UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): February 28, 2005
American Locker Group Incorporated
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(Exact name of registrant as specified in its charter)
Delaware 0-439 16-0338330
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
608 Allen Street, Jamestown, New York 14701
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (716) 664-9600
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 1.01 Amendment of Material Agreements
On February 28, 2005, the Company and the United States Postal Service (the
"USPS") have entered into amendments to the existing contracts under which the
Company sells cluster box units ("CBUs") to the USPS which extend the term of
such contracts through May 31, 2005. The USPS is not required to purchase any
minimum number of CBUs under the terms of such extensions.
On March 1, 2005, the Company and Edward F. Ruttenberg, Chairman and Chief
Executive Officer of the Company, entered into an amendment to the Employment
Agreement between the Company and Mr. Ruttenberg and the Company and Roy J.
Glosser, President, Chief Operating Officer and Treasurer of the Company,
entered into an amendment to the Employment Agreement between the Company and
Mr. Glosser. In light of recent developments regarding the financial impact on
the Company of the award to a competitor of the Company of a long term contract
for CBUs, Mr. Glosser and Mr. Ruttenberg have each agreed to a reduction of 25%
in their respective base compensation under their respective employment
agreements.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits
Exhibit 10.1 Second Amendment dated March 1, 2005 to Employment
Agreement dated November 18, 1999 between
American Locker Group Incorporated and Edward F.
Ruttenberg.
Exhibit 10.2 Third Amendment dated March 1, 2005 to Employment
Agreement dated May 21, 1996 between American
Locker Group Incorporated and Roy J. Glosser.
Exhibit 10.3 Amendment of Solicitation/Modification of Contract
between American Locker Security Systems, Inc. and the
United States Postal Service dated February 28, 2005
Exhibit 10.4 Amendment of Solicitation/Modification of Contract
between Security Manufacturing Corporation and the
United States Postal Service dated February 28, 2005
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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.
AMERICAN LOCKER GROUP INCORPORATED
By: /s/ Edward F. Ruttenberg
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Edward F. Ruttenberg
Chairman and
Chief Executive Officer
Dated: March 4, 2005
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EXHIBIT INDEX
Exhibit 10.1 Second Amendment dated March 1, 2005 to Employment Agreement
dated November 18, 1999 between American Locker Group
Incorporated and Edward F. Ruttenberg.
Exhibit 10.2 Third Amendment dated March 1, 2005 to Employment Agreement
dated May 21, 1996 between American Locker Group Incorporated
and Roy J. Glosser.
Exhibit 10.3 Amendment of Solicitation/Modification of Contract between
American Locker Security Systems, Inc. and the United States
Postal Service dated February 28, 2005
Exhibit 10.4 Amendment of Solicitation/Modification of Contract between
Security Manufacturing Corporation and the United States Postal
Service dated February 28, 2005
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