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):
September
8, 2008
UNIVERSAL
SECURITY INSTRUMENTS, INC.
(Exact
name of registrant as specified in its charter)
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Maryland
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0-7885
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52-0898545
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(State
or Other Jurisdiction
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(Commission
File Number)
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(IRS
Employer
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of
Incorporation)
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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:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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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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o
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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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INFORMATION
TO BE INCLUDED IN THE REPORT
Item
1.01.
Entry
into a Material Definitive Agreement.
On
September 8, 2008, 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, 2009 to July 31, 2010.
Item
9.01.
Financial
Statements and Exhibits.
(c)
Exhibits
The
following exhibits are filed herewith:
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Exhibit
No.
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10.1
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Addendum, dated September 8, 2008,
to Second
Amended and Restated Employment Agreement
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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.
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UNIVERSAL
SECURITY INSTRUMENTS, INC.
(Registrant)
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Date:
September 8, 2008
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By:
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/s/
Harvey B. Grossblatt
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Harvey
B. Grossblatt
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President
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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 8
th
day of
September, 2008 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, as amended (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:
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Subject
to Section 7, the Company shall employ the Executive pursuant to
the terms
hereof for the period commencing as of the date he
reof
and ending on July 31, 2010.
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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.
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UNIVERSAL
SECURITY INSTRUMENTS, INC.
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By:
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/s/
James B. Huff
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James
B. Huff, Vice President
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/s/
Harvey B. Grossblatt
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Harvey
B. Grossblatt
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