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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950123-10-053692.txt : 20100527
<SEC-HEADER>0000950123-10-053692.hdr.sgml : 20100527
<ACCEPTANCE-DATETIME>20100527161414
ACCESSION NUMBER:		0000950123-10-053692
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100524
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100527
DATE AS OF CHANGE:		20100527

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ULTRALIFE CORP
		CENTRAL INDEX KEY:			0000875657
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				161387013
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20852
		FILM NUMBER:		10862833

	BUSINESS ADDRESS:	
		STREET 1:		2000 TECHNOLOGY PARKWAY
		CITY:			NEWARK
		STATE:			NY
		ZIP:			14513
		BUSINESS PHONE:		3153327100

	MAIL ADDRESS:	
		STREET 1:		2000 TECHNOLOGY PARKWAY
		CITY:			NEWARK
		STATE:			NY
		ZIP:			14513

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ULTRALIFE BATTERIES INC
		DATE OF NAME CHANGE:	19940224
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c01845e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">



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


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

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

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

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): May 24, 2010</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>ULTRALIFE CORPORATION<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<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: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>000-20852</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>16-1387013</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 border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>2000 Technology Parkway, Newark, New York<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>14513</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(315) 332-7100</B>


<TABLE border="0" width="30%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="100%">&nbsp;</TD>
</TR>
<TR>
    <TD nowrap style="border-bottom: 1px solid #000000"><B>&nbsp;</B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">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 align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</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">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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

</DIV>

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

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

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

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P align="left" style="font-size: 10pt"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.</B>


<P align="left" style="font-size: 10pt">On May&nbsp;24, 2010, Ultralife Corporation (the &#147;Company&#148;) entered into an addendum to its employment agreement with John
D. Kavazanjian (the &#147;Addendum&#148;), the Company&#146;s President and Chief Executive Officer. The Company and Mr.&nbsp;Kavazanjian
entered into the Addendum to supplement certain provisions of Mr.&nbsp;Kavazanjian&#146;s employment agreement to reflect, among
other things, that Mr.&nbsp;Kavazanjian may retire. The Addendum gives either Mr.&nbsp;Kavazanjian or the Company the right to
terminate Mr.&nbsp;Kavazanjian&#146;s employment agreement by giving the other party written notice sixty days prior to the
effective date of such termination (such an event is referred to herein as, &#147;Early Termination&#148;).


<P align="left" style="font-size: 10pt">In the event of an Early Termination, Mr.&nbsp;Kavazanjian will be entitled to: (i)&nbsp;the continuation of his salary for a
period of twelve months, (ii)&nbsp;the cash value of any unused vacation days consistent with the Company&#146;s paid time off
policy, (iii)&nbsp;all of his equity awards remaining exercisable through their original expiration date, (iv)&nbsp;having the
Early Termination treated as a retirement under the Company&#146;s equity incentive plans, (v)&nbsp;the continuation of health
benefits for him, his spouse and dependent children for a period of twelve months, and (vi)&nbsp;the ability to earn his
entire 2010 cash bonus in accordance with the Company&#146;s bonus plan, unless an Early Termination occurs prior to
December&nbsp;31, 2010, in such case the cash bonus will be prorated.


<P align="left" style="font-size: 10pt">In the event of an Early Termination, Mr.&nbsp;Kavazanjian must make himself available to act in a consulting capacity for
up to ten hours per month, as requested by the Company, for a period twelve months following the date of his Early
Termination. The Company will reimburse Mr.&nbsp;Kavazanjian for all reasonable expenses he incurs as a result of his
consultation.


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


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibits<I>.</I></TD>
</TR>

</TABLE>



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Addendum to Employment Agreement, dated May&nbsp;24, 2010</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

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

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

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

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">



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



<P align="left" style="font-size: 10pt; text-indent: 4%">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.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="42%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left">Date: May 27, 2010</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap align="left"><B>ULTRALIFE CORPORATION</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Peter F. Comerford</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Peter F. Comerford</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice President of Administration and General Counsel</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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




</DIV>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c01845exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 99.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P align="right" style="font-size: 10pt"><B>Exhibit 99.1</B>

<P align="center" style="font-size: 10pt"><U><B>ADDENDUM TO EMPLOYMENT AGREEMENT </B></U>



<P align="left" style="font-size: 10pt; text-indent: 4%">THIS ADDENDUM TO EMPLOYMENT AGREEMENT (the &#147;Addendum&#148;) is entered into as of May&nbsp;24, 2010 by and between John D.
Kavazanjian, an individual (the &#147;Executive&#148;) and Ultralife Corporation, a Delaware corporation (the &#147;Company&#148;).


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



<P align="left" style="font-size: 10pt; text-indent: 4%">The Company and the Executive entered into an Employment Agreement on July&nbsp;6, 2009 (the &#147;Agreement&#148;).


<P align="left" style="font-size: 10pt; text-indent: 4%">The Company and the Executive desire to modify and supplement certain provisions of the Agreement to reflect,
among other things, that the Executive may retire; this requires an addendum to the Agreement as set forth more fully
below.


<P align="left" style="font-size: 10pt; text-indent: 4%">NOW, THEREFORE, the Company and the Executive hereby agree that the Agreement is modified and supplemented as
follows:


<P align="left" style="font-size: 10pt">1.&nbsp;The following provision shall be added to the end of Section&nbsp;2 of the Agreement:



<P align="left" style="margin-left:4%; font-size: 10pt">&#147;Notwithstanding the foregoing, either the Executive or the Company shall have the right at any time to give
the other written notice, in accordance with Section 9(a) and at least sixty (60)&nbsp;days prior to the effective
date of termination, to terminate the Term and this Agreement (&#147;Early Termination&#148;), the effective date of
such termination being the Early Termination Date.&#148;


<P align="left" style="font-size: 10pt">2.&nbsp;The Agreement is supplemented to provide as follows:



<P align="left" style="margin-left:4%; font-size: 10pt">&#147;Upon Early Termination, Executive shall be entitled to receive the following: (i)&nbsp;salary and the cash value
of any accrued Paid Time Off (consistent with the Company&#146;s Paid Time Off policies then in effect) through
the Early Termination Date plus continued salary for a period of twelve (12)&nbsp;months following the Early
Termination Date, payable in accordance with the Company&#146;s regular payroll schedule as in effect from time to
time, (ii)&nbsp;all outstanding stock options and other equity arrangements subject to vesting and all such
options and other exercisable rights held by Executive shall remain exercisable through their original
expiration date, provided that for purposes of the Company&#146;s equity incentive plans, Executive&#146;s Termination
shall be treated as a retirement, (iii)&nbsp;continuation of health benefits for Executive, Executive&#146;s spouse and
any dependent children for a period of twelve (12)&nbsp;months after the Early Termination Date, (iv)&nbsp;the ability
to earn his bonus for the entire year of 2010 in accordance with the Company&#146;s bonus plan, provided, however,
that if the Early Termination Date is before December&nbsp;31, 2010, the amount of the bonus shall be prorated,
and (v)&nbsp;no other compensation, severance or other benefits, except only that this provision shall not limit
any benefits otherwise available under Section 6(c) in the case of a termination following a Change in
Control. In the event of an Early Termination, and for no additional consideration, Executive agrees to make
himself available to act in a consulting capacity, as requested, to the Company, for a period of twelve (12)
months following the Early Termination Date. Executive will be available, as requested, for up to ten (10)
hours per month. The Company shall reimburse Executive for all reasonable expenses associated with said
consultation&#148;

<P align="center" style="font-size: 10pt">1
<P align="center" style="font-size: 10pt">&nbsp;

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

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P align="left" style="font-size: 10pt">3.&nbsp;For the avoidance of doubt, the effect of the supplemental provision set forth in Paragraph&nbsp;2 above is that the
provisions of Section 6(b) of the Agreement will now apply only to a Constructive Termination and the provisions of
Section 6(e) will now apply only to an involuntary termination for Business Reasons.


<P align="left" style="font-size: 10pt">4.&nbsp;The Company will pay directly the reasonable fees and expenses of counsel retained by Executive in connection with
the preparation, negotiation and execution of this Amendment.


<P align="left" style="font-size: 10pt">5.&nbsp;Capitalized terms not otherwise defined in this Addendum shall have the meanings given them by the Agreement.


<P align="left" style="font-size: 10pt">6.&nbsp;In all other respects, the Agreement shall remain in full force and effect.


<P align="left" style="font-size: 10pt; text-indent: 4%">IN WITNESS WHEREOF, each of the parties has executed this Amendment, in the case of the Company by its duly
authorized officer, as of the day and year first above written.



<P align="left" style="margin-left:45%; font-size: 10pt"><FONT style="font-variant: SMALL-CAPS"><B>Ultralife Corporation</B>
</FONT>


<P align="left" style="margin-left:45%; font-size: 10pt">By:<U> /s/ Bradford T. Whitmore</U><BR>
Bradford T. Whitmore<BR>
Chair of the Board of Directors


<P align="left" style="margin-left:45%; font-size: 10pt"><FONT style="font-variant: SMALL-CAPS"><B>Executive</B></FONT><BR>



<P align="left" style="margin-left:45%; font-size: 10pt"><U>/s/ John D. Kavazanjian</U><BR>
 John D. Kavazanjian

<P align="center" style="font-size: 10pt">2

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

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




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