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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 1, 2007
SUPERCONDUCTOR TECHNOLOGIES INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-21074 77-0158076
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
460 Ward Drive, Santa Barbara, CA 93111
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (805) 690-4500
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 below):
[ ] 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))
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On March 1, 2007, we amended our change in control agreement with Adam Shelton,
our Vice President, Product Management and Marketing, to comply with the
deferred compensation rules contained in Section 409A of the Internal Revenue
Code ("IRC") and related treasury regulations. In substance, the amendment
provides that (a) if Mr. Shelton is a "specified employee" as defined in IRC
Section 409A at the time of termination in the event of a change in control, all
severance payments due under the agreement will be paid, and all insurance
coverage due will commence, on the 183rd day after the date of Mr. Shelton's
termination; and (b) the agreement will be otherwise interpreted in accordance
with IRC Section 409A and related treasury regulations.
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SIGNATURES
Pursuant to the requirement 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.
Superconductor Technologies Inc.
Date: March 7, 2007 By: /s/ William J. Buchanan
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William J. Buchanan,
Controller
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