UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
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): April 24, 2008
MDWERKS,
INC.
(Exact
name of registrant as specified in its charter)
Delaware
(State
or
Other Jurisdiction of Incorporation)
|
333-118155
|
33-1095411
|
|
(Commission
File Number)
|
(IRS
Employer Identification
Number)
|
Windolph
Center, Suite I
1020
N.W.
6th
Street
Deerfield
Beach, FL 33442
(Address
of Principal Executive Offices)
(954)
389-8300
(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 (see General Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14-12)
o Pre-commencement
communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement
communications pursuant to Rule
13-e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
5.02 Departure
of Directors or Principal Officers; Election of Directors; Appointment of
Principal Officers.
(c)
On
April 24, 2008, the Board of Directors of MDwerks, Inc. (the “Company”) approved
a new Employment Agreement effective January 1, 2008 and expiring on December
31, 2010 (“Employment Agreement”) for Stephen M. Weiss, Chief Operating Officer
of the Company. Under the terms of the Employment Agreement the annual base
salary will be One Hundred and Eighty Five Thousand Dollars ($185,000) for
the
calendar year 2008 and, subject to performance acceptable to the Compensation
Committee; Two Hundred Thousand Dollars ($200,000) for calendar year 2009;
and
Two Hundred and Fifteen Thousand Dollars ($215,000) for the calendar year 2010.
There were other modifications made for reimbursement of business expenses.
On
April 29, 2008, Mr.
Weiss
and the Company executed the Employment Agreement document.
The
foregoing discussion of Mr. Weiss’ Employment Agreement is qualified by
reference to the form of Executive Level Employment Agreement between MDwerks,
Inc. and Stephen M. Weiss attached as Exhibit 10.1, which is incorporated
herein.
(d)
On
April 24, 2008, Mr. Shad Stastney and Mr. Chris Phillips were elected to the
Board of Directors of the Company. Mr. Stastney is the Chief Operating Officer
and Head of Research for Vicis
Capital
LLC,
a
company he jointly
founded in 2004. Mr. Phillips joined Vicis Capital LLC in January 2008 as
Managing Director and previously had been President and CEO of Apogee Financial
Investments, Inc., a merchant bank, since August 2004. Messrs. Stastney and
Phillips will not be compensated for their services but will be reimbursed
for
reasonable expenses incurred by them in attending board meetings.
Item
9.01 Financial
Statements and Exhibits.
(d) Exhibits
The
following exhibits are filed as part of this report:
| |
10.1
|
Form
of Executive Level Employment Agreement between MDwerks, Inc. and
Stephen
M. Weiss
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
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MDWERKS,
INC. |
|
|
|
| Date: April
29, 2008 |
By: |
/s/ Howard
B.
Katz |
| |
Howard
B. Katz |
| |
Chief
Executive Officer |
Exhibit
Index
| |
10.1
|
Form
of Executive Level Employment Agreement between MDwerks, Inc. and
Stephen
M. Weiss
|