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ANLY > SEC Filings for ANLY > Form 8-K on 26-Aug-2008All Recent SEC Filings

Show all filings for ANALYSTS INTERNATIONAL CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for ANALYSTS INTERNATIONAL CORP


26-Aug-2008

Change in Directors or Principal Officers, Financial Statements and E


Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.

(e) Analysts International Corporation (the "Company") and Randy W. Strobel, 41, entered into an Employment Agreement (the "Agreement") on August 8, 2008, with an effective date of August 25, 2008, which provided that Mr. Strobel would be employed as Senior Vice President and Chief Financial Officer of Analysts International Corporation (the "Company"). The Agreement further provided that on or about August 25, 2008, Mr. Strobel would be granted options to purchase 250,000 shares of the Company's Common Stock, with one quarter vesting immediately upon the date of the grant and the remainder vesting upon the anniversary date of the grant in even increments over three years from the date of the grant (previously filed as Exhibit 10.1 to Current Report on Form 8-K, filed August 12, 2008, Commission File No. 0-4090 and incorporated by reference).

On August 25, 2008, pursuant to the Agreement and the Company's 2004 Equity Incentive Plan, the Company and Mr. Strobel executed an Incentive Stock Option Agreement (the "Option Agreement"), which granted Mr. Strobel the option to purchase 250,000 of the Company's Common Stock at the closing price of the Common Stock on the NASDAQ Global Market on August 25, 2008, which was $1.28 per share.

Pursuant to the Option Agreement, one quarter of the total 250,000 stock options granted (62,500 options) vested immediately on the date of the grant. The remaining options will vest in quarters (of 62,500 options each) on the anniversary date of the grant (on August 25, 2009, August 25, 2010 and August 25, 2011).

The foregoing description of the Option Agreement is merely intended to be a summary of the Option Agreement and is qualified in its entirety by reference to the Option Agreement. The Option Agreement, attached to this Current Report as Exhibit 10.1, is incorporated by reference as if fully set forth herein.




Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

            Exhibit Number Description

            10.1           Incentive Stock Option Agreement between
                           Analysts International Corporation and
                           Randy W. Strobel ("Agreement"), fully
                           executed on August 25, 2008.

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