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OPTL.PK > SEC Filings for OPTL.PK > Form 8-K on 28-Jun-2006All Recent SEC Filings

Show all filings for OPTICAL SENSORS INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for OPTICAL SENSORS INC


28-Jun-2006

Entry into a Material Definitive Agreement, Change in Directors or Principal


ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

Executive Officer Stock Option Awards.

On June 22, 2006, Optical Sensors Incorporated's, d.b.a. väsamed (the
"Company's"), Compensation Committee of the Board of Directors granted the
following "named executive officers" of the Company (as defined in Regulation
S-K Item 402(a)(3)) non-statutory stock options under the Company's 2003 Stock
Option Plan in the share amounts provided below.



                                                               Shares Underlying
  Name of Executive Officer:                                         Award
  Paulita L. LaPlante                                               40,000
  President and Chief Executive Officer

  Victor Kimball                                                    20,000
  Chief Operating Officer

  Kent R. Winger                                                    20,000
  Vice President, Strategic Planning and Product Development

Each option has an exercise price of $2.15 per share, vests, on a cumulative basis, in four installments of 25% on each of the first four anniversaries of the option grant date, has a term of ten years and is subject to the terms of the 2003 Stock Option Plan.



ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS

Resignation of Chief Operating Officer

On June 26, 2006, the Company received notice that Victor Kimball, the Company's Chief Operating Officer, has decided to leave his position to pursue other business opportunities. Mr. Kimball will step down as Chief Operating Officer on or about July 21, 2006. The Company does not have any present plans to fill the position.


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