UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
January 26, 2011 (December 31, 2010)
Date of Report (Date of earliest event reported)
AMINCOR, INC.
(Exact name of registrant as specified in its charter)
Nevada 000-49669 30-0658859
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1350 Avenue of the Americas, 24th FL, New York, NY 10019
(Address of principal executive offices) (Zip Code)
(347) 821-3452
(Registrant's telephone number, including area code)
(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:
[ ] 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 240.13a-4(c))
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN
OFFICERS
Pursuant to a unanimous written consent, dated December 31, 2010, the Board of
Directors of the Registrant approved the grant of options to purchase common
stock to John R. Rice, III, President, Joseph F. Ingrassia, Vice-President and
Robert L. Olson, Chief Financial Officer and certain management and employees of
Registrant and certain officers and employees of its subsidiary companies.
Messrs. Rice and Ingrassia, were each granted 42,017 options and Mr. Olson was
granted 36,765 options.
The options granted have an exercise price of $2.80, based on the estimated fair
market value of the Registrant's share price on the date of the grant. The
options vest 50% on the first anniversary of the grant date and 100% on the
second anniversary of the grant date, so long as the optionee is still employed
by the Registrant or its subsidiaries. The options are valid for 5 years from
the grant date and shall expire thereafter. Each optionee will sign a
Non-Qualified Stock Option Agreement with the Registrant which more fully
details the terms and conditions of the grant.
This summary of the Non-Qualified Stock Option Agreement does not purport to be
complete and is subject to, and qualified in its entirety by, the full text of
the Non-Qualified Stock Option Agreement filed as Exhibit 10.1 hereto and
incorporated by reference herein.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) Not Applicable.
(b) Not Applicable.
(c) Not Applicable.
(d) Exhibits
10.1 Form of Non-Qualified Stock Option Agreement, dated
December 31, 2010
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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.
AMINCOR, INC.
Date: January 26, 2011
By: /s/ John R. Rice, III
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John R. Rice, III
President
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