VSR Versar, Inc. (delisted)

Item 8.01 Other Events.

As previously disclosed in the Form 10-Q for the quarter ended April 1, 2016 (the “Form 10-Q”) by Versar, Inc. (the “Company”), on May 12, 2016, the Company, certain of its subsidiaries and Bank America. N.A. (the “Lender”) as the lender and letter of credit issuer for a revolving credit facility in the amount of $25 million and a term facility in the amount of $5 million entered into a Forbearance Agreement pursuant to which the Lender agreed to forbear from exercising any and all rights or remedies available to it under the Loan Agreement and applicable law related to certain covenant defaults for a period ending on the earliest to occur of: (a) a breach by the Company of any obligation or covenant under the Forbearance Agreement, (b) any other default or event of default under the Loan Agreement or (c) June 1, 2016 (the “Forbearance Period”).

On May 26, 2016, the Company, certain of its subsidiaries and the Lender entered into a Second Forbearance Agreement that supersedes the original Forbearance Agreement and extends the Forbearance Period to June 30, 2016, in consideration of the on-going efforts of the Company to work with the Lender in resolving such defaults. The Second Forbearance Agreement also reflects the addition of the Asset Coverage Ratio, as disclosed in the Form 10-Q, to the definition of the Acknowledged Events of Default. No other changes to the terms and conditions were made.