Attached files
| file | filename |
|---|---|
| EX-10.3 - ITEX CORP | v211984_ex10-3.htm |
| EX-10.2 - ITEX CORP | v211984_ex10-2.htm |
| EX-10.1 - ITEX CORP | v211984_ex10-1.htm |
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
Date
of Report (Date of earliest event reported): February 14, 2011
ITEX Corporation
(Exact
Name of Registrant as Specified in its Charter)
|
Nevada
|
0-18275
|
93-0922994
|
|
(State
or other jurisdiction of
incorporation)
|
(Commission
file number)
|
(IRS
employer identification number)
|
|
3326
160th
Avenue SE, Suite 100, Bellevue, WA
|
98008
|
|
|
(Address
of principal executive offices)
|
(Zip
code)
|
|
Registrant’s
telephone, including area code (425)
463-4000
|
|
N/A
|
|
(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))
|
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Item 5.02
|
Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers
|
On
February 14, 2011, the Board of Directors of ITEX Corporation (the “Company”)
approved an amendment to the 2004 Equity Incentive Plan, as amended and restated
(the “Plan”), that would increase the number of shares of the Company’s common
stock, $.01 par value per share, that may be delivered pursuant to awards
granted under the Plan by an additional 400,000 shares.
The
following summary of the Plan is qualified in its entirety by reference to the
text of the Plan attached hereto as Exhibit 10.1.
The Board
or one or more committees appointed by the Board administers the Plan. The Board
has delegated general administrative authority for the Plan to the Compensation
Committee of the Board. The administrator of the Plan has broad authority under
the Plan to, among other things, select participants and determine the type(s)
of award(s) that they are to receive, and determine the number of shares that
are to be subject to awards and the terms and conditions of awards, including
the price (if any) to be paid for the shares or the award.
Persons
eligible to receive awards under the Plan include officers or employees of the
Company or any of its subsidiaries, directors of the Company, and certain
consultants and advisors to the Company or any of its subsidiaries.
After
giving effect to the Plan amendment, the maximum number of shares of common
stock that may be issued or transferred pursuant to awards under the Plan is
400,000 shares. The types of awards that may be granted under the Plan include
restricted stock and other forms of awards granted or denominated in the common
stock or units of the common stock, as well as stock options, stock appreciation
rights, and certain cash bonus awards. Awards that for any reason are canceled,
terminated, forfeited, settled in cash or otherwise settled without the issuance
of the Company’s common stock will be available again under the
Plan.
The Board
of Directors or Compensation Committee may terminate, amend or suspend the Plan
at any time. The Plan will terminate on March 15, 2014, if not earlier
terminated by the Board or Compensation Committee.
|
Item 9.01
|
Financial Statements and Exhibits |
|
(d)
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Exhibits.
|
|
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Exhibit
Number
|
Description
|
|
|
10.1
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2004
Equity Incentive Plan, as amended and restated
|
|
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10.2
|
Executive Form of Stock Award Agreement under the Plan | |
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10.3
|
Standard Form of Stock Award Agreement under the Plan | |
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.
|
ITEX
Corporation
(Registrant)
|
|||
|
Date: February 18,
2010
|
By:
|
/s/ Steven White
|
|
|
Steven
White
Chief
Executive Officer
|
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| Title | |||