Current Report Filing (8-k)

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 (Date of earliest event reported):	May 29, 2014

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Competitive Technologies, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-08696

36-2664428

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)


1375 Kings Highway East, Fairfield, Connecticut	06824
(Address of principal executive offices)	(Zip Code)


Registrant's telephone number, including area code:	(203) 368-6044

N/A

(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

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 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

On May 22, 2014, Competitive Technologies, Inc. (the “Company”) announced the appointment of Ian Rhodes as Chief Financial Officer of the Company. Mr. Rhodes will replace Mr. Mir (CEO), who held the position on an interim basis.

Ian Rhodes, age 42, served as vice president, chief accounting officer and treasurer with Arch Capital in White Plains, NY, where he spearheaded Arch's International Financial Reporting Standards (IFRS) implementation efforts and subsequently provided oversight of SEC and GAAP technical accounting matters. Earlier, Mr. Rhodes served as senior audit manager for PricewaterhouseCoopers LLP in NYC and Los Angeles. In that capacity, he was lead manager for one of the three New York Insurance Practice teams, assisting practice leaders to set practice direction, deploy resources and address other practice matters. He managed teams of more than 20 professionals across multiple locations.

Mr. Rhodes has a Bachelor of Science degree in Business Administration from Seton Hall University.

Family Relationships

There are no family relationships between Mr. Rhodes and any previous officers or directors of the Company.

Related Party Transactions

Except as disclosed below in “Employment Agreements”, there are no related party transactions reportable under Item 5.02 of Form 8-K or Item 404(a) of Regulation S-K.

Employment Agreements

The Company does not have an employment agreement with Mr. Rhodes. However, in connection with Mr. Rhodes’ appointment, the Company and Mr. Rhodes have agreed to terms to be memorialized in an agreement. The agreed upon terms include a base salary of One Hundred and Sixty Thousand Dollars ($160,000) per annum, bonus eligibility equal to thirty percent (30%) of Mr. Rhodes’ base salary, payable annually, subject to meeting goals and objectives created by the Company’s Board of Directors. Additionally, Mr. Rhodes shall be granted three hundred thousand (300,000) stock options. These terms are subject to modification until a formal employment agreement is executed.

Item 8.01 Other Events.

Change in Officers

On May 22, 2014, the Company issued a press release announcing Mr. Rhodes’ appointment as Chief Financial Officer, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description of Exhibit
99.1		Press Release Dated May 22, 2014.

SIGNATURES

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.

Competitive Technologies, Inc.

Date: May 29, 2014

/s/ Conrad Mir

Name: Conrad Mir

Title: Chief Executive Officer

Competitive Technologies Names Ian Rhodes, CPA As New Chief Financial Officer

PR Newswire

FAIRFIELD, Conn., May 22, 2014

FAIRFIELD, Conn., May 22, 2014 /PRNewswire/-- Competitive Technologies, Inc., (OTCQX: CTTC) (CTI), today announced the hiring of Ian Rhodes, CPA, with full responsibility for managing the financial and accounting duties for the Company. Mr. Rhodes will join the executive management team and lead Competitive Technologies' finance and accounting operations from the company's headquarters in Fairfield, CT.

"Ian brings accounting and financial expertise with superior skills in corporate operations and control improvement," said Competitive Technologies President & CEO Conrad Mir. "We strongly believe he can assist in the successful implementation of CTI's corporate reengineering plan and Management's effort to increase shareholder value. He will be a great addition to the team."

Prior to joining CTI, Mr. Rhodes served as vice president, chief accounting officer and treasurer with Arch Capital in White Plains, NY, where he spearheaded Arch's International Financial Reporting Standards (IFRS) implementation efforts and subsequently provided oversight of SEC and GAAP technical accounting matters. Earlier, Mr. Rhodes served as senior audit manager for PricewaterhouseCoopers LLP in NYC and Los Angeles. In that capacity, he was lead manager for one of the three New York Insurance Practice teams, assisting practice leaders to set practice direction, deploy resources and address other practice matters. He managed teams of more than 20 professionals across multiple locations.

Mr. Rhodes has a Bachelor of Science degree in Business Administration from Seton Hall University.

About the Company

Competitive Technologies Inc., the pain mitigation company, develops and commercializes innovative wound and pain management products and technologies. CTI holds the 510k clearance on its flagship product, the non-invasive Calmare^® Pain Therapy Device, which grants it an exclusive right to sell, market, research and develop the medical device. The Company is the exclusive licensed global distributor of Calmare.

Forward-Looking Statement

Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.

Contacts:
Competitive Technologies, Inc.	JV Public Relations
Conrad Mir	Janet Vasquez
President and CEO	Managing Director
cmir@competitivetech.net	jvasquez@jvprny.com
973.798.8882	212.645.5498