UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
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
Pursuant To Section 13 or 15(d) Of The Securities Exchange Act Of 1934
Date of report (Date of earliest event
reported) May 27,
2010
| PHOTRONICS, INC. | ||
| (Exact name of registrant as specified in its charter) |
| Connecticut | 0-15451 | 06-0854886 | ||
| (State or other jurisdiction | (Commission | (IRS Employer | ||
| of incorporation) | File Number) | Identification Number) |
| 15 Secor Road, Brookfield, CT | 06804 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant's Telephone Number, including area code (203) 775-9000
| (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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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 1.02 | Entry into Material Definitive Agreement | |
|
On May 21, 2010, Photronics, Inc. (“Photronics”) and
Peter Kirlin, entered into a three year employment agreement for the
position of Senior Vice President, U.S. and Europe dated May 21, 2010. Dr.
Kirlin will receive an annual rate of compensation of $280,000 annually,
paid biweekly. He will receive a company car, plus all related expenses as
per company policy, four weeks annual vacation, and is eligible to
participate in Photronics’ health and insurance plans as described in
Photronics’ handbook. Dr. Kirlin’s Employment Agreement also provides for
certain severance, confidentiality and non-compete
provisions.
On May 21, 2010, Photronics, Inc. (“Photronics”) and
Richelle Burr, entered into a three year employment agreement for the
position of Vice President, General Counsel and Secretary dated May 21,
2010. Ms. Burr will receive an annual rate of compensation of $170,000
annually, paid biweekly. She will receive a company car, plus all related
expenses as per company policy, four weeks annual vacation, and is
eligible to participate in Photronics’ health and insurance plans as
described in Photronics’ handbook. Ms. Burr’s Employment Agreement also
provides for certain severance, confidentiality and non-compete
provisions.
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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.
| PHOTRONICS, INC. |
| (Registrant) |
| DATE: | May 27, 2010 | BY | /s/ Richelle E. Burr | |||
| Richelle E. Burr | ||||||
| Vice President, General Counsel | ||||||
| PHOTRONICS, INC. | ||||||