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) May 22, 1995
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RONSON CORPORATION
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(Exact name of registrant as specified in its charter)
New Jersey 1-1031 22-0743290
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number Identification No.)
Campus Drive, P.O. Box 6707, Somerset, NJ 08875-6707
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(Address of principal executive offices) (Zip Code)
(908) 469-8300
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(Registrant's telephone number, including area code)
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RONSON CORPORATION
FORM 8-K INDEX
ITEM 5. OTHER EVENTS
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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Item 5. Other Events
The Registrant is a party to an employment agreement with Mr.
Louis V. Aronson II, dated December 21, 1978, as amended July 24, 1980,
July 1, 1982, October 11, 1985, July 7, 1988, May 10, 1989, and August
22, 1991. On May 22, 1995, this agreement was amended. The amendment is
attached hereto as Exhibit 1.
Item 7. Financial Statements and Exhibits
a) Financial Statements: None.
b) Exhibits:
1. Amendment dated May 22, 1995, to Employment Agreement of
December 21, 1978, as amended July 24, 1980, July 1, 1982, October 11,
1985, July 7, 1988, May 10, 1989, and August 22, 1991, between Mr. Louis
V. Aronson II and Ronson Corporation.
SIGNATURE
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.
Ronson Corporation
/s/Daryl Holcomb
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Daryl Holcomb
Chief Financial Officer,
Controller and Treasurer
Dated: July 31, 1995
EXHIBIT 1
THIS AGREEMENT made and entered into this 22nd day of
May 1995, by and between RONSON CORPORATION, a corporation of the State
of New Jersey, having its principal place of business at Corporate Park
III, Campus Drive, Post Office Box 6707, Somerset, New Jersey 08875-6707
(hereinafter called the "Corporation"), and LOUIS V. ARONSON II,
residing at P.O. Box 9, Oldwick, New Jersey 08858 (hereinafter called
"Aronson"):
W I T N E S S E T H:
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WHEREAS, the Corporation and Aronson entered into an
Agreement dated December 21, 1978, which was extended and modified by
Agreements dated July 24, 1980, July 1, 1982, October 11, 1985, July 7,
1988, May 10, 1989, and as further amended on August 22, 1991,
concerning Aronson's employment with the Corporation in an executive
capacity as General Manager, President, and Chief Executive Officer of
all domestic and foreign operations; and
WHEREAS, the August 22, 1991 Agreement by its terms
expires on December 31, 1996; and
WHEREAS, the Corporation is cognizant of Aronson's
substantial contribution to the Corporation's operations and the
importance of assuring the continuity of his services in the best
interests of the Corporation; and
WHEREAS, the Corporation wishes to amend the August 22,
1991 Agreement's expiration date from December 31, 1996 to December 31,
1998, and said extension is agreeable to Aronson;
NOW THEREFORE,
For and in consideration of the premises and mutual
covenants and agreements herein contained, the parties agree as follows:
(1) The July 7, 1988 Agreement, and as further amended
on May 10, 1989 and as further amended on August 22, 1991, is hereby
extended for a period of two (2) years as follows:
(a) The Corporation agrees to and does hereby employ
Aronson to do and perform all duties and services of a managerial and
executive character as General Manager, President and Chief Executive
Officer of the Corporation's manufacturing, marketing, financial and
other operations which may be required of Aronson by the Board of
Directors of the Corporation to December 31, 1998. The Corporation
further agrees that this Agreement will continue after December 31, 1998
from year to year -- that is to say, from January 1, 1999 to December
31, 1999 and for each succeeding year following 1999, subject to the
same terms and conditions herein contained unless the employment shall
be terminated by not less than twelve months prior notice in writing
given by either party to the other, or unless the parties agree to a new
employment contract prior to the expiration date. The earliest
termination date, however, shall be December 31, 1998. The Corporation
agrees that Aronson's annual salary shall be payable semi-monthly or
shall be paid as requested by Aronson, with the understanding that the
sum drawn by Aronson shall not on an annual basis exceed the annual base
salary.
(b) In the event of the death of Aronson prior to
the expiration of this Agreement, the Corporation shall pay to the widow
of Aronson (or in the event of her death, to his designated beneficiary
or beneficiaries) the equivalent of two full years compensation
including any of the incentive compensation, deferred or otherwise, that
was payable to Aronson during the year immediately preceding his death.
These sums of money shall be paid in equal quarterly installments over a
period of three years, and until the sums of money have been fully paid
and satisfied, interest on any unpaid balance shall be at the prime
interest rate as determined by Citibank, N.A.
(2) All of the terms, conditions and obligations, as set
forth in the December 21, 1978, July 24, 1980, July 1, 1982, October 11,
1985, July 7, 1988, May 10, 1989, and August 22, 1991 Agreements, shall
continue in full force and effect, except to the extent specifically
modified by this Agreement.
IN WITNESS WHEREOF, the Corporation has caused this
instrument to be executed by its duly authorized officers and its
Corporate seal to be affixed, and Aronson has hereunto set his hand and
seal the day and year first above written.
ATTEST: RONSON CORPORATION
/s/Saul Weisman BY: /s/Justin P. Walder
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WITNESS:
/s/Christina M. Palmieri /s/Louis V. Aronson II
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