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): July 25, 2007
_________________
WIDEPOINT CORPORATION
(Exact Name of Registrant as Specified in Charter)
| Delaware |
000-23967 |
52-2040275 |
| (State or Other Jurisdiction of |
(Commission File Number) |
(I.R.S. Employer |
| Incorporation) |
~ |
Identification No.) |
| One Lincoln Centre, Oakbrook Terrace, Illinois |
60181 |
| (Address of Principal Executive Office) |
(Zip Code) |
Registrant’s
telephone number, including area code: (630) 629-0003
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 Principal Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
| |
(i) |
Compensatory
Plan, Contract or Arrangement. |
WidePoint Corporation (the
“Company”) and Daniel E. Turissini, Chief Executive Officer and President
of Operational Research Consultants, Inc., a wholly-owned subsidiary of the Company,
entered into an Addendum, dated as of July 25, 2007 (the “Addendum”), to the Employment and Non-Compete
Agreement (the “Agreement”), which was previously executed between the parties
in October 2004. The Addendum continues the terms of the Agreement and provides
that (i) the Agreement is extended for a fourth and a fifth consecutive annual
period, with such two additional one-year periods commencing on October 25, 2007 and continuing through and
including October 24, 2009; (ii) the Company will make annual payments of
$25,000 to Mr. Turssini for each of the fourth and fifth annual periods from
October 25, 2007 through October 24, 2009, such payments to be made in advance
as of the execution date of the Addendum, but contingent upon Mr. Turissini’s compliance with the
terms of the Addendum; and (iii) a Senior Management Incentive Program will be
separately developed for each of the calendar years 2008 and 2009, including cash and
stock award opportunities tied to performance metrics.
A copy of the Addendum is filed as an
exhibit hereto.
Item 9.01 Financial
Statements and Exhibits
| |
(d) |
Exhibits. The
following exhibit is filed herewith: |
| 10.1 |
Addendum
to Employment and Non-Compete Agreement between the Registrant and Daniel E. Turssini,
effective as of July 25, 2007. |
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.
|
WIDEPOINT CORPORATION |
|
/s/ James T. McCubbin |
| Date: July 27, 2007 |
James T. McCubbin |
|
Vice President and Chief Financial Officer |
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