0001181431-13-020426.txt : 20130403 0001181431-13-020426.hdr.sgml : 20130403 20130403121652 ACCESSION NUMBER: 0001181431-13-020426 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20130331 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130403 DATE AS OF CHANGE: 20130403 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SERVOTRONICS INC /DE/ CENTRAL INDEX KEY: 0000089140 STANDARD INDUSTRIAL CLASSIFICATION: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] IRS NUMBER: 160837866 STATE OF INCORPORATION: DE FISCAL YEAR END: 0101 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07109 FILM NUMBER: 13738563 BUSINESS ADDRESS: STREET 1: 1110 MAPLE ST CITY: ELMA STATE: NY ZIP: 14059 BUSINESS PHONE: 7166335990 MAIL ADDRESS: STREET 1: P O BOX 300 CITY: ELMA STATE: NY ZIP: 14059-0300 8-K 1 rrd376093.htm FORM 8-K FILED APRIL 3, 2013 Prepared By R.R. Donnelley Financial -- Form 8-K
 
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):  03/31/2013
 
Servotronics, Inc.
(Exact name of registrant as specified in its charter)
 
Commission File Number:  001-07109
 
Delaware
  
16-0837866
(State or other jurisdiction of
  
(IRS Employer
incorporation)
  
Identification No.)
 
1110 Maple Street
Elma, New York 14059
(Address of principal executive offices, including zip code)
 
(716) 655-5990
(Registrant’s telephone number, including area code)
 
(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 of Certain Officers; Compensatory Arrangements of Certain Officers
 
On March 31, 2013, Servotronics, Inc. (the "Company"), acting under the authority of the Executive Committee of the Company's Board of Directors, executed an amendment to the employment agreement with each of Dr. Nicholas D. Trbovich, its Chairman and Chief Executive Officer, and Kenneth D. Trbovich, its President. The employment agreements were amended to reflect the current salaries of Dr. Nicholas D. Trbovich ($578,300) and Kenneth D. Trbovich ($250,000) as previously determined by the independent directors.

The foregoing summary description of the amendments to the employment agreements does not purport to be complete and is qualified in its entirety by reference to the employment agreements, as amended. The amendment to Dr. Nicholas D. Trbovich's employment agreement is filed as Exhibit 10.1 and the amendment to Kenneth D. Trbovich's employment agreement is filed as Exhibit 10.2.

 
 
Item 9.01.    Financial Statements and Exhibits
 
The following are filed as exhibits to this Current Report on Form 8-K:

10.1        Amendment to employment agreement for Dr. Nicholas D. Trbovich, Chief Executive Officer

10.2        Amendment to employment agreement for Kenneth D. Trbovich, President

 

 

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.
 
           
Servotronics, Inc.
 
 
Date: April 03, 2013
     
By:
 
/s/    Cari L. Jaroslawsky
               
Cari L. Jaroslawsky
               
Chief Financial Officer
 
 

 

EXHIBIT INDEX
 
Exhibit No.
  
Description
EX-10.1
  
Amendment to employment agreement for Dr. Nicholas D. Trbovich, Chief Executive Officer
EX-10.2
  
Amendment to employment agreement for Kenneth D. Trbovich, President
EX-10 2 rrd376093_39436.htm AMENDMENT TO EMPLOYMENT AGREEMENT FOR DR. NICHOLAS D. TRBOVICH, CHIEF EXECUTIVE OFFICER SECURITIES AND EXCHANGE COMMISSION

Exhibit 10.1

 

As of March 31, 2013

Dr. Nicholas D. Trbovich (Nicholas D. Trbovich, Sr.)
28 Tanglewood Drive, West
Orchard Park, NY 14127

Dear Dr. Nicholas D. Trbovich (Nicholas D. Trbovich, Sr.):

You and Servotronics, Inc. (the "Company") are parties to an Employment Agreement, dated July 1, 2005 and ratified on June 30, 2006 pursuant to which you are employed by the Company. This letter confirms such Amended Employment Agreement and subsequent ratification and subsequent Amendments dated August 4, 2006, July 6, 2007, July 9, 2008, December 31, 2008, July 2, 2009, February 22, 2010, July 22, 2010, April 3, 2011, August 12, 2011, January 27, 2012, August 13, 2012, February 7, 2013 and any and all other relevant amendments (the "Amended Agreement").

This letter will also confirm your agreement and that of the Company by action of the Executive Committee of the Board of Directors on March 31, 2013 to amend Paragraph 3 of the Amended Agreement to delete the former salary and insert in its place "$578,300.00" subject to your acceptance which will be indicated by your signature below.

If the foregoing meets with your approval and you are willing to become bound hereby, please sign and return to the undersigned the enclosed copy of this letter.

Very truly yours,

SERVOTRONICS, INC.

/s/ Bernadine E. Kucinski

Bernadine E. Kucinski,
Assistant Corporate Secretary

ACCEPTED AND AGREED

/s/ Dr. Nicholas D. Trbovich
Dr. Nicholas D. Trbovich
(Nicholas D. Trbovich, Sr.)

March 31, 2013
Date

 EX-10 3 rrd376093_39437.htm AMENDMENT TO EMPLOYMENT AGREEMENT FOR KENNETH D. TRBOVICH, PRESIDENT SECURITIES AND EXCHANGE COMMISSION

Exhibit 10.2

 

As of March 31, 2013

Kenneth D. Trbovich
2370 Lewis Road
South Wales, NY 14139-9711

Dear Mr. Kenneth D. Trbovich:

You and Servotronics, Inc. (the "Company") are parties to an Employment Agreement, dated June 15, 2012 pursuant to which you are employed by the Company. This letter confirms such Employment Agreement and subsequent ratification and subsequent Amendment dated August 13, 2012 and any and all other relevant amendments (the "Amended Agreement").

This letter will also confirm your agreement and that of the Company by action of the Executive Committee of the Board of Directors on March 31, 2013 to amend Paragraph 3 of the Amended Agreement to delete the former salary and insert in its place "$250,000.00" subject to your acceptance which will be indicated by your signature below.

If the foregoing meets with your approval and you are willing to become bound hereby, please sign and return to the undersigned the enclosed copy of this letter.

Very truly yours,

SERVOTRONICS, INC.

/s/ Bernadine E. Kucinski

Bernadine E. Kucinski,
Assistant Corporate Secretary

ACCEPTED AND AGREED

/s/ Kenneth D. Trbovich
Kenneth D. Trbovich

March 31, 2013
Date