Form 8-K for eMagin Corporation
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 (Date of earliest event reported): May 17, 2007
eMagin
Corporation
(Exact
name of registrant as specified in its charter)
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Delaware
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000-24757
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56-1764501
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(State
or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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10500
N.E. 8th Street,
Suite 1400, Bellevue, WA 98004
(Address
of principal executive offices and Zip Code)
Registrant's
telephone number, including area code (425)-749-3600
Copies
to:
Richard
A. Friedman, Esq.
Sichenzia
Ross Friedman Ference LLP
61
Broadway, 32nd
Floor
New
York,
New York 10006
Phone:
(212) 930-9700
Fax:
(212) 930-9725
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))
ITEM
1.01. Entry into a Material Definitive Agreement.
Pursuant
to Amendment # 2, to the Nonexclusive Field of Use License Agreement dated
March
29, 1999 (the “License Agreement”), between Eastman Kodak Company (“Kodak”) and
eMagin Corporation (the “Company”), the License Agreement was amended to provide
that the Company will, subject to the terms of the License Agreement, as
amended, grant to Kodak a fully paid-up, irrevocable, exclusive, world-wide
license to one of the patents acquired by the Company in OLED technology (the
“Licensed Patent”). Additionally, Amendment # 2, provides that in exchange for
the Licensed Patent, the License Agreement was amended to provide for a
reduction of the royalty payments owed to Kodak by the Company pursuant to
the
License Agreement.
In
connection with the execution of Amendment #2, the holders of all of the
Company’s 6% Senior Secured Convertible Notes due 2007-2008, under the Note
Purchase Agreement dated July 21, 2006, consented to the release of the Licensed
Patent from the collateral being held pursuant to the Security Agreements
entered into July 21, 2006 in connection with the sale of the secured notes
pursuant to the Note Purchase Agreement.
ITEM
9.01. Financial Statements and Exhibits.
(c)
Exhibits. The following documents are filed as exhibits to this report:
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10.1
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Amendment
# 2 to the Nonexclusive Field of Use License Agreement dated March
29,
1999 by and between Eastman Kodak Company, and eMagin
Corporation
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10.2
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Form
of Consent of the Holders of the 6% Senior Secured Convertible Note
Purchase Agreements dated July 21,
2006
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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
hereunto duly authorized.
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EMAGIN
CORPORATION |
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| Date: May
22,
2007 |
By: |
/s/ John
Atherly |
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John
Atherly |
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Chief
Financial Officer
Principal
Accounting Officer
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