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<SEC-DOCUMENT>0000950123-10-017091.txt : 20100225
<SEC-HEADER>0000950123-10-017091.hdr.sgml : 20100225
<ACCEPTANCE-DATETIME>20100225163114
ACCESSION NUMBER:		0000950123-10-017091
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100222
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100225
DATE AS OF CHANGE:		20100225

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHAMPIONS BIOTECHNOLOGY, INC.
		CENTRAL INDEX KEY:			0000771856
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				521401755
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17263
		FILM NUMBER:		10633982

	BUSINESS ADDRESS:	
		STREET 1:		855 N. WOLFE STREET
		STREET 2:		SUITE 619
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21205
		BUSINESS PHONE:		410-369-0365

	MAIL ADDRESS:	
		STREET 1:		855 N. WOLFE STREET
		STREET 2:		SUITE 619
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21205

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHAMPIONS SPORTS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL GROUP INC
		DATE OF NAME CHANGE:	19860319
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c96778e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">
<DIV style="font-size: 10pt">
<DIV
style="font-size: 1pt; width: 100%; border-bottom: black 2pt solid">&nbsp;</DIV>
<DIV
style="font-size: 1pt; width: 100%; border-bottom: black 1pt solid">&nbsp;</DIV>

<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): February 22, 2010</B>

<P style="font-size: 24pt" align="center"><B>CHAMPIONS BIOTECHNOLOGY,
INC.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>0-17263</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>52-1401755</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

</TABLE>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Science and Technology Park
at Johns Hopkins<BR>
855 N. Wolfe Street, Suite 619, Baltimore, MD<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>21205</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(410) 630-1313</B>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="30%" border="0">

 <TR>
  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid"
nowrap><B>Inapplicable<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">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:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<DIV
style="margin-top: 10pt; font-size: 1pt; width: 100%; border-bottom: black 1pt solid">&nbsp;</DIV>
<DIV
style="font-size: 1pt; width: 100%; border-bottom: black 2pt solid">&nbsp;</DIV>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">1
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><B>INFORMATION TO BE INCLUDED IN THE
REPORT</B>

<P style="font-size: 10pt" align="justify"><B>Item&nbsp;1.01. Entry into a
Material Definitive Agreement.</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">On
February&nbsp;22, 2010, the Compensation Committee (the
&#8220;<B>Committee</B>&#8221;) of the Board of Directors of Champions
Biotechnology, Inc. (the &#8220;<B>Company</B>&#8221;) adopted the Director
Compensation Plan of 2010 (the &#8220;<B>Director Plan</B>&#8221;) to replace
the Company&#8217;s former compensation policy for directors, effective for the
2010 calendar year commencing January&nbsp;1, 2010.

<P style="font-size: 10pt; text-indent: 4%" align="justify">Under the Director
Plan, on January 1 of each year, each independent director, other than the
Chairman, will be granted an automatic award of five-year options to purchase
50,000 shares of the Company&#8217;s Common Stock, par value $0.001 per share
(&#8220;<B>Shares</B>&#8221;) pursuant to the Company&#8217;s 2008 Equity
Incentive Plan (the &#8220;<B>Plan</B>&#8221;) at an exercise price equal to
the last closing price of the Shares prior to the effective date of the grant.
The Chairman will be granted an automatic annual award of five-year options to
purchase 100,000 Shares pursuant to the Plan at an exercise price equal to the
last closing price of the Shares prior to the effective date of the grant. All
of the options vest quarterly at the rate of 25% each calendar quarter over
that calendar year, commencing on the first day of each calendar quarter.

<P style="font-size: 10pt; text-indent: 4%" align="justify">In addition, for
service on one or more Board committees, independent directors (other than the
Chairman) will receive on the first day of each calendar year either a grant of
five-year options to purchase 50,000 Shares at an exercise price equal to the
last closing price of the Shares prior to the effective date of the grant, or,
at the election of the director, 50,000 restricted Shares. The Chairman will
receive for his committee service, on the first day of each calendar year,
either a grant of five-year options to purchase 100,000 Shares at an exercise
price equal to the last closing price of the Shares prior to the effective date
of the grant, or, at the election of the director, 100,000 restricted Shares.
All of these option awards and share grants vest quarterly at the rate of 25%
throughout the calendar year on the first day of each calendar quarter,
commencing on January 1 of each calendar year.

<P style="font-size: 10pt; text-indent: 4%" align="justify">The Company will
also pay each independent director $15,000 to offset the tax liability in
respect of a restricted Shares award, paid 25% each quarter.

<P style="font-size: 10pt; text-indent: 4%" align="justify">For the initial
year of the Director Plan (2010), all initial grants and initial vesting dates
are effective on the date the Plan was adopted (February&nbsp;22, 2010), the
value of the stock is based upon the closing price on the last trading day
prior to adoption of the Plan, and a director may, at his or her election,
elect to receive Committee fees in cash equal to the value of a restricted
Share award.

<P style="font-size: 10pt" align="justify"><B>Item&nbsp;9.01. Financial
Statements and Exhibits.</B>

<P style="font-size: 10pt" align="justify"><I>(d)&nbsp;Exhibits</I>
<P style="font-size: 10pt" align="justify">The following exhibits are filed
herewith:
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="8%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="87%">&nbsp;</TD>
 </TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">Exhibit&nbsp;No. </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
 </TR>
 <TR style="font-size: 1px">
  <TD style="border-top: #000000 1px solid" valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD valign="top" align="center">
<DIV style="margin-left: 0px; text-indent: 0px">10.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Champions Biotechnology, Inc. Director
Compensation Plan of 2010</TD>
 </TR>
<!-- End Table Body -->

</TABLE>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">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 thereunto duly
authorized.

<P style="font-size: 10pt; margin-left: 46%" align="justify"><B>CHAMPIONS
BIOTECHNOLOGY, INC.</B> <BR>
(Registrant)

<P style="font-size: 10pt" align="justify">Date: February&nbsp;22, 2010

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 46%"
align="justify">By:<U> /s/ Mark
Schonau&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;</U><br>Mark Schonau<BR>
Chief Financial Officer

<P style="font-size: 10pt" align="right">&nbsp;

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">3
</DIV>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>c96778exv10w1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 10.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="right"><U><B>Exhibit&nbsp;10.1</B></U>

<P style="font-size: 10pt" align="center"><B>DIRECTOR COMPENSATION PLAN OF
2010<BR>
Approved February&nbsp;22, 2010<BR>
Effective Date: As of
January&nbsp;1, 2010</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">This Director
Compensation Plan has been adopted for independent directors of the Company:

<P style="font-size: 10pt; text-indent: 4%" align="justify">Directors who are
independent directors shall be granted automatically, on the first day of each
calendar year, an option to purchase 50,000 shares of common stock at an
exercise price equal to the last closing price of the common stock prior to the
effective date of the grant. The options shall vest quarterly at the rate of
25% each calendar quarter over that calendar year, commencing on the first day
of each calendar quarter.

<P style="font-size: 10pt; text-indent: 4%" align="justify">For their service
on one or more committees of the Board of Directors, the independent directors
shall be entitled to a grant on the first day of each calendar year of stock
options to purchase 50,000 shares, or, at the election of the director, 50,000
shares of restricted stock, vesting quarterly at the rate of 25% throughout the
calendar year on the first day of each calendar quarter, commencing on January
1 of each calendar year. In addition, the Company shall pay each director
$15,000 to offset their tax liability in respect of the restricted stock, such
amount to be paid quarterly.

<P style="font-size: 10pt; text-indent: 4%" align="justify">For the initial
year of this plan (2010), a director may, at his or her election, elect to
receive the Committee fees, in cash equal to the value of the restricted stock.

<P style="font-size: 10pt; text-indent: 4%" align="justify">The option grant or
restricted stock award to the Chairman of the Board in respect of his
directors&#8217; compensation and committee fees shall be at the rate of twice
the annual grants described above for independent directors, plus $15,000 in
cash to offset any tax liability for restricted stock.

<P style="font-size: 10pt; text-indent: 4%" align="justify">If a director
ceases to be a director at any time during the calendar year, or ceases to be a
committee member during the calendar year, then the options or restricted stock
(plus cash), as the case may be, that have not yet vested shall lapse and shall
not vest or be issued to such person.

<P style="font-size: 10pt; text-indent: 4%" align="justify">All options granted
under this plan shall remain in effect for five years after the date such
options were granted. In the event that the Company engages in an extraordinary
transaction, or in case a tender offer is commenced for shares of the Company
or in the event any person acquires more than 20% of the outstanding stock of
the Company (other than those persons who, as of this date, own a percentage of
the stock equal to or greater than 20%), then all options that have not vested,
and all restricted stock that has not yet vested, shall automatically and
without further action become vested.

<P style="font-size: 10pt; text-indent: 4%" align="justify">All references to
shares that my be issued hereunder, and all outstanding options issued
hereunder, and all shares of restricted stock issued hereunder, shall be
adjusted in the event of any adjustment to, modification of or reclassification
of the capital stock of the Company.

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">4
</DIV>
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