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LAWSON PRODUCTS, INC. (Form: 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):   November 13, 2009

LAWSON PRODUCTS, INC.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 0-10546 36-2229304
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
1666 E. Touhy Avenue, Des Plaines, Illinois   60018
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   (847) 827-9666

Not Applicable
______________________________________________
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))

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 13, 2009, Lawson Products, Inc. issued a press release announcing that Ron Knutson will join the company as Senior Vice President and Chief Financial Officer effective November 16, 2009. He will assume the CFO responsibilities from F. Terrence Blanchard, who has served as CFO on an interim basis since 2008. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.

Mr. Knutson, age 46, most recently served as Senior Vice President, Chief Financial Officer of Frozen Food Express Industries, Inc., a publicly traded transportation company, from January 2009 to November 2009. Mr. Knutson served as Vice President, Finance of Ace Hardware Corporation., a wholesale distributor and retail services provider, from 2003 through 2007.

The Company has agreed to pay Mr. Knutson an annual base salary of $280,000. Mr. Knutson will be eligible to participate in the Company’s Annual Incentive Plan, with a 2010 target of 50% of his annu al base salary. The Company will also recommend to the Compensation Committee of the Board of Directors that Mr. Knutson be selected as a Participant in the Company’s Long Term Incentive Plan. Additionally, Mr. Knutson will receive a sign-on bonus of $50,000.





Item 9.01 Financial Statements and Exhibits.

d) Exhibits.

99.1 Press Release issued on November 13, 2009





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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.

         
    LAWSON PRODUCTS, INC.
          
November 13, 2009   By:   Neil E. Jenkins
       
        Name: Neil E. Jenkins
        Title: Executive Vice President, Secretary and General Counsel

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Exhibit Index


     
Exhibit No.   Description
 
99.1
  Press Release issued on November 13, 2009
EX-99.1

LAWSON PRODUCTS ANNOUNCES RON KNUTSON AS
CHIEF FINANCIAL OFFICER

DES PLAINES, ILLINOIS – NOVEMBER 13, 2009 – Lawson Products, Inc. (NASDAQ:LAWS) today announced that Ron Knutson will join the company as Senior Vice President and Chief Financial Officer.

Knutson most recently served as Senior Vice President and CFO of Texas-based Frozen Food Express Industries. He will join Lawson on November 16, 2009, and assume the CFO responsibilities from F. Terrence Blanchard, who has served as CFO on an interim basis since 2008. Blanchard will remain with the company to facilitate a smooth transition.

“We are very excited to have found a seasoned executive of Ron’s caliber to join our leadership team. Ron brings a wealth of experience that will be critical components of our impending strategic initiatives and future growth plans,” noted Thomas Neri, President and Chief Executive Officer of Lawson Products, Inc. “Ron’s background complements the capabilities of our management team and I am confident he will further improve our operating and financial efficiency.”

Ron Knutson stated, “Lawson Products has been a highly respected industrial organization for decades and I am honored to be joining the Lawson team. I look forward to helping the company achieve its long-term strategic objectives.”

Prior to joining Frozen Food Express Industries, Knutson was Vice President of Finance at Ace Hardware Corporation responsible for all CFO related duties. Knutson was also Chief Financial Office/Treasurer of privately held Mascal Electric, Inc. between 1994 and 1995. He began his career with KPMG where he became a Senior Manager during his nine years with the company.

Knutson earned a BS in Accounting from Illinois State University and is a Certified Public Accountant.

About Lawson Products, Inc.

Lawson Products, headquartered in Des Plaines, IL, is a leader in selling and distributing services, systems, and products to the industrial, commercial, and institutional maintenance, repair and operations (MRO) market. The company also manufacturers, sells, and distributes production and specialized component parts, and provides services and systems to original equipment manufacturers (OEMs).

Contact:
Lawson Products, Inc.
Neil E. Jenkins, 847-827-9666 ext. 2208