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
December
1, 2006 (November 27, 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.)
|
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.
(b) On
November 27, 2006, Michael E. Kiley, Executive Vice President and Chief
Operating Officer of Competitive Technologies, Inc. (the “Company”), resigned
his employment from the Company. As discussed below, Mr. Kiley will continue
to
be affiliated with the Company as an independent business development
consultant. A copy of a press release announcing Mr. Kiley’s resignation is
attached as Exhibit 99.1.
(e) On
November 28, 2006, the Company and Mr. Kiley entered into an Independent
Consulting Agreement with an initial term of six months, renewable for
additional six month terms by mutual consent. Other terms of the agreement
include: Mr. Kiley shall be an independent contractor to the Company and shall
not be entitled to receive any benefits generally available to employees,
including incentive compensation; Mr. Kiley shall execute a release in favor
of
the Company; during the initial six month term, the Company shall not require
less than twenty days of work per month; the fee for services to be provided
shall be one thousand dollars ($1,000) per full day and five hundred dollars
($500) per half day; and consultant shall be reimbursed for reasonable and
customary expenses incurred in the performance of the services provided. A
copy
of the agreement is attached as Exhibit 10.1, and is incorporated herein by
reference.
Mr.
Kiley’s employment agreement was filed (on February 23, 2006) as Exhibit 10.1 to
our Current Report on Form 8-K dated February 15, 2006.
Item
9.01. Financial
Statements and Exhibits
(c) Exhibits
Exhibit
No.
|
|
Description
|
|
|
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Exhibit
10.1
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Independent
Consulting Agreement between Michael Kiley and
registrant.
|
|
|
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Exhibit
99.1
|
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Press
release dated
November 28, 2006.
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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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|
|
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Date:
December 1, 2006
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By:
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/s/
Michael D. Davidson
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Name:
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Michael
D. Davidson
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Title:
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Senior
Vice President and
|
|
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Chief
Financial Officer
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EXHIBIT
INDEX
Exhibit
No.
|
|
Description
|
|
|
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Exhibit
10.1^
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|
Independent
Consulting Agreement between Michael Kiley and
registrant.
|
|
|
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Exhibit
99.1+
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Press
release dated November 28, 2006.
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^
Filed
herewith
+
Furnished herewith