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): May 18, 1998
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GOVERNMENT TECHNOLOGY SERVICES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-19394 54-1248422
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(State or other (Commission (IRS Employer
jurisdiction of File Identification
incorporation) Number) Number)
4100 Lafayette Center Drive, Chantilly, Virginia 20151-1200
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 703-502-2000
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Item 1. Changes in Control of Registrant
Not Applicable.
Item 2. Acquisition or Disposition of Assets
Not Applicable.
Item 3. Bankruptcy or Receivership
Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant
Not Applicable.
Item 5. Other Events
On May 18, 1998 Government Technology Services, Inc. ("GTSI") entered
into a letter agreement with BTG, Inc. ("BTG") regarding the disposition of
certain inventory ("Surplus Inventory") received by GTSI from BTG after the
closing on the sale to the BTG Technology Systems Division. The letter
agreement supercedes Section 2.10(c) and (d) of the Asset Purchase
Agreement ("APA") entered into on February 12, 1998 between GTSI, BTG and
two of its subsidiaries, for the sale of the BTG Technology Systems
Division. Pursuant to the letter agreement, BTG will invoice GTSI an
aggregate of $3,912,419.58, payable June 30, 1998, which represents the
amount due for any Surplus Inventory. BTG agrees to pay GTSI on June 30,
1998 $1 million, to compensate for any shortfall in the inventory
transferred pursuant to the APA. BTG also agrees to pay GTSI on June 30,
1998 a service fee of $250,000 for the costs associated with the processing
Surplus Inventory.
Item 6. Resignation of Registrant's Directors
Not Applicable.
Item 7. Financial Statements and Exhibits
(c) Exhibits
10.39 Letter Agreement between the Registrant and BTG, Inc.
executed on May 18, 1998.
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, thereunto duly authorized.
Date: May 21, 1997
GOVERNMENT TECHNOLOGY SERVICES, INC.
By: /s/ STEPHEN L. WAECHTER
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Stephen L. Waechter
Senior Vice President and
Chief Financial Officer
INDEX TO EXHIBITS
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EXHIBIT |
NUMBER | DESCRIPTION
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10.39 | Letter Agreement between the Registrant and BTG, Inc.
executed on May 18, 1998
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