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): August 22, 2007
VICON
INDUSTRIES, INC.
(Exact
name of registrant as specified in its charter)
|
New
York
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1-7939
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11-2160665
|
|
(State
of Incorporation or
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(Commission
File Number
|
(IRS
Employer
|
|
Organization)
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Identification
No.)
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89
Arkay Drive, Hauppauge, New York
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11788
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(631) 952-2288
(Registrant's
telephone number, including
area code)
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:
[
] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[
] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[
] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[
] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
ITEM
5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On
August
22, 2007, the Compensation Committee of the Board (the “Committee”) agreed to
enter into a new one-year employment agreement with Kenneth M. Darby, the
Company’s Chief Executive Officer, to expire on September 30, 2008. The terms of
the new agreement provide for a $75,000 increase in Mr. Darby’s annual base
salary to $400,000 effective October 1, 2007. A copy of such agreement is filed
as an exhibit to this Form 8-K and is incorporated into this Item 5.02 by this
reference.
In
addition, the Committee approved an amendment to Mr. Darby’s performance-based
bonus plan for fiscal year 2007 whereby he will earn a minimum of $300,000
for
achievement of a certain expected annual profit.
ITEM
9.01. FINANCIAL STATEMENTS AND EXHIBITS
(c)
Exhibits
Exhibit
No. Description
|
10.1
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Employment
Agreement dated August 28, 2007 between the Registrant and Kenneth
M.
Darby.
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SIGNATURE
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.
Dated: September
7, 2007
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VICON
INDUSTRIES, INC.
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(Registrant)
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By:
/s/ John M. Badke
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John
M. Badke
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Senior
Vice President, Finance and
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Chief Financial Officer
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EXHIBIT
INDEX
Exhibit Description
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10.1
|
Employment
Agreement dated August 28, 2007 between the Registrant and Kenneth
M.
Darby.
|