Unassociated Document
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): September 13, 2007
IDAHO
GENERAL MINES, INC.
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(Exact
Name of Registrant as Specified in Its Charter)
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Idaho
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(State
or Other Jurisdiction of Incorporation)
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000-50539
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91-0232000
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(Commission
File Number)
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(IRS
Employer Identification No.)
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1726
Cole Blvd., Suite 115, Lakewood, CO
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80401
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(303)
928-8599
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(Registrant’s
Telephone Number, Including Area Code)
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N/A
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(Former
Name or Former Address, if Changed Since Last
Report)
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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
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On
September 13, 2007, the Board of Directors of Idaho General Mines, Inc. (the
“Company”) entered into an Amended and Restated Employment Agreement with Bruce
D. Hansen, the Company’s Chief Executive Officer (the “Amended and Restated
Agreement”), which amends and restates Mr. Hansen’s original Employment
Agreement with the Company dated January 31, 2007 (the “Original Agreement”).
The Amended and Restated Agreement and the Original Agreement both provide,
among other things, for a cash incentive payment (the “Financing Incentive”) of
$1.0 million that is payable to Mr. Hansen upon the completion of equity and/or
debt financing sufficient to commence production of the Mount Hope mine (the
“Production Financing”). The Amended and Restated Agreement omitted a provision
contained in the Original Agreement that provided that the Financing Incentive
would be pro rated upwards or downwards to the extent the required Production
Financing was more than or less than $500 million. The Amended and Restated
Agreement does not contain any other material changes to the economic terms
of
the Original Agreement.
Item
9.01 Financial Statements and Exhibits
(c)
Exhibits
99.1 Amended
and Restated Employment Agreement between the Company and Bruce D. Hansen dated
September 13, 2007.
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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IDAHO
GENERAL MINES, INC.
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(Registrant)
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Date:
September 18, 2007
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By:
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/s/
David A. Chaput
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David
A. Chaput
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Chief
Financial Officer
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