altair_8k-090508.htm
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): September 5,
2008
Altair
Nanotechnologies Inc.
(Exact
Name of Registrant as Specified in its Charter)
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Canada
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1-12497
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33-1084375 |
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(State or other
jurisdiction of
incorporation or
organization)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
|
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204
Edison Way
Reno,
NV
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89502 |
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(Address of
Principal Executive Offices)
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(Zip
Code)
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Registrant's
Telephone Number, Including Area Code:
(775)
856-2500
N/A
(Former
name, former address, and formal fiscal year, 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):
| [_] |
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))
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Item
1.01 Entery into a Material Definitive Agreement.
Item
1.03 Termination of a Material Definitive Agreement.
On
September 5, 2008, Altair Nanotechnologies Inc. (the “Company”) entered into a
Separation Agreement and Release of All Claims dated September 6, 2008 (the
“Agreement”) with Jeffrey McKinney, the Company’s former Vice President and Chief Patent
Counsel, under which Mr. McKinney has agreed, at the request of the Company, to
resign from all positions with the Company.
Consistent
with the separation provisions of Mr. McKinney’s employment agreement with the
Company governing a termination by the Company of Mr. McKinney’s employment
without cause, the Agreement includes a release of all claims against the
Company by Mr. McKinney and an affirmation of the noncompetition,
nonsolicitation, invention assignment and nondisclosure covenants in his
employment agreement and related agreements. The Company agrees,
consistent with Mr. McKinney’s employment agreement, to provide to Mr. McKinney
a severance benefit that includes his termination-date base salary for one year,
medical benefits for 18 months and a bonus, payable in January 2009, equal to
60% of Mr. McKinney’s base salary. The Company and Mr. McKinney
have also agreed to negotiate in good faith a short-term consulting agreement to
facilitate the transition of Mr. McKinneys work to other persons.
The
description of the Agreement set forth above is, by its nature, a summary
description and omits certain detailed terms set forth in the underlying
Agreement. The summary set forth above is qualified by the terms and
conditions of the agreement attached as Exhibit 10.1 to this Current
Report.
Item
5.02 Departure of Directors or Principals Officers; Election of Directors;
Appointment of Principal Officers.
Pursuant
to the Agreement described in Item 1.01/1.02 above, Jeffrey McKinney resigned as
Vice President and Chief Patent Counsel of the Company effective September 6,
2008. The information set forth in Iteme 1.01/1.02 is incorporated
herein by reference.
Item
9.01 Financial Statements and Exhibits
(c) Exhibits
10.1 Separation Agreement and Release
of All Claims with Mr. McKinney.
SIGNATURES
Pursuant to the requirements of the
Securities Exchange 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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Dated: September
5, 2008
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Altair
Nanotechnologies Inc.
By /s/
John
Fallini
John Fallini, Chief
Financial Officer
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