Attached files
file | filename |
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EX-10.1 - LEONARD KEEN EMPLOYMENT AGREEMENT - Apyx Medical Corp | lkemploymentagt.htm |
EX-99.1 - PRESS RELEASE LEONARD KEEN NEW GERNERAL COUNSEL - Apyx Medical Corp | bvxnewgeneralcounsel.htm |
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):
|
March
2, 2010
|
BOVIE
MEDICAL CORPORATION
|
(Exact
Name of Registrant as Specified in Its Charter)
|
Delaware
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(State
or Other Jurisdiction of Incorporation or
Organization)
|
012183
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11-2644611
|
|||
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
734 Walt Whitman Road, Melville, New York
11747
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(Address
of Principal Executive Offices, Including Zip Code)
|
(631)
421-5452
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(Registrant’s
Telephone Number, Including Area Code)
|
(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
Effective
March 2, 2010, Bovie Medical Corporation (the “Company”) entered into an
Employment Agreement with Leonard Keen to employ Mr. Keen as its Vice President
and General Counsel (the “Employment Agreement”). The terms of the
Employment Agreement were approved by the Company’s Board of
Directors.
The
Employment Agreement provides for (i) the payment of an annual base salary of
not less than $150,000 during the period Mr. Keen works four (4) business days
per week and annual base salary of not less than $187,500 during the period Mr.
Keen works five (5) business days per week (which shall commence not later than
January 1, 2011), (ii) the payment of bonuses from time to time at the
discretion of the Board of Directors and (iii) annual 7.5% increases in base
salary, subject to review and adjustment by the Board of
Directors. In addition, the Company shall reimburse Mr. Keen for
approved travel and miscellaneous business expenses incurred in the course of
his employment.
The
Agreement also contains customary confidentiality and non-competition
provisions.
Mr. Keen
was also granted a non-qualified option to purchase up to 100,000 shares of
restricted common stock of the Company. The options are subject to
(x) a vesting period of seven years from March 2, 2010, with annual vesting in
equal installments for each of the seven years (y) an exercise price of $7.45
(equal to the closing price of the Company’s common stock on March 2, 2010) and
(z) full and complete accelerated vesting of all remaining unvested options upon
the occurrence of a Non-Renewal Notice, a Termination Without Cause or a
Change-in-Control Event (each as defined in the Employment
Agreement).
Item
9.01 Financial
Statements and Exhibits.
(d) Exhibits.
10.1
|
Employment
Agreement dated as of March 2, 2010.
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99.1
|
Press
Release.
|
1
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.
BOVIE MEDICAL CORPORATION | ||||||
Date:
March 8, 2010
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/s/
Andrew Makrides
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|||||
Name:
Andrew Makrides
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||||||
Title: President
and
Chairman of the
Board
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