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
Date
of
Report (Date of earliest event reported) March
10, 2008
Shells
Seafood Restaurants,
Inc.
|
(Exact
Name of Registrant as Specified in
its Charter)
|
Delaware
|
|
0-28258
|
|
65-0427966
|
(State
or Other Jurisdiction
of
Incorporation)
|
|
(Commission
File
Number)
|
|
(IRS
Employer
Identification
No.)
|
|
|
|
|
|
16313
N. Dale Mabry Hwy, Suite 100, Tampa,
FL
|
|
|
|
33618
|
(Address
of Principal Executive Offices)
|
|
|
|
(Zip
Code)
|
Registrant’s
telephone number, including area code:
(813) 961-0944
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 (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. |
On
March
6, 2008, Shells Seafood Restaurants, Inc. (the “Company”)
filed
a Current Report on Form 8-K with respect to Leslie Christon, the Company’s
former Chief Executive Officer and President, leaving the Company to pursue
other opportunities.
In
connection with Ms. Christon leaving the Company, the Company entered into
a
Separation Agreement, dated March 10, 2008 with Ms. Christon (the “Separation
Agreement”),
which
provides among other things that she shall receive as severance for a period
commencing on February 29, 2008 and ending on the earlier of (i) the six month
anniversary of such date or (ii) the date she commences employment with another
entity or person, her then effective base salary (payable in equal installments
in accordance with the Company’s normal salary and payment policies) and
healthcare benefits. The Separation Agreement also contains a general release
of
all claims against the Company, its officer, directors and affiliates. A copy
of
the Separation Agreement is filed herewith as Exhibit 10.1.
ITEM
5.02 |
DEPARTURE
OF
DIRECTORS
OR PRINCIPAL OFFICERS; ELECTION OF
DIRECTORS;
APPOINTMENT
OF PRINCIPAL
OFFICERS.
|
On
March
10, 2008, Leslie Christon, the Company’s former Chief Executive Officer and
President, provided notice to the Company that she has resigned as a member
of
the Company’s Board of Directors, effective as of February 29,
2008.
The
discussion under Item 1.01 of this Report is incorporated under this Item 5.02
as if set forth herein.
ITEM 9.01
|
FINANCIAL
STATEMENTS AND EXHIBITS. |
Item
No.
|
|
Description
|
|
|
|
10.1
|
|
Separation
Agreement, dated March 10, 2008, between the Company and Leslie
Christon.
|
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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|
|
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SHELLS
SEAFOOD
RESTAURANTS, INC. |
|
|
|
Date: March
11, 2008 |
By: |
/s/ Warren
R.
Nelson |
|
|
|
Name:
Warren
R. Nelson Title: President
and Chief Financial Officer |