-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CdpL2rMO6UB+kVQCeO9RirF6FEItp1KiUSp2h98zBb7VlwMopRhTrhthSl/prTHt
 0Pc0/qvXGUZpRMrz2FHEfA==

<SEC-DOCUMENT>0001003297-06-000402.txt : 20061024
<SEC-HEADER>0001003297-06-000402.hdr.sgml : 20061024
<ACCEPTANCE-DATETIME>20061024151626
ACCESSION NUMBER:		0001003297-06-000402
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20061018
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20061024
DATE AS OF CHANGE:		20061024

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRO DEX INC
		CENTRAL INDEX KEY:			0000788920
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				841261240
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14942
		FILM NUMBER:		061160064

	BUSINESS ADDRESS:	
		STREET 1:		MICRO MOTORS, INC.
		STREET 2:		151 EAST COLUMBINE
		CITY:			SANTA ANA
		STATE:			CA
		ZIP:			92707
		BUSINESS PHONE:		714-241-4411

	MAIL ADDRESS:	
		STREET 1:		MICRO MOTORS INC.
		STREET 2:		151 EAST COLUMBINE
		CITY:			SANTA ANA
		STATE:			CA
		ZIP:			92707
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>pdex8k1.htm
<TEXT>
<html>

<head>
<!-- Document Prepared With E-Services, LLC HTML Software-->
<!-- Copyright 2006 E-Services, LLC.-->
<!-- All rights reserved EDGAR2.com -->



<title>Pro-Dex, Inc. Form 8-K</title>


</head>

<body lang=EN-US link=blue vlink=purple>



<p><b>&nbsp;</b></p>

<p><b>&nbsp;</b></p>









<p align="center"><b>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C.&nbsp; 20549</b></p>





<p align=center style='text-align:center'><b>FORM 8-K</b></p>

<p align="center"><b>CURRENT REPORT<br>
Pursuant to Section 13 or 15(d) of the<br>
Securities Exchange Act of 1934</b></p>





<p align=center style='text-align:center'>Date of Report <br>
(Date of earliest event reported)<b> <br>
October 18, 2006</b></p>





<p align=center style='text-align:center'><b><font size="4">PRO-DEX, INC.<br>
</font></b><font size="2">(Exact name of registrant as specified in its charter)</font></p>
<div align="center">
	<table border="0" width="740" id="table1" cellspacing="0" cellpadding="0">
		<tr>
			<td align="center" nowrap width="213"><b>COLORADO</b></td>
			<td align="center" nowrap>





<p align=center style='text-align:center'><b>0-14942</b></p></td>
			<td align="center" nowrap><b>84-1261240</b></td>
		</tr>
		<tr>
			<td align="center" nowrap width="213">&nbsp;(State or other</td>
			<td align="center" nowrap>

<p align="center">(Commission File Number)</p></td>
			<td align="center" nowrap>(IRS
Employer </td>
		</tr>
		<tr>
			<td align="center" nowrap width="213">jurisdiction of</td>
			<td align="center" nowrap>&nbsp;</td>
			<td align="center" nowrap>Identification Number)</td>
		</tr>
		<tr>
			<td align="center" nowrap width="213">incorporation)</td>
			<td align="center" nowrap>

<p style='text-indent:36.0pt'>&nbsp;</p>

			</td>
			<td align="center" nowrap>&nbsp;</td>
		</tr>
	</table>
</div>

<p align=center style='text-align:center'><b>151 East Columbine Avenue<br>
Santa Ana, California </b><b>92707<br>
</b>(Address of Principal Executive Offices)</p>

<p align=center style='text-align:center'><b>(714) 241-4411<br>
</b>(Registrant's Telephone Number, Including Area Code)</p>





<p style='text-autospace:none'>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 ( <i>see </i>General
Instruction A.2. below): </p>



<p style='text-autospace:none; margin-top:0; margin-bottom:0.001pt'>[&nbsp;&nbsp; ] &nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </p>

<p style='text-autospace:none; margin-top:0; margin-bottom:0.001pt'>[&nbsp;&nbsp; ] &nbsp;Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </p>

<p style='margin-left:20.0pt;text-indent:-20.0pt;text-autospace:
none; margin-top:0; margin-bottom:0.001pt'>[&nbsp;&nbsp; ] &nbsp;Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b)) </p>

<p style='text-autospace:none; margin-top:0; margin-bottom:0.001pt'>[&nbsp;&nbsp; ] &nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) </p>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>





<b><u><br
clear=all style='page-break-before:always'>
</u></b>











<p><b>Item 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entry
into a Material Definitive Agreement</b></p>

<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
October 18, 2006, Pro-Dex, Inc. (the &quot;Company&quot;) entered into a letter agreement
(the &quot;Agreement&quot;) with Patrick Johnson, which clarifies the terms of Mr.
Johnson's employment as the Company's Executive Vice President Business
Development, to serve as Chief Business Development Officer.&nbsp; Mr. Johnson has
held the position of Executive Vice President Business Development since April
12, 2006.</p>



<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Under
the terms of the Agreement, Mr. Johnson is to receive an annual salary of
$180,000.&nbsp;&nbsp; Mr. Johnson's employment as Executive Vice President Business
Development is on an &quot;at will&quot; basis.&nbsp; However, if Mr. Johnson's employment is
terminated by the Company without &quot;cause&quot; as that term is defined in the
Agreement, the Company shall pay Mr. Johnson a severance payment equal to four
months of his annual salary.&nbsp; As additional consideration, the Agreement also
contains a mutual release by the Company and Mr. Johnson from any and all
claims up to October 18, 2006.</p>

<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Agreement is attached as Exhibit 10.1 to this Current Report on Form 8-K.&nbsp; The above descriptions are qualified by reference to the complete text of the Agreement.
</p>

<p style='text-align:justify'><b>Item
5.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal
Officers</b></p>

<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
October 18, 2006, Patrick Johnson, a Class II director, announced his
resignation from the Company's Board of Directors effective as of October 18,
2006 and the Board of Directors accepted Mr.&nbsp;Johnson's resignation as of
the that date.</p>



<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
October 18, 2006, after Mr. Johnson's resignation, the Board of Directors voted
to reduce the size of the Board from five to four. As a result, there are
currently no vacancies on the Board.</p>



<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mr.
Johnson continues to serve as the Company's Executive Vice President Business
Development&nbsp; as described in Item 1.01 above.</p>

<p
style='text-align:justify'><b>Item 9.01&nbsp; Financial Statements and Exhibits</b></p>
<p
style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; October 18, 2006 Letter Agreement regarding Employment between Pro-Dex, Inc. and Patrick Johnson</p>
<p
style='text-align:justify'>&nbsp;</p>
<p
style='text-align:justify'>&nbsp;</p>
<p
style='text-align:center'>-2-</p>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>



<br clear=all
style='page-break-before:always'>










<p align=center style='text-align:center'><b>SIGNATURES</b></p>





<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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.</p>





<p>Date: October 24, 2006&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>PRO-DEX, INC.</b></p>





<p style='margin-left:234.0pt'>By:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/&nbsp; Jeff Ritchey&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jeff Ritchey<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Financial Officer</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>



<br clear=all
style='page-break-before:always'>












</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<TEXT>
<html>

<head>
<title>Exhibit 10.1</title>
</head>

<body>

&nbsp;<p><b>Exhibit 10.1</b></p>

<p align=right style='margin-left:0pt;text-align:right'>[PRO-DEX, INC. LOGO]</p>





<p>October 18, 2006</p>



<p>Dear Patrick,</p>



<p style='text-align:justify'>This
will serve as a clarification of the resignation memo from you to the Company's
Board of Directors dated April 12, 2006.&nbsp; You will be employed in the position
of Executive Vice President Business Development, to serve as Chief Business
Development Officer with such other duties as may be assigned to you by the
Company's Chief Executive Officer.&nbsp; You will report directly to the Company's
Chief Executive Officer.&nbsp; This position will be based out of our Santa Ana,
California office.&nbsp; Your Indemnification Agreement and Directors &amp; Officers
Insurance with us will continue to be in effect.</p>



<p style='text-align:justify'>Your
official start date will be effective as of April 12, 2006.&nbsp; Your compensation
package will include a bi-weekly salary of $6,923.08 which equals $180,000 per
year.&nbsp; This is an Exempt position.&nbsp; You will retain your current PTO (paid time
off) accrual and continue to accrue PTO per the schedule in the employee
handbook.&nbsp; You will continue your eligibility to participate in benefits
including health, dental and life insurance and to participate in our optional
employee benefits.&nbsp; </p>



<p style='text-align:justify'>In
the event you are terminated involuntarily by the Company without &quot;cause&quot; as
defined below, the Company shall pay to you a severance payment equal four (4)
times your then current monthly base salary less applicable withholding as
required by law.&nbsp; Such payment shall be made in equal incremental payments,
consistent with the Company's usual payroll payment periods, over a period of
four (4) months immediately following your last day of employment with the Company.&nbsp;
As used herein, the term &quot;cause&quot; means (i) your willful breach or gross neglect
of the duties and obligations required of you either expressly or impliedly by
the terms of this letter agreement; or (ii) your commission of fraud,
embezzlement or misappropriation, involving the Company whether or not a
criminal or civil charge is filed in connection with such activity.</p>

<p style='text-align:justify'>By
accepting this offer, you again certify your understanding that your employment
will be on an at-will basis, and that neither you nor the Company has entered
into a contract regarding the terms or the duration of your employment.&nbsp; Please
sign and date both copies of this letter to indicate your acceptance of this
offer and retain one copy for your records and return the second copy to us.</p>
<p style='text-align:justify'>&nbsp;</p>
<p style='text-align:center'>-1-</p>







<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>



<br clear=all
style='page-break-before:always'>










<p align=right style='text-align:right;text-indent:0pt'>[PRO-DEX,
INC. LOGO]</p>

<p style='text-indent:0pt'>Patrick Johnson</p>

<p style='text-indent:0pt'>October 18, 2006</p>

<p style='text-indent:0pt'>Page two of two</p>



<p align="justify">In consideration of this letter agreement, you release and
forever discharge Pro-Dex, and each of its respective employees, shareholders,
officers, directors, agents, attorneys, or affiliated corporations or
organizations, and Pro-Dex releases and forever discharges you from any and all
claims, whether or not now known by you or by Pro-Dex, up to the date of this
letter.&nbsp; Claims released by you hereunder include, but are not limited to, any
claims relating to your compensation (including wage, salary, bonus,
commission, incentive, vacation, medical insurance benefits, or other
compensation); rights arising out of alleged violations of any contracts,
express or implied; any covenant of good faith and fair dealing, express or
implied; any tort; and, without limitation, any local, state, or federal
statute, rule, regulation, ordinance, law, or constitutional provision,
governing employment, employment termination, discrimination or harassment in
employment, or the payment of wages or benefits, but do not include wages or
benefits currently payable in the ordinary course of&nbsp; your employment as
provided herein.</p>

<p align="justify">You and Pro-Dex each understand and agree that you and it are
making a mutual general release of all claims, and that this release is
intended to encompass all known and unknown, foreseen and unforeseen claims
which you or any of your heirs, legal representatives, successors, or assigns
may have against Pro-Dex or any other related person or entity, and all known
and unknown, foreseen and unforeseen claims which Pro-Dex may have against
you.&nbsp; You and Pro-Dex each also expressly agree that you and it waive any
rights either of you may have under Section 1542 of the California Civil Code,
which reads:&nbsp; &quot;&sect; 1542.&nbsp; (General Release - Claims Extinguished.)&nbsp; A general
release does not extend to claims which the creditor does not know or suspect
to exist in his or her favor at the time of executing the release, which if
known by him or her must have materially affected his or her settlement with
the debtor.&quot;</p>

<p style='text-indent:0pt'>Signed the date first set forth above.</p>

<p style='text-align:justify'>Sincerely,</p>



<div align="left">
	<table border="0" width="740" id="table1">
		<tr>
			<td><u>&nbsp;&nbsp; /s/
Mark Murphy&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u>
			</td>
			<td width="349">



<p style='text-align:justify'><u>&nbsp;&nbsp; /s/ Patrick Johnson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

			</td>
		</tr>
		<tr>
			<td>Mark Murphy, Chief Executive Officer</td>
			<td width="349">

<p style='text-align:justify'>Patrick Johnson</p>

			</td>
		</tr>
		<tr>
			<td>Pro-Dex,
Inc.&nbsp;&nbsp; </td>
			<td width="349">

<p style='text-align:justify'>&nbsp;</p>







			</td>
		</tr>
	</table>
</div>



<div class=MsoNormal align=center style='text-align:center'>

<p style="text-align: justify">&nbsp;</p>
<p style="text-align: justify">&nbsp;</p>
<p>-2-</p>

<hr size=2 width="100%" noshade color=navy align=center>

</div>







</body>

</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
