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BVX > SEC Filings for BVX > Form 8-K on 13-Aug-2013All Recent SEC Filings

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Form 8-K for BOVIE MEDICAL CORP


13-Aug-2013

Other Events


Item 8.01. Other Events

In connection with the previously disclosed litigation pending in the United States District Court for the Middle District of Florida between Bovie Medical Corporation (the "Company") and Leonard Keen, our former Vice President and General Counsel, on August 8, 2013, following a jury trial, the jury returned a verdict in favor of Mr. Keen awarding him $622,500 in severance. In addition, the jury determined that, Mr. Keen's previously issued 110,000 stock options should be reinstated and accelerated, and that the terms of the indemnification provision pertaining to Mr. Keen's service as an employee of the Company contained in Mr. Keen's prior employment agreement is enforceable. Lastly, Mr. Keen was awarded attorney's fees in an amount to be determined by the Court. The Company is presently reviewing our options as they pertain to the verdict.


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