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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) March 6, 2007
KSW, INC.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
001-32865 11-3191686
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(Commission File Number) (IRS Employer Identification No.)
37-16 23rd Street
Long Island City, New York 11101
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(Address of Principal Executive Offices) (Zip Code)
(718) 361-6500
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(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 (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 5.02. DEPARTURE OF DIRECTORS OR CURRENT OFFICERS, ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATION ARRANGEMENTS OF CERTAIN
OFFICERS
I. On March 6, 2007, KSW, Inc. took the following actions with respect to
the compensation of certain of its executive officers:
1. Awarded and paid a performance bonus of $569,957 to Floyd
Warkol, Chief Executive Officer, based on his written
Employment Agreement dated as of January 1, 2006.
2. Established annual base salary compensation, effective as of
January 1, 2007 as follows: Richard W. Lucas, Chief Financial
Officer, $142,500; James F. Oliviero, General Counsel,
$180,000; and Vincent Terraferma, Chief Operating Officer of
KSW's wholly owned subsidiary, KSW Mechanical Services, Inc.
("KSW Mechanical"), $ 200,000.
3. Awarded and paid a performance bonus of $75,000 to Vincent
Terraferma, Chief Operating Officer of KSW Mechanical, based
on 2006 operating results.
4. Awarded and paid bonuses as follows: Richard W. Lucas, Chief
Financial Officer, $30,000 and James F. Oliviero, General
Counsel, $40,000.
II. On March 6, 2007, the Compensation Committee of the Board of Directors
of KSW and Floyd Warkol agreed to extend Mr. Warkol's Employment Agreement,
dated as of January 1, 2006 for an additional two years. Mr. Warkol will
continue to be employed as Chief Executive Officer of KSW and KSW Mechanical
until December 31, 2009, under the same terms and conditions as the current
Employment Agreement.
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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 hereunto duly authorized.
KSW, INC.
By: /s/ FLOYD WARKOL
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Name: Floyd Warkol
Title: Chief Executive Officer
Date: March 7, 2007
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