-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MtxuLGih7GDuudf39pQrVGvonr8+8MJplt4IhWjWOQxl15Xbys/MUEeg+HxY9Dau AUfEoitpaSb6/NbikCzKGQ== 0001144204-10-012496.txt : 20100310 0001144204-10-012496.hdr.sgml : 20100310 20100310160216 ACCESSION NUMBER: 0001144204-10-012496 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100308 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20100310 DATE AS OF CHANGE: 20100310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENEREX BIOTECHNOLOGY CORP CENTRAL INDEX KEY: 0001059784 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 820490211 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25169 FILM NUMBER: 10670585 BUSINESS ADDRESS: STREET 1: 33 HARBOUR SQ STREET 2: STE 202 CITY: TORONTO ONTARIO CANADA STATE: A1 ZIP: M5J 2G2 BUSINESS PHONE: 4163642551 MAIL ADDRESS: STREET 1: 33 HARBOUR SQ STREET 2: STE 202 CITY: TORONTO ONTARIO CA STATE: A1 ZIP: M5J 2G2 8-K 1 v176797_8k.htm Unassociated Document

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): March 8, 2010
 
 
GENEREX BIOTECHNOLOGY CORPORATION
(Exact name of registrant as specified in its charter)
 
Delaware
  
000-29169
  
98-0178636
(State or other jurisdiction of
Incorporation)
  
(Commission File Number)
  
(I.R.S Employer Identification No.)
 
33 Harbour Square, Suite 202, Toronto, Ontario Canada
  
M5J 2G2
(Address of principal executive offices)
  
(Zip Code)
 
Registrant’s telephone number, including area code: (416) 364-2551
 
N/A
(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))
 
 
 
 
 
 
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment ofCertain Officers; Compensatory Arrangement of Certain Officers.

(e)           On March 8, 2010, the Board of Directors of Generex Biotechnology Corporation (the “Company”) unanimously approved the recommendations of the Compensation Committee as to the following compensatory arrangements with respect to the Company’s principal executive officer, principal financial officer and other named executive officer.

Base Salary Increase

The base salary of one named executive office was increased as follows:

Named Executive Officer
2010 Increase
2010 Base Salary
(retroactive to January 1, 2010)
Mark Fletcher
Executive Vice President
and General Counsel
3.1746%
$325,000

Special Performance Bonus

Mr. Fletcher was also awarded a one-time cash bonus based on his individual performance and contributions during the 2009 calendar year in the amount of $225,000, which amount is payable on or before April 30, 2010.

Long-term Equity Incentives

The following named executive officers received long-term equity incentives in the form of options to purchase shares of the Company’s common stock as follows.

Named Executive Officer
Aggregate Number of Underlying Shares
Anna E. Gluskin
President and Chief Executive Officer
 
500,000
Rose C. Perri
Chief Operating Officer,
Chief Financial Officer,
Treasurer Secretary and Director
 
400,000
Mark Fletcher
Executive Vice President
and General Counsel
300,000

The options have a ten-year term, subject to truncation upon cessation of employment as specified in the Amended and Restated Generex Biotechnology Corporation 2006 Stock Plan.  The exercise price is $0.64 per share, which reflects the NASDAQ Official Close Price of the Company’s common stock on the NASDAQ Capital Market on the date of grant, March 8, 2010.  The options will vest incrementally following the Company’s fiscal year end as follows:

Named Executive Officer
 
Shares Vested as of Date of Grant
 
Shares Vesting on
August 1, 2010
Shares Vesting on
August 1, 2011
Anna E. Gluskin
President and Chief Executive Officer
 
166,666
166,667
166,667
Rose C. Perri
Chief Operating Officer,
Chief Financial Officer,
Treasurer Secretary and Director
 
133,333
133,333
133,334
Mark Fletcher
Executive Vice President and General Counsel
100,000
100,000
100,000

 
 
 
 
 
 
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.
             
       
GENEREX BIOTECHNOLOGY CORPORATION.
     
Date: March 10, 2010
      
/s/ Rose C. Perri
           
Chief Operating Officer and Chief Financial Officer
(principal financial officer)
 
 

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