SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) August 9, 1995
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MANAGEMENT TECHNOLOGIES, INC.
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Exact name of Registrant as specified in its Charter)
NEW YORK
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(State of other jurisdiction of incorporation)
0-17206 13-3029797
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Commission File No. I.R.S. Employer
Identification
630 Third Avenue, New York, NY 10017
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Address of principal Zip Code
executive offices
(212) 983 5620
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Registrant's telephone
number, including area code
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ITEM 5. OTHER EVENTS
The Registrant ("the Company") completed an Agreement
on August 9, 1995 with its former Chairman and Chief Executive
Officer, Anthony J. Cataldo ("Cataldo").
The Company entered into a Separation and Release
Agreement with Cataldo, wherein the Company agreed to retain Mr.
Cataldo as an independent financial consultant at the rate of
$25,000 per month (an aggregate of $300,000) for a period of one
(1) year, in addition to paying Mr. Cataldo vacation and expenses
due to him.
In addition, as a part of the Agreement, the Company
loaned Mr. Cataldo the sum of $280,000 to purchase 212,700 shares
of Common Stock of the Company. Mr. Cataldo issued a non-
recourse Promissory Note, which provides that the Note is to be
paid from the sale of shares by Mr. Cataldo and that, in the
event there is any deficiency in the payment due to the Company,
the Company's only recourse is to look to shares pledged to it.
The Company has agreed to provide registration rights for the
shares. The shares are subject to an Escrow Pledge Agreement.
Mr. Cataldo will continue as a Director of the Company
and does not have any disagreement with the Company's policies or
practices.
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EXHIBITS
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a) Copy of Separation Agreement and Release;
b) Copy of Non-Recourse Promissory;
c) Copy of Escrow Pledge Agreement.
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SIGNATURES
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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.
Dated: New York, New York
August 10, 1995
MANAGEMENT TECHNOLOGIES, INC.
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(Registrant)
/s/ S. Keith Williams
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KEITH WILLIAMS,
President and Chief Operating Officer
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