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): April 27, 2007
Blonder Tongue Laboratories, Inc.
(Exact Name of registrant as specified in its charter)
Delaware 1-14120 52-1611421
(State or other Commission File (I.R.S. Employer
jurisdiction of incorporation) Number) Identification No.)
One Jake Brown Road, Old Bridge, New Jersey 08857
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (732) 679-4000
Not Applicable
(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:
[_] 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. COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
"Pool Percentages" for Named Participants under Bonus Plan
As previously reported on a Form 8-K dated January 31, 2007, on January 31,
2007 the Compensation Committee of the Board of Directors of Blonder Tongue
Laboratories, Inc. (the "Company") determined that the following executive
officers would be participants in the Blonder Tongue Executive Officer Bonus
Plan for the fiscal year ending December 31, 2007 ("Bonus Year"): Peter Daly,
Alan Horvath, James A. Luksch, Kant Mistry, Emily Nikoo, Robert J. Palle, Jr.,
Eric Skolnik, and Norman Westcott (each a "Plan Participant", and collectively,
the "Plan Participants").
The Plan Participants will be entitled to share in a Bonus Pool based upon
a subjectively determined allocation, which allocation is set forth in the table
below. As also previously reported, the Bonus Pool will be equal to the sum of
(i) forty percent (40%) of the first $1,000,000 (or portion thereof) of the
Company's pre-tax income, plus (ii) twenty percent (20%) of the Company's
pre-tax income, in excess of $1,000,000, but less than or equal to $2,000,000,
plus (iii) ten percent (10%) of the Company's pre-tax income, in excess of
$2,000,000, all as set forth on the Company's audited financial statements for
the Bonus Year (in all cases calculated before taking into account any accrual
for such Bonus Pool); provided, however, that in no event will the Bonus
Pool exceed the sum of the Base Salary (as defined below) of all Plan
Participants, in the aggregate. The maximum bonus that may be paid to any Plan
Participant, regardless of the size of the Bonus Pool, is 100% of the Plan
Participant's base salary as of January 1 in any Bonus Year ("Base Salary").
Also, no bonus will be paid to any Plan Participant unless the Bonus Pool equals
or exceeds $90,000. Pursuant to the terms of the Executive Officer Bonus Plan,
the Compensation Committee has full authority to decrease the amount that would
otherwise be payable to any participant for the Bonus Year.
On April 27, 2007, the Compensation Committee determined the allocations of
the Bonus Pool among the Plan Participants, which allocations are also known as
the Pool Percentage. The Pool Percentage for each Plan Participant is as
follows:
- ------------------------------ ---------------------------------
Name Pool Percentage
- ------------------------------ ---------------------------------
Peter Daly 0.0845
- ------------------------------ ---------------------------------
Alan Horvath 0.0873
- ------------------------------ ---------------------------------
James Luksch 0.2423
- ------------------------------ ---------------------------------
Kant Mistry 0.0877
- ------------------------------ ---------------------------------
Emily Nikoo 0.0909
- ------------------------------ ---------------------------------
Robert Palle 0.1475
- ------------------------------ ---------------------------------
Eric Skolnik 0.0903
- ------------------------------ ---------------------------------
Norman Westcott 0.0821
- ------------------------------ ---------------------------------
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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.
BLONDER TONGUE LABORATORIES, INC.
By: /s/ Erick Skolnik
Eric Skolnik
Senior Vice President and
Chief Financial Officer
Date: May 3, 2007
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