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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): February 5, 2007
WINLAND ELECTRONICS, INC.
(Exact name of registrant as specified in its charter)
Minnesota
(State or Other Jurisdiction of Incorporation)
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1-15637
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41-0992135 |
(Commission File Number)
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(IRS Employer |
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Identification No.) |
1950 Excel Drive
Mankato, Minnesota 56001
(Address of Principal Executive Offices) (Zip Code)
(507) 625-7231
(Registrants 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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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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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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 |
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Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain Officers. |
On February 5, 2007, Winland Electronics, Inc. entered into an employment agreement with Terry
Treanor, Vice President of Manufacturing, which agreement continues until either party terminates
such agreement as provided in the agreement. Pursuant to the terms of the agreements, Mr.
Treanors base salary beginning January 1, 2007 is $125,000 and is subject to review at least
annually. If the Mr. Treanors employment is terminated by Winland without cause or by Mr. Treanor
for good reason, Mr. Treanor is entitled to his base salary for six months and health care benefits
for three months; provided, however, if such termination occurs within two years after a change of
control, Mr. Treanor will be entitled to an amount equal to his salary and bonus payments for the
two completed fiscal years immediately preceding termination payable over the 24 months following
the termination. During employment with Winland and for two years following termination of such
employment, Mr. Treanor has agreed that he will not compete with us or solicit any of our
employees, customers or contractors for employment or business purposes.
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Item 9.01 |
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Financial Statements and Exhibits. |
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(a) |
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Financial statements: None. |
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(b) |
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Pro forma financial information: None. |
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(c) |
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Shell company transactions: None. |
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(d) |
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Exhibits: |
10.1 Employment Agreement dated February 5, 2007 with Terry Treanor
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SIGNATURE
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.
Dated: February 9, 2007
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WINLAND ELECTRONICS, INC.
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By /s/ Lorin E. Krueger
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Lorin E. Krueger |
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President and Chief Executive Officer |
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
EXHIBIT INDEX TO FORM 8-K
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Date of Report:
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Commission File No.: |
February 5, 2007
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1-15637 |
WINLAND ELECTRONICS, INC.
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EXHIBIT NO. |
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ITEM |
10.1
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Employment Agreement dated February 5, 2007 with Terry Treanor |
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