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) March 31, 2006
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AIR METHODS CORPORATION
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(Exact name of Registrant as Specified in Its Charter)
Commission file number 0-16079
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Delaware 84-0915893
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(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification Number)
7301 South Peoria, Englewood, Colorado 80112
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (303) 792-7400
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Former Name, Former Address and Former Fiscal Year, if Changed Since Last
Report: N/A
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. ENTRY INTO MATERIAL DEFINITIVE AGREEMENT
On March 31, 2006, Air Methods Corporation (the Company) entered into a
Collective Bargaining Agreement (CBA) with the Office and Professional Employees
International Union, Local 109, (the Union) representing the Company's pilots.
The agreement is effective from January 1, 2006, through April 30, 2009.
The CBA establishes procedures for training, addressing grievances, discipline
and discharge, among other matters, and defines vacation, holiday, sick, health
insurance, and other employee benefits. The CBA also establishes wage scales,
including adjustments for geographic locations, covering each year of the
agreement. Significant changes from the Company's previous wage rates or
benefits are as follows:
- - Increases in initial base pay rates, dependent upon each pilot's level of
seniority.
- - Increase in pay for overtime shifts from regular pay rates to 1.5 times
regular pay rates.
- - Increase in Company contributions to defined contribution retirement plans
(401k plans). The Company has maintained two 401k plans. Under one plan,
the Company contributed 2% of gross pay for all eligible employees and
matched 60% of the employees' contributions up to 6% of their gross pay.
Under the other plan, the Company matched 30% of the employees'
contributions up to 6% of their gross pay. The CBA provides for Company
contributions up to 5.6% of gross pay to both 401k plans, depending on the
level of each employee's participation.
A copy of the Collective Bargaining Agreement is filed herewith as Exhibit 10.1.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
The following exhibits are filed as part of this report:
10.1 Collective Bargaining Agreement by and between Air Methods Corporation and
Office and Professional Employees International Union, Local 109, from
January 1, 2006, through April 30, 2009
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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 thereunto duly authorized.
AIR METHODS CORPORATION
Date: April 5, 2006 By \s\ Aaron D. Todd
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Chief Executive Officer
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