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 23, 2008

 

CHYRON CORPORATION

(Exact Name of Registrant as Specified in its Charter)

New York

1-9014

11-2117385

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(I.R.S. Employer

Identification No.)

5 Hub Drive

 

Melville, New York

11747

(Address of Principal Executive Offices)

(Zip Code)

Registrant's telephone number, including area code: (631) 845-2000

 

 

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 1.01 Entry into a Material Definitive Agreement

On May 23, 2008, Chyron Corporation (the "Company") and Michael C. Wheeler, a member of the Company's Board of Directors and Chairman of the Corporate Governance and Nominating Committee, entered into a general agreement for consulting services with respect to various activities of the Company, including but not limited to the development of new multi-media products and services arising from Company's acquisition of the assets of AXIS Graphics and the introduction and presentation of AXIS products and services to TV station groups, TV networks, newspaper, radio and online groups. Mr. Wheeler will be paid a fee of $10,000 per month during the term of the agreement, which terminates on December 31, 2008. A copy of the agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

10.1 General Agreement for Consulting Services between Chyron Corporation and Michael C. Wheeler, dated May 23, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

CHYRON CORPORATION

 

By:

/s/ Jerry Kieliszak

 

Name:

Jerry Kieliszak

 

Title:

Senior Vice President and

 

 

Chief Financial Officer

Date: May 29, 2008

Exhibit No.

Description

 

 

10.1

General Agreement for Consulting Services between Chyron Corporation and Michael C. Wheeler, dated May 23, 2008.

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