UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
Washington,
DC 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):
April
14, 2008
SCOLR
Pharma, Inc.
(Exact
name of registrant as specified in its charter)
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Delaware
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001-31982
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91-1689591
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(State
or other jurisdiction of incorporation)
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(Commission
File No.)
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(I.R.S.
Employer Identification No.)
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3625
132nd Avenue SE, Suite 400
Bellevue,
WA 98006
(Address
of principal executive offices)
(425) 373-0171
(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 (see General Instruction A.2. below):
[ ]
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))
As
used in this current report on Form 8-K, unless the context otherwise requires,
the terms “we,” “us,” “the Company,” and “SCOLR Pharma” refer to SCOLR Pharma,
Inc., a Delaware corporation.
Item
5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
We
entered into new employment agreements with Richard M. Levy, Vice President of
Finance and Chief Financial Officer, and Stephen J. Turner, Vice President of
Research and Development and Chief Technology Officer on April 14, 2008. The new
agreements provide that Messrs. Levy and Turner will continue serving in their
current executive positions on an at will basis at a base salary of $226,800 and
$252,800, respectively. Mr. Levy and Mr. Turner will be eligible to
receive an annual bonus up to 35% of their respective base salaries (as adjusted
from time to time) based on the achievement of certain objectives approved by
the board of directors in its discretion. We may terminate either
agreement for “cause” without notice or compensation to the executive, except
for unpaid base salary and other benefits already earned. If we
terminate the agreement “without cause,” or if the executive resigns for “good
reason,” the executive will receive a lump sum payment equal to 87.5% of his
then current base salary, a bonus equal to 35% of such base salary, accelerated
vesting of any unvested stock options, and continued medical coverage at our
expense for up to one year.
Item
9.01 Financial Statements and Exhibits.
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Exhibit No.
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Description
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10.1
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Executive
Employment Agreement between SCOLR Pharma, Inc. and Richard M. Levy, dated
April 14, 2008
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10.2
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Executive
Employment Agreement between SCOLR Pharma, Inc. and Stephen J. Turner,
dated April 14, 2008
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SIGNATURES
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.
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SCOLR
PHARMA, INC.
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Dated: April
16, 2008
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By:
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/s/
Daniel O. Wilds
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Daniel
O. Wilds
President
and Chief Executive Officer
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