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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
October 12, 2007
Date of report (Date of earliest event reported)
TSR, INC.
(Exact Name of Registrant as Specified in its charter)
Delaware 0-8656 13-2635899
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
400 Oser Avenue, Hauppauge, NY 11788
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(Address of Principal Executive Offices) (Zip Code)
(631) 231-0333
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(Registrant's Telephone Number, Including Area Code)
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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.
[ ] Written communication 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 1.01 Entry into a Material Definitive Agreement.
TSR, Inc. (the `Company") entered into an employment agreement dated
October 12, 2007 and effective as of June 1, 2007 with Joseph Hughes, the
Company's Chairman of the Board, President and Chief Executive Officer. The
employment agreement, for a term of two years, expiring on May 31, 2009,
provides for an annual base salary of $498,000 and an annual bonus equal to 4%
of the Company's pre-tax profits up to $1,000,000 and 6% of pre-tax profits in
excess of $1,000,000, with a maximum bonus of $250,000.
Item 5.02 Departure of Directors of Certain Officers; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers
See Item 1.01.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
Exhibit Number Description
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10.1 Employment Agreement dated October 12, 2007 between the
Company and Joseph Hughes
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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.
TSR, INC.
By: /s/ John G. Sharkey
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Name: John G. Sharkey
Title: Vice President and Secretary
Date: October 16, 2007
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