-----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, LIdauBgo15pS5/MRv2Cp/0COJ0ER8obt9HJN/EKpJHZo2QL63CtbdI0bIOSAciEt BsWLN7eK3KgTSZo+PR+N4w== 0000921895-10-001581.txt : 20101028 0000921895-10-001581.hdr.sgml : 20101028 20101028170320 ACCESSION NUMBER: 0000921895-10-001581 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20101022 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20101028 DATE AS OF CHANGE: 20101028 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SL INDUSTRIES INC CENTRAL INDEX KEY: 0000089270 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS, NEC [3679] IRS NUMBER: 210682685 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04987 FILM NUMBER: 101148831 BUSINESS ADDRESS: STREET 1: 520 FELLOWSHIP ROAD STREET 2: SUITE A114 CITY: MT LAUREL STATE: NJ ZIP: 08054 BUSINESS PHONE: 8567271500 MAIL ADDRESS: STREET 1: 520 FELLOWSHIP ROAD STREET 2: SUITE A114 CITY: MT LAUREL STATE: NJ ZIP: 08054 FORMER COMPANY: FORMER CONFORMED NAME: SGL INDUSTRIES INC DATE OF NAME CHANGE: 19841008 FORMER COMPANY: FORMER CONFORMED NAME: GL INDUSTRIES INC DATE OF NAME CHANGE: 19710111 FORMER COMPANY: FORMER CONFORMED NAME: GL ELECTRONICS CO INC DATE OF NAME CHANGE: 19670928 8-K 1 form8k05380_10222010.htm form8k05380_10222010.htm
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): October 22, 2010

 
SL Industries, Inc.
(Exact name of registrant as specified in its charter)
     
New Jersey
1-4987
21-0682685
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
     
520 Fellowship Road, Suite A114, Mount Laurel, New Jersey
08054
(Address of principal executive offices)
(Zip Code)

Registrant’s telephone number, including area code: (856) 727-1500

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 (see General Instruction A.2. below):

o 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.
 
(e)           On October 14, 2010, SL Industries, Inc. (the “Company”) and James Taylor, the Company’s former Chief Executive Officer, who, as previously disclosed, ceased to be employed by the Company as of June 14, 2010, entered into a Separation Agreement and Mutual Release (the “Taylor Agreement”) that became effective on October 22, 2010.  In exchange for Mr. Taylor’s release of claims and other covenants and considerations set forth in the Taylor Agreement, Mr. Taylor will receive, among other things: (a) a payment of $31,550 (minus applicable taxes and withholdings) as compensation for earned but unused vacation days, (b) severance pay in the amount of $500,000 (minus applicable taxes and withholdings), and (c) pursuant to that cert ain bonus agreement, dated on or about August 5, 2002, between the Company and Mr. Taylor, a payment of $218,597.81 (minus applicable taxes and withholdings).
 
On October 20, 2010, the Company and David Nuzzo, the Company’s former Chief Financial Officer, who, as previously disclosed, ceased to be employed by the Company as of June 14, 2010, entered into a Separation Agreement and Mutual Release (the “Nuzzo Agreement”) that became effective on October 28, 2010.  In exchange for Mr. Nuzzo’s release of claims and other covenants and considerations set forth in the Nuzzo Agreement, Mr. Nuzzo will receive, among other things: (a) a payment of $8,669 (minus applicable taxes and withholdings) as compensation for earned but unused vacation days and (b) severance pay in the amount of $274,166.67 (minus applicable taxes and withholdings).
 
Mr. Taylor and Mr. Nuzzo and the Company agreed to mutual releases, and Messrs. Taylor and Nuzzo also agreed to confidentiality provisions and certain restrictive covenants, among other things.
 
 
 
 
 
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.


   
   SL Industries, Inc.
   
         (Registrant)
   
Date:  October 28, 2010
  
   
   
   
 
By:
/s/ Louis Belardi
   
Name:
Louis Belardi
   
Title:
Chief Financial Officer


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