SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
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FORM
8-K
Current
Report Pursuant to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
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Date
of
report (Date of earliest event reported): July 21, 2006
USA
TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
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Pennsylvania
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33-70992
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23-2679963
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(State
or other
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(Commission
File
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(I.R.S.
Employer
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jurisdiction
of
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Number)
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Identification
No.)
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incorporation
or
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organization)
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100
Deerfield Lane, Suite 140
Malvern,
Pennsylvania 19355
(Address
of principal executive offices and zip code)
Registrant’s
telephone number, including area code: 610-989-0340
n/a
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:
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q
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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q
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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q
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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q
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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ITEM
8.01 Other Events.
During
May 2006, Haven Brock Kolls, Jr., the Company’s Senior Vice President, Research
and Development, delivered a letter to the Company requesting that his
employment agreement not be automatically renewed through June 30, 2007, and
that the Company accept his resignation effective June 30, 2006. Because Mr.
Kolls did not provide the Company with at least sixty days prior written notice
of non-renewal, the Company informed Mr. Kolls that it would not accept his
resignation, and his employment agreement had automatically renewed for another
year, or until June 30, 2007. As of the date hereof, Mr. Kolls is not performing
any duties under his employment agreement, and the Company and Mr. Kolls have
been unable to resolve their differences.
SIGNATURES
Pursuant
to the Securities Exchange Act of 1934, the Company has duly caused this report
to be signed on its behalf by the undersigned hereunto duly
authorized.
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USA TECHNOLOGIES, INC.
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By:
/s/ George R. Jensen, Jr.
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George R. Jensen, Jr.
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Chief Executive Officer
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Dated:
July 26, 2006