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EX-1.1 - EX-1.1 - ENER1 INC | v204135_ex1-1.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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November
29, 2010
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Ener1,
Inc.
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(Exact
name of registrant as specified in its
charter)
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Florida
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001-34050
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59-2479377
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(State
or other jurisdiction
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(Commission
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(I.R.S.
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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1540
Broadway, Suite 25C, New York,
New
York
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10036
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code:
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212
920-3500
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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 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)
|
¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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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
November 29, 2010, Ener1, Inc. (“Ener1” or the “Company”) entered into an
employment agreement (the “Agreement”) with Robert Kamischke, who is the current
Chief Accounting Officer and Vice President of Finance of Ener1. The term of the
Agreement is for three years which will be automatically renewed for one year
periods unless notice is provided six months in advance of the expiration of the
initial term or the then current renewal term. Under the Agreement, Mr.
Kamischke will be entitled to an annual base salary of $225,000, which shall be
redetermined annually by the Company's Compensation Committee, plus all other
employee benefits and incentive compensation plans offered by the Company. In
addition, Mr. Kamischke may from time to time be eligible to earn annual bonuses
and may from time to time be granted equity based awards.
In the
event Mr. Kamischke is terminated by the Company without cause or Mr. Kamischke
resigns for good reason, and if Mr. Kamischke executes and delivers a release to
the Company, he will be entitled to severance equal to one-half times his base
salary plus payment of continued benefits for 6 months and all stock options
will be exercisable for 3 months after termination of employment. If within 3
months before and 12 months after a change in control event Mr. Kamischke is
terminated by the Company without cause or resigns for good reason, and if Mr.
Kamischke executes and delivers a release to the Company, he will be entitled to
severance equal to one times his base salary plus payment of continued benefits
for 12 months, and all stock options and restricted stock previously granted to
him under the Company’s stock incentive plans will vest immediately and all
stock options will be exercisable for 3 months after termination of employment.
In the event Mr. Kamischke’s employment terminates for any other reason, he is
not entitled to any severance under the terms of the Agreement.
In
connection with the Agreement, Mr. Kamischke also agreed to several restrictive
covenants including non-disparagement of the Company, non-competition with the
Company, non-solicitation of the Company’s customers, confidentiality, and
Company ownership of intellectual property.
The above
description of the Agreement is not complete and is qualified in its entirety by
the full text of the Agreement which is attached hereto, and incorporated by
reference herein.
Item
9.01 Financial Statements and Exhibits.
Exhibit
1.1 Employment Agreement, dated November 29, 2010
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.
Ener1,
Inc.
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||||
November
29, 2010
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By:
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/s/
Charles Gassenheimer
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Name:
Charles Gassenheimer
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Title:
Chief Executive
Officer
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Exhibit Index
Exhibit
No.
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Description
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1.1
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Employment
Agreement dated November 29,
2010
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