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): September 22, 2005
HOME PRODUCTS INTERNATIONAL, INC.
(Exact name of Registrant as Specified in Its Charter)
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| Delaware
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0-17237
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36-4147027 |
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| (State or Other Jurisdiction of
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(Commission
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(I.R.S. Employer |
| Incorporation)
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File Number)
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Identification No.) |
4501
West 47th Street
Chicago, IL 60632
(Address of principal executive offices) (Zip Code)
(773) 890-1010
(Registrant’s
telephone number, including area code)
(Former
name or former address, if changed since last report)
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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12(b))
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
On
September 22, 2005, Home Products International, Inc. (the “Company”) and F. Randall Chambers, the
Company’s former President of North American Sales, entered into Amendment No. 1 to Employment
Agreement (the “Amendment”), amending Sections 4.02(c) and 4.02(d) of that certain Employment
Agreement dated January 3, 2005, by and between the Company and Mr. Chambers, and previously filed
on January 6, 2005 as Exhibit 10.1 to the Company’s Current Report on Form 8-K. Pursuant to the
Amendment, Mr. Chambers shall receive severance payments equal to $195,000 in the aggregate, and is
entitled to obtain continuation of medical insurance coverage for 18 months. The Amendment also
terminated outstanding options held by Mr. Chambers.
The foregoing summary is a description of certain terms of the Amendment and is qualified in
its entirety by the text of the Amendment attached as Exhibit 10.1 to this Current Report on Form
8-K.
Item 9.01 Financial Statements and Exhibits.
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(a)
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Financial Statements of Business Acquired – Not Applicable |
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(b)
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Pro Forma Financial Information – Not Applicable |
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(c)
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Exhibits |
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Exhibit No. |
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Exhibit |
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10.1 |
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Amendment No. 1 to Employment Agreement dated September 22, 2005, by and
between Home Products International, Inc. and F. Randall Chambers. |
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.
Date: September 28, 2005
HOME PRODUCTS INTERNATIONAL, INC.
(Registrant)
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By: |
/s/
Douglas Ramsdale
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Name: |
Douglas Ramsdale |
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Title: |
Chief Executive Officer |
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