file8k071608.htm
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):
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July
14, 2008
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ISCO
INTERNATIONAL, INC.
(Exact
Name of Registrant as Specified in
Charter)
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DELAWARE
(State
or Other Jurisdiction of Incorporation or Organization)
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001-22302
(Commission
File Number)
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36-3688459
(I.R.S.
Employer Identification Number)
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1001
Cambridge Drive, Elk Grove Village, ILLINOIS
(Address
of Principal Executive Offices)
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60007
(Zip
Code)
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847-391-9400
(Registrant’s
Telephone Number, Including Area
Code)
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Not
Applicable
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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 is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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[ ]
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Written
communications pursuant to Rule 425 under the Securities
Act
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act
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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.
(e) On
July 3, 2008 ISCO International, Inc. (the “Company”) entered into an offer
letter and compensatory arrangement with Mr. John G. Christie whereby Mr.
Christie will became Vice President of Sales of the Company effective as of July
14, 2008.
The
Company issued a press release dated July 16, 2008 announcing the hiring of Mr.
Christie. A copy of the press release is attached to this Current
Report as Exhibit 99.1 and is incorporated herein by this
reference.
Mr.
Christie’s offer letter has no set term, and his employment is at
will. Mr. Christie’s offer letter provides for an annual base salary
of $150,000. In addition, Mr. Christie is eligible to receive a
performance-based annual bonus of $75,000 if certain quarterly revenue
recognition milestones are reached, with an additional performance-based bonus
of $10,000 if certain product-mix objectives are reached in the third and fourth
fiscal quarters of 2008. It has been recommended to the Board of
Directors that Mr. Christie receive 250,000 restricted shares of the Company’s
common stock, to fully vest in two years, with six month partial vesting
increments. After four months of employment, Mr. Christie will be
entitled to three months of severance if he is terminated for any reason other
than good cause, contingent upon his execution of a release and
non-disparagement agreement. Mr. Christie will be entitled to receive
his base salary during such severance period, and any bonus earned as well as
vested equity awards as of his termination date.
Item
9.01 – Financial Statements and Exhibits
(d) Exhibits
The
following exhibits are furnished as part of this report.
99.1
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Press
release issued by the Company July 16,
2008
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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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ISCO
INTERNATIONAL, INC.
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Date: July
16, 2008
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By:
/s/ Gary Berger
Gary
Berger
Chief Financial
Officer
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