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): November 13, 2007
 
UNIVERSAL SECURITY INSTRUMENTS, INC.

(Exact name of registrant as specified in its charter)
 
Maryland
0-7885
52-0898545
(State or Other Jurisdiction
(Commission File Number)
(IRS Employer
of Incorporation)
 
Identification No.)

7-A Gwynns Mill Court, Owings Mills, Maryland 21117
(Address of Principal Executive Offices)

Registrant’s telephone number, including area code: (410) 363-3000

Inapplicable
(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:


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)


Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

INFORMATION TO BE INCLUDED IN THE REPORT

Item 1.01.   Entry into a Material Definitive Agreement.

On November 13, 2007, the Registrant entered into an Addendum to the Second Amended and Restated Employment Agreement dated as of July 18, 2005 with Harvey B. Grossblatt, President and Chief Executive Officer of the Registrant (the “Addendum”). The Addendum extended the term of Mr. Grossblatt’s employment by one year, from July 31, 2008 to July 31, 2009.  

Item 9.01.   Financial Statements and Exhibits.

(c)   Exhibits

The following exhibits are filed herewith:

Exhibit No.
10.1
Addendum, dated November 13, 2007, to Second Amended and Restated Employment Agreement

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 thereunto duly authorized.
 
     
 
UNIVERSAL SECURITY INSTRUMENTS, INC.
(Registrant)
 
  		 
  		 
 
Date: November 15, 2007 By:   /s/ Harvey B. Grossblatt
 
Harvey B. Grossblatt
 
President
 
2

Exhibit 10.1

ADDENDUM TO
SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT

THIS ADDENDUM TO SECOND AMENDED AND RESTATED   EMPLOYMENT AGREEMENT (the “ Addendum ”) is made as of the 13 th day of November, 2007 by and between UNIVERSAL SECURITY INSTRUMENTS, INC. , a Maryland corporation (the “ Company ”) and HARVEY B. GROSSBLATT (the “ Executive ”).

INTRODUCTORY STATEMENT

The Company and Executive entered into a Second Amended and Restated Employment Agreement dated as of July 18, 2005, (the “ Original Agreement ”). The parties desire to extend the term of the Original Agreement for an additional one-year term.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

A.   All capitalized terms not otherwise defined in this Addendum shall have the meanings set forth in the Original Agreement.

B.   The first sentence of Section 1(b) of the Original Agreement is hereby amended in it entirety to read as follows:

Subject to Section 7, the Company shall employ the Executive pursuant to the terms hereof for the period commencing as of the date hereof and ending on July 31, 2009.

C.   In all other respects, the Original Agreement, as amended hereby, shall remain in full force and effect.

IN WITNESS WHEREOF, the parties have executed this Addendum as of the day and year first above written.
 
     
  UNIVERSAL SECURITY INSTRUMENTS, INC.
 
  		 
  		 
 
  By:   /s/ James B. Huff
 
James B. Huff, Vice President
   
   
  /s/ Harvey B. Grossblatt
 
Harvey B. Grossblatt