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BLQN.OB > SEC Filings for BLQN.OB > Form 8-K on 29-Oct-2009All Recent SEC Filings

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Form 8-K for BALQON CORP.


29-Oct-2009

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


ITEM 1.01. ENTRY INTO MATERIAL DEFINITIVE AGREEMENT.

On October 23, 2009, Balqon Corporation ("Balqon") held its 2009 Annual Meeting of Stockholders ("Annual Meeting"). At the Annual Meeting, Balqon's stockholders approved the Balqon Corporation 2008 Stock Incentive Plan (the "2008 Plan"). The 2008 Plan is described in Balqon's definitive proxy statement filed with the Securities and Exchange Commission on October 9, 2009 ("Proxy Statement") and such description is incorporated herein by reference.

A copy of the 2008 Plan was filed as Appendix A to the Proxy Statement and is incorporated herein by this reference. The description of the 2008 Plan contained in the Proxy Statement is qualified in its entirety by the terms of the 2008 Plan.



ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

At the Annual Meeting, Balqon's stockholders were asked to consider and vote upon the following proposals:

1. To elect Amarpal Singh Samra as a Class I director to serve a one-year term;

2. To elect Henry Velasquez as a Class II director to serve a two-year term;

3. To elect Balwinder Samra as a Class III director to serve a three-year term;

4. To consider and vote upon a proposal to approve the 2008 Plan; and

5. To consider and vote upon a proposal to ratify the selection of Balqon's independent registered public accountants to audit Balqon's financial statements for 2009 (collectively, the "Proposals").

Each of the Proposals were approved at the Annual Meeting. The disclosure in Item 1.01 is incorporated herein by reference.



ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

Exhibit No.                        Description
   10.1       Balqon Corporation 2008 Stock Incentive Plan
              (incorporated by reference to Annex A to Balqon
              Corporation's definitive Proxy Statement filed with
              the Securities and Exchange Commission on October 9,
              2009).


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