Business Context and Reporting Period
This Form 8-K Current Report was filed by Aerovironment, Inc. on December 17, 2009. The filing reports on a material definitive agreement entered into on the same date between the Company and Charles R. Holland, one of its directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a specific contractual agreement rather than periodic financial performance.
Material Changes and Agreements
- Amendment to Consulting Agreement: The Company and Mr. Holland executed Amendment No. 2 to their Standard Consulting Agreement, extending the term of the agreement until December 31, 2012.
- New Task Order: A task order was issued for Mr. Holland to provide 60 days of general marketing support for unmanned air vehicle systems over an anticipated twelve-month period.
- Compensation Rate: The agreed rate for the marketing support services is $3,500 per day.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding future financial guidance, outlook, risks, contingencies, or unusual items. The document is limited to the disclosure of the consulting agreement details.
Investor Verification Points
- Verify the total potential cost of the task order (60 days at $3,500/day equals $210,000) relative to the company's current cash position.
- Review the full text of Amendment No. 2 and Task Order # FY-10-001 filed as Exhibits 10.27 and 10.28 for additional terms not summarized here.
- Confirm the specific scope of "general marketing support" to assess the strategic value of the engagement.