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 1, 2010
IEC
ELECTRONICS CORP.
(Exact
Name of Registrant as Specified in its Charter)
Delaware
(State or
Other Jurisdiction of Incorporation)
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0-6508
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13-3458955
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(Commission
File Number)
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(IRS
Employer Identification No.)
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105
Norton Street, Newark, New York 14513
(Address
of principal executive offices)(Zip Code)
(315)
331-7742
(Registrant’s
Telephone Number, Including Area Code)
Not
Applicable
(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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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Effective October 1, 2010, IEC
Electronics Corp. (the “Company”) entered into the First Amendment (“Amendment”)
to the Employment Agreement, dated as of April 24, 2009 (the “Agreement”)
between the Company and W. Barry Gilbert. Pursuant to the Amendment,
Mr. Gilbert’s term as Chief Executive Officer is extended until December 31,
2013, or until such date as mutually be agreed by the parties (the “CEO Term”)
and his base salary is increased to $296,800, which will be subject to annual
review for increases. In addition, the Amendment continues to provide
that following the expiration of the CEO Term, Mr. Gilbert will be employed by
the Company as an advisor to the Board of Directors (the “Board”) until December
31, 2020, during which period he will receive annual compensation of
$89,286. Mr. Gilbert has been the Company’s Chief Executive Officer
since June 2002.
The foregoing description of the
Amendment is qualified in its entirety by the terms of the Amendment, a copy of
which is filed herewith as Exhibit 10.1 and is
incorporated by reference herein.
Item 9.01 Financial
Statements and Exhibits
(d) Exhibits
10.1 First
Amendment, dated September 17, 2010 and effective October 1, 2010, to the
Employment Agreement, dated April 24, 2009 between the Company and W. Barry
Gilbert.
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.
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IEC Electronics
Corp. |
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(Registrant) |
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Date: October
1, 2010
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By:
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/s/
W. Barry Gilbert |
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W.
Barry Gilbert |
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Chairman,
Chief Executive Officer |
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