Katy Industries, Inc. Form 8-K dated January 8, 2007
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): January 8, 2007
Katy
Industries, Inc.
(Exact
name of registrant as specified in its charter)
|
Delaware
|
001-05558
|
75-1277589
|
|
(State
of Incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
2461
South Clark Street, Suite 630
Arlington,
Virginia 22202
(Address
of principal executive offices) (Zip Code)
(703)
236-4300
(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
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
[
]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
Item
1.01 Entry
into a Material Definitive Agreement.
The
information contained in Item 5.02 is incorporated herein by reference.
Item
5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
Effective
January 5, 2007, Katy Industries, Inc. announced the resignation of David S.
Rahilly as President, Woods Industries, Inc. and Vice President, Global
Sourcing. In connection with his resignation, Katy Industries, Inc. entered
into
a General Release and Settlement Agreement with Mr. Rahilly, a copy of which
is
filed as Exhibit 99.1. Pursuant to the terms of such General Release and
Settlement Agreement, Mr. Rahilly agreed to release Katy Industries, Inc. from
any claims relating to his employment or termination of employment with Katy
Industries, Inc. In consideration for such release, Katy Industries, Inc. agreed
to pay Mr. Rahilly payments in the amount of $9,615.39, less deductions for
payroll taxes, on a bi-weekly basis for a six (6) month period beginning on
a
date within fourteen days of January 4, 2007.
Item
9.01 Financial
Statements and Exhibits.
(d) Exhibits.
Exhibit
99.1 General
Release and Settlement Agreement with David S. Rahilly dated January 5,
2007
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.
KATY
INDUSTRIES, INC.
(Registrant)
By:
/s/
Amir Rosenthal
Amir
Rosenthal
Vice
President, Chief Financial Officer,
General
Counsel and Secretary
Date:
January 8, 2007
Exhibits
Exhibit
No. Description
99.1 General
Release and Settlement Agreement with David S. Rahilly dated January 5,
2007