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
January
24, 2007 (January 18, 2007)
Date
of
Report (Date of earliest event reported)
COMPETITIVE
TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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1-8696
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36-2664428
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(State
or other jurisdiction of
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(Commission
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(I.R.S.
Employer
|
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incorporation)
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File
Number )
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Identification
No.)
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777
Commerce Drive, Suite 100, Fairfield, Connecticut 06825
(Address
of principal executive offices) (Zip Code)
(203)
368-6044
(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:
□
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))
Item
5.02. Departure
of Directors or Principal Officers; Election of Directors; Appointment of
Principal Officers; Compensatory Arrangements of Certain
Officers.
(e) On
January 18, 2007, Competitive Technologies, Inc. (the “Company”) and Donald J.
Freed, Ph.D. amended the terms of Dr. Freed’s amended and restated employment
agreement (the “Amendment”). The purpose of the Amendment was to change the
terms of the amended and restated employment agreement (the “Agreement”) to
provide for Dr. Freed to resign his employment immediately after a successor
has
been identified and hired by the Company. Within seven (7) days after his
successor is hired, Dr. Freed will deliver to the Company a resignation letter
and execute a release in favor of the Company. Immediately upon the occurrence
of these two events, Dr. Freed will be entitled to receive the same severance
related compensation that he would have been entitled to receive if he had
been
terminated in connection with a “change in control,” as defined in the
Agreement.
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.
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COMPETITIVE
TECHNOLOGIES, INC. |
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| Date: January
24, 2007 |
By: |
/s/ Michael
D. Davidson |
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Name: Michael
D. Davidson |
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Title: Senior
Vice President and Chief
Financial Officer
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