- Current report filing (8-K)
July 08 2010 - 2:15PM
Edgar (US Regulatory)
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
Date
of Report – July 1, 2010
(Date
of earliest event reported)
MACE
SECURITY INTERNATIONAL, INC.
(Exact
name of registrant as specified in its charter)
Delaware
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0-22810
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03-0311630
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer
Identification Number)
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240 Gibraltar Road, Suite 220, Horsham, Pennsylvania 19044
(Address
of principal executive offices) (Zip Code)
(267) 317-4009
(Registrant’s
telephone number, including area code)
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 to Form 8-K):
⃞
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 8.01
Other Events
.
Louis D. Paolino, Jr., the former Chairman and CEO of Mace Security
International, Inc.(“Mace” or the “Company”) filed an action in Delaware
Superior Court, New Castle County, against three members of the Board of
Directors of the Company, John C. Mallon, Dennis Raefield and Gerald
LaFlamme. The action alleges that the three defendants engaged in
fraudulent and conspiratorial conduct in wrongfully terminating Mr.
Paolino in 2008, and seeks damages of $3,815,000 allegedly due under Mr.
Paolino’s employment agreement. On July 1, 2010, counsel for the three
directors agreed to accept service of the complaint, which was filed on
June 16, 2010. The three individual directors intend to vigorously
defend this action.
As previously reported on Forms 8-K filed on June 7, 2010 and June 9,
2010, respectively, the Company filed a motion in the U.S. District
Court, Eastern District of Pennsylvania on June 3, 2010 to vacate an
arbitration award entered against the Company, which awarded Mr. Paolino
$4,148,912 plus attorneys’ fees and reinstated 1,769,682 stock options
held by Mr. Paolino through July 15, 2010, and Mr. Paolino filed a
motion in the Court of Common Pleas of Philadelphia Country,
Pennsylvania to confirm the arbitration award.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
Dated:
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July 8, 2010
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Mace Security International, Inc.
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By:
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/s/ Gregory M. Krzemien
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Gregory M. Krzemien
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Chief Financial Officer and
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Treasurer
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