UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
(Amendment No. 8)
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 1, 2006
NVE Corporation
(Exact name of registrant as specified in its charter)
Minnesota | 000-12196 | 41-1424202 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| 11409 Valley View Road, Eden Prairie, Minnesota | 55344 |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code (952) 829-9217
(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 (see General Instruction A.2. below):
☐ 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))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Title of each class | Trading symbol(s) | Name of each exchange on which registered |
Common Stock, $0.01 par value | NVEC | The NASDAQ Stock Market, LLC |
Explanatory Note
This Amendment No. 8 to Form 8-K is being filed to disclose Amendment No. 9 to our Supplier Partnering Agreement dated January 3, 2006 by and between Pacesetter, Inc., now a subsidiary of Abbott Laboratories (“Abbott”), and us, as amended by Amendment No. 1 to the Agreement dated September 6, 2007, Amendment No. 2 dated December 15, 2009, Amendment No. 3 dated September 13, 2010, Amendment No. 4 dated February 1, 2011, Amendment No. 5 dated April 20, 2016, Amendment No. 6 dated December 18, 2020, Amendment No. 7 dated April 30, 2021, and Amendment No. 8 dated February 1, 2022.
Item 1.01. Entry into a Material Definitive Agreement.
General Information
We supply products to Abbott under the Supplier Partnering Agreement as amended.
Description of the Terms and Conditions of the Amendment
On January 20, 2023, we executed Amendment No. 9 to the Supplier Partnering Agreement, which extends the Agreement term through December 31, 2023 and amends pricing. The Amendment is filed as Exhibit 10.11 to this Current Report on Form 8-K/A.
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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.
Date January 25, 2023 | NVE CORPORATION
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INDEX TO EXHIBITS
Exhibit # | Description |
10.1 | |
10.2+ | |
10.3+ | |
10.4+ | |
10.5+ | |
10.6 | |
10.7 | |
10.8 | |
10.9 | |
10.10* | Amendment No. 8 to Supplier Partnering Agreement between Abbott and the company (incorporated by reference to the Form 8-K/A filed February 2, 2022). |
10.11* |
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104 | Cover Page Interactive Data File (embedded within the Inline XBRL document).
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+Confidential portions of this exhibit were deleted and filed separately with the SEC under a request for confidential treatment pursuant to Rule 24b-2 or Rule 406.
*Certain confidential portions of this exhibit have been redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K. The omitted information is (i) not material and (ii) would likely cause us competitive harm if publicly disclosed. We agree to furnish supplementally an unredacted copy of the exhibit to the Securities and Exchange Commission on its request.
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AMENDMENT NO. 9
TO
SUPPLIER PARTNERING AGREEMENT
THIS AMENDMENT TO SUPPLIER PARTNERING AGREEMENT (this “Amendment”), dated as of December 5, 2022, (the “Amendment Effective Date”) is made and entered into by and between Pacesetter, Inc., with offices at 15900 Valley View Court, Sylmar, California, 91342 (“Buyer”), and NVE Corporation, with a principal place of business at 11409 Valley View Rd, Eden Prairie, Minnesota, 553443617 (“Seller”).
RECITALS
A.Buyer and Seller are parties to that certain SUPPLIER PARTNERING AGREEMENT with an effective date of January 1, 2006; Amendment No. 1 with an effective date of September 6, 2007; Amendment No. 2 with an effective date of December 15, 2009; Amendment No. 3 with an effective date of September 13, 2010; Amendment No. 4 with an effective date of February 1, 2011; Amendment No. 5 with an effective date of April 20, 2016; Amendment No. 6 with an effective date of December 16, 2020; Amendment No. 7 with an effective date of April 12, 2021; and Amendment No. 8 with an effective date of November 10, 2021 (collectively the “Agreement”).
B.Buyer and Seller now wish to amend the terms of Agreement as set forth in this Amendment.
NOW, THEREFORE, Buyer and Seller agree to amend the Agreement as follows:
1. Section 1, Term of Agreement, is hereby deleted and replaced with the following
1. Term of Agreement. This Agreement begins on January 1, 2006 and will remain in force through December 31, 2023, unless terminated earlier.
2. Attachment 1 is hereby amended to reflect a 2023 price of the following:
Part Number 1071000-001 increase from current price of $** to $**; Part Number 100101124 increase from current price of $** to $** and Part Number 100127071 increase from current price of $** to $**. [These increases are effective with all shipments made after January 11, 2023.]
3.If any provisions of this Amendment and the Agreement conflict, the provisions of this Amendment shall prevail. Except as specifically amended herein, all terms and conditions of the Agreement shall remain in full force and effect.
4. Each party represents that it has authority to enter into this Amendment. This Amendment may be executed in counterparts, each of which for all purposes shall be deemed an original, and all of which constitute, collectively, one agreement. Facsimile or electronically transmitted signatures shall be deemed effective as originals.
The parties have caused this Amendment to be signed by their duly authorized representatives, effective as of the Amendment Effective Date.
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Pacesetter, Inc.
By: /s/ Jonathan Harrington______________
Name: Jonathan Harrington______________
Title: DVP OPERATIONS+SUPPLY CHAIN
Date: 20 Jan 2023_____________________ | NVE Corporation
By: /s/ Joe Schmitz____________________
Name: Joe Schmitz____________________
Title: CFO___________________________
Date: 1/16/23________________________ |
9025.3 – NVE Corporation - Supply (Direct) Amended Page 2 of 2