<SEC-DOCUMENT>0001144204-16-092527.txt : 20160404
<SEC-HEADER>0001144204-16-092527.hdr.sgml : 20160404
<ACCEPTANCE-DATETIME>20160404152144
ACCESSION NUMBER:		0001144204-16-092527
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160107
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160404
DATE AS OF CHANGE:		20160404

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIONEER POWER SOLUTIONS, INC.
		CENTRAL INDEX KEY:			0001449792
		STANDARD INDUSTRIAL CLASSIFICATION:	POWER, DISTRIBUTION & SPECIALTY TRANSFORMERS [3612]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35212
		FILM NUMBER:		161550339

	BUSINESS ADDRESS:	
		STREET 1:		400 KELBY STREET, 9TH FLOOR
		STREET 2:		ONE PARKER PLAZA
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024
		BUSINESS PHONE:		212-867-0700

	MAIL ADDRESS:	
		STREET 1:		400 KELBY STREET, 9TH FLOOR
		STREET 2:		ONE PARKER PLAZA
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SIERRA CONCEPTS, INC.
		DATE OF NAME CHANGE:	20081112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SIERRA CONCEPTS
		DATE OF NAME CHANGE:	20081112
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>v436143_8-ka.htm
<DESCRIPTION>FORM 8-K/A
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 20%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 40%">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No. 1)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
January 7, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 20%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 40%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PIONEER POWER SOLUTIONS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 40%">&nbsp;</TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 49%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 49%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>27-1347616</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(State of incorporation)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>400 Kelby Street, 12th Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fort Lee, New Jersey 07024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(212) 867-0700</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)&nbsp;</P>

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<TR STYLE="vertical-align: top">
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    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.75in">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-indent: -13.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4
(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-indent: -13.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Explanatory Note</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Amendment No. 1 to the Registrant&rsquo;s
Current Report on Form 8-K filed with the Securities and Exchange Commission on January 11, 2016 (the &ldquo;Original Report&rdquo;)
is being filed to disclose certain information in connection with the appointment of Thomas Klink as chief financial officer, which
information was inadvertently omitted from the Original Report. Accordingly, this Amendment No. 1 amends and restates the Original
Report, and except as set forth herein, no other changes are made by this Amendment No. 1 to the Original Report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in"><B>Item 5.02</B></TD>
    <TD><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On January 7, 2016, Andrew Minkow resigned
as a director and as chief financial officer of Pioneer Power Solutions, Inc. (the &ldquo;Company&rdquo;), effective immediately.
In connection with his resignation, Mr. Minkow entered into a General Release and Severance Agreement (the &ldquo;Severance Agreement&rdquo;)
with the Company, pursuant to which, among other things, (i) that certain employment agreement between Mr. Minkow and the Company,
dated March 30, 2012 (as amended, the &ldquo;Employment Agreement&rdquo;), was terminated, except with respect to the provisions
of the Employment Agreement relating to confidentiality and restrictive covenants that remain in effect, (ii) Mr. Minkow resigned
from all of his positions with the Company, (iii) the Company retained Mr. Minkow as a consultant for a period of three months
(the &ldquo;Consultancy Period&rdquo;) to perform such services as may be reasonably requested by the Company for $25,000 monthly
retainer payments, in exchange for Mr. Minkow making himself available for up to 40 hours per week, (iv) Mr. Minkow provided a
release of claims against the Company, and (v) the Company will provide Mr. Minkow with the following: (a) severance payments,
in an amount equal to his base salary for a period of three months after the 60<SUP>th</SUP> day following the expiration of the
Consultancy Period (with the initial payment including any amounts that would have been payable to Mr. Minkow during such 60 day
period, subject to Mr. Minkow&rsquo;s compliance with the Severance Agreement); and (b) a lump-sum equivalent to the Company&rsquo;s
portion of Mr. Minkow&rsquo;s premiums under the Consolidated Omnibus Budget Reconciliation Act of 1985 for 12 months on the first
payroll date after the 60<SUP>th</SUP> day following the date of the Severance Agreement. Any grants of equity-based incentive
compensation granted to Mr. Minkow will remain subject to the terms of the Pioneer Power Solutions, Inc. 2011 Long-Term Incentive
Plan and as set forth in the applicable grant documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, in exchange for Mr. Minkow&rsquo;s
execution of a supplemental release agreement following the Consultancy Period, and Mr. Minkow&rsquo;s compliance with the terms
thereunder and the Severance Agreement, the Company agreed to pay Mr. Minkow an amount equal to his base salary for 6 months, payable
in accordance with the Company&rsquo;s standard payroll practices, following cessation of the above described severance payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing summary of the Severance Agreement
is not complete, and is qualified in its entirety by reference to the full text of the Severance Agreement that is attached as
Exhibit 10.1 of this Current Report on Form 8-K. Readers should review the Severance Agreement for a more complete understanding
of its terms and conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, on January 7, 2016, Thomas
Klink was appointed as chief financial officer, secretary and treasurer of the Company, effective upon the resignation of Andrew
Minkow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Klink, age 53, has served as a director
of the Company since April 30, 2010 and is president of Jefferson Electric, Inc., a subsidiary of the Company. Since 1996, he has
served in various positions at Jefferson Electric, Inc., including as its chief executive officer, chief financial officer, vice
president, treasurer, secretary and chairman of the board of directors. Previously, from 1994 to 1996, Mr. Klink served as a division
controller at MagneTek, Inc., a company listed on NASDAQ, reporting to the corporate controller. Mr. Klink also previously served
as a controller for U.S. Music Corporation, a manufacturer of musical instruments from 1990 through 1994. Mr. Klink received his
BBA in Accounting from the University of Wisconsin &ndash; Milwaukee in 1984.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1px"></TD>
    <TD STYLE="width: 1in"><B>Item 8.01</B></TD>
    <TD><B>Other Events.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On January 11, 2016, the Company issued
a press release announcing the appointment of Mr. Klink as chief financial officer. A copy of the press release is attached as
Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1px"></TD>
    <TD STYLE="width: 1in"><B>Item 9.01</B></TD>
    <TD STYLE="text-align: justify"><B>Financial Statements and Exhibits.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0%"></TD>
    <TD STYLE="width: 0.5in">(d)</TD>
    <TD STYLE="text-align: justify">Exhibits</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 84%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Exhibit Number</B></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">10.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">General Release and Severance Agreement, dated January 7, 2016, by and between Pioneer Power Solutions, Inc. and Andrew Minkow (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission on January 11, 2016).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">99.1*</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Press Release dated January 11, 2016. </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;* Filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>PIONEER POWER SOLUTIONS, inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 44%; padding-right: 5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; text-align: justify">Date: April 4, 2016</TD>
    <TD STYLE="padding-right: 5.75pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.75pt; text-align: justify">/s/ Nathan Mazurek</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">Name:</TD>
    <TD STYLE="padding-right: 5.75pt; text-align: justify">Nathan Mazurek</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">Title:</TD>
    <TD STYLE="padding-right: 5.75pt; text-align: justify">Chief Executive Officer</TD></TR>
</TABLE>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v436143_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;<IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="margin: 0"></P>

<P STYLE="color: #0070C0; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="color: rgb(0,112,192); font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pioneer Power
Solutions Promotes Thomas Klink to CFO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="color: rgb(0,112,192); font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Seasoned Financial
Executive, Previously Served as President of Jefferson Electric</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FORT LEE, N.J., Jan. 11, 2016 /PRNewswire/ &ndash;</B> Pioneer
Power Solutions, Inc. (Nasdaq: PPSI) (&quot;Pioneer&quot; or the &quot;Company&quot;), a company engaged in the manufacture, sale
and service of electrical transmission, distribution and on-site power generation equipment, today announced that Thomas Klink,
President of Pioneer's Jefferson Electric Segment and an experienced financial executive, has been promoted to Chief Financial
Officer of Pioneer Power Solutions, Inc., effective January 7, 2016. He succeeds Andrew Minkow, who has resigned from Pioneer,
as both an officer and a director, to pursue other professional opportunities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Most recently, Mr. Klink was President of Jefferson Electric,
rising to that position after serving in several positions of increasing responsibility, including chief executive officer, chief
financial officer, vice president, treasurer, secretary and chairman of the board of directors. Previously, from 1994 to 1996,
Mr. Klink served as a division controller at MagneTek, Inc., a company traded on the NASDAQ, reporting to the corporate controller.
His responsibilities with MagneTek included monthly financial reporting, cash flow forecasting, divisional profit and loss forecasts,
quarterly financial closing and annual audit activities. In addition to these duties, during his career, he has been responsible
for negotiating bank agreements with various lenders, conducting annual audits, overseeing insurance and benefits purchasing, and
negotiating material contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nathan Mazurek, Pioneer's Chairman and Chief Executive Officer,
said, &quot;Tom has been a valuable part of the leadership at our Jefferson Electric unit for many years, and his experience and
familiarity with our business makes him the ideal person to lead our finance function going forward. I wish to thank Andrew Minkow
for his years of dedicated service to Pioneer, and on behalf of the Board of Directors, I wish him the best of luck in his future
endeavors.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr. Klink added, &quot;Recent organizational changes have positioned
Pioneer Power Solutions to deliver profitable growth in 2016 and beyond, making this an exciting time to move into the CFO role.
I plan to focus on our bank relationships, stringent financial controls throughout our organization and facilitating profitable
growth by maintaining tight expense management processes already in place.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr. Minkow has agreed to serve as a consultant to Pioneer for
at least 90 days, ensuring a smooth transition. In addition, the Company has retained Chord Advisors, LLC, a highly respected financial
consulting firm, to provide additional financial reporting and compliance assistance during the transition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Pioneer Power Solutions, Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pioneer Power Solutions, Inc. manufactures, sells and services
a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the
utility, industrial, commercial and backup power markets. The Company's principal products and services include custom-engineered
electrical transformers, low and medium voltage switchgear and engine-generator sets and controls, complemented by a national field-service
organization to maintain and repair power generation assets. Pioneer is headquartered in Fort Lee, New Jersey and operates from
14 additional locations in the U.S., Canada and Mexico for manufacturing, centralized distribution, engineering, sales, service
and administration. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Safe Harbor Statement: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This press release contains &quot;forward-looking statements&quot;
within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the
words &quot;intends,&quot; &quot;may,&quot; &quot;will,&quot; &quot;plans,&quot; &quot;expects,&quot; &quot;anticipates,&quot;
&quot;projects,&quot; &quot;predicts,&quot; &quot;estimates,&quot; &quot;aims,&quot; &quot;believes,&quot; &quot;hopes,&quot; &quot;potential&quot;
or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are
subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted
or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the fact that the Company
has secured a waiver of defaults under its credit facilities and may not be able to maintain such waiver in effect or otherwise
achieve compliance with the terms of its credit facilities, (ii) the fact that the Company has been delinquent in payment of its
federal payroll tax obligations and may not be successful in its requests for the abatement of penalties and payment of past due
amounts over an extended period, (iii) the Company's ability to expand its business through strategic acquisitions, (iv) the Company's
ability to integrate acquisitions and related businesses, (v) the fact that many of the Company's competitors are better established
and have significantly greater resources, and may subsidize their competitive offerings with other products and services, which
may make it difficult for the Company to attract and retain customers, (vi) the Company's dependence on Hydro-Quebec Utility Company
and Siemens Industry, Inc. for a large portion of its business, and the fact that any change in the level of orders from Hydro-Quebec
Utility Company or Siemens Industry, Inc. could have a significant impact on the Company's results of operations, (vii) the potential
loss or departure of key personnel, including Nathan J. Mazurek, the Company's Chairman, President and Chief Executive Officer,
(viii) the fact that fluctuations between the U.S. dollar and the Canadian dollar will impact the Company's revenues, (ix) the
Company's ability to generate internal growth, (x) market acceptance of existing and new products, (xi) the Company's dependence
on a distributor agreement with Generac Power Systems through which it derives a significant portion of its revenues, (xii) operating
margin risk due to competitive pricing and operating efficiencies, supply chain risk, material, labor or overhead cost increases,
interest rate risk and commodity risk, (xiii) restrictive loan covenants or the Company's ability to repay or refinance debt under
its credit facilities that could limit the Company's future financing options and liquidity position and may limit the Company's
ability to grow its business, (xiv) general economic and market conditions in the electrical equipment, power generation, commercial
construction, industrial production, oil and gas, marine and infrastructure industries, (xv) the impact of geopolitical activity
on the economy, changes in government regulations such as income taxes, climate control initiatives, the timing or strength of
an economic recovery in the Company's markets and the Company's ability to access capital markets, (xvi) the fact that unanticipated
increases in raw material prices or disruptions in supply could increase production costs and adversely affect the Company's profitability,
(xvii) the fact that the Company's Chairman controls a majority of the Company's combined voting power, and may have, or may develop
in the future, interests that may diverge from yours, (xviii) material weaknesses in the Company's internal control over financial
reporting that could have an adverse effect on the Company's business and common stock price, and (xix) the fact that future sales
of large blocks of the Company's common stock may adversely impact the Company's stock price. More detailed information about the
Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings
with the Securities and Exchange Commission, including the Company's Annual and Quarterly Reports on Form 10-K and Form 10-Q. Investors
and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. The Company assumes
no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Brett Maas, Managing Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Hayden IR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(646) 536-7331</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">brett@haydenir.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
