|
1960
Bronson Road, Fairfield, Connecticut 06824
(Address
of principal executive offices) (Zip Code)
(203)
255-6044
(Registrant’s
telephone number, including area code)
_____________________
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:
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.
On
February 15, 2006, Competitive Technologies, Inc. (“CTT”) and Dr. Michael E.
Kiley entered into an employment agreement (the “Agreement”). The terms of the
Agreement include: employment by CTT as Executive Vice President and Chief
Technology Officer; an annual base compensation of $225,000; eligibility
to
participate in CTT’s Annual Incentive Plan (the “Plan”) and receive a bonus
pursuant to the provisions of the Plan; severance benefits for six (6) months
or
change in control benefits for twelve (12) months, depending on circumstances;
and termination by either party at any time for any reason. A copy of the
Agreement is attached as Exhibit 10.1.
Item
9.01. Financial
Statements and Exhibits
Exhibit
No. Description________________________________________________________________
Exhibit
10.1 Employment
Agreement dated as of February 15, 2006, between registrant and Michael E.
Kiley.
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.
| |
|
|
| |
COMPETITIVE
TECHNOLOGIES, INC. |
|
|
|
| Date: February
22, 2006 |
By: /s/
Michael D. Davidson |
| |
Name: Michael
D. Davidson |
| |
Title: Vice
President and Chief Financial
Officer
|
| |
|
| |
|
EXHIBIT
INDEX
Exhibit
No. Description________________________________________________________________
Exhibit
10.1 Employment
Agreement dated as of February 15, 2006, between registrant and Michael
E.
Kiley.