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<P STYLE="margin: 0">&nbsp;</P>

<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"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The 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"><B>September 26, 2012</B></P>

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

<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>FORTRESS INTERNATIONAL GROUP, 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>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 36%; vertical-align: bottom; font-size: 10pt; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 28%; vertical-align: top; font-size: 10pt; font-weight: bold; text-align: center">000-51426</TD>
    <TD STYLE="width: 36%; vertical-align: bottom; font-size: 10pt; font-weight: bold; text-align: center">20-2027651</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">incorporation)</P></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 47%; vertical-align: bottom; font-weight: bold; text-decoration: none; text-align: center">7226 Lee DeForest Drive, Suite 104</TD>
    <TD STYLE="width: 6%; vertical-align: top; font-weight: bold; text-decoration: none; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 47%; vertical-align: bottom; font-weight: bold; text-decoration: none; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; font-weight: bold; text-align: center">Columbia, Maryland</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; font-weight: bold; text-align: center">21046</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font-size: 10pt; font-weight: bold; text-align: center">(410) 423-7438</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Registrant&rsquo;s telephone number, including area code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Not Applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name, former address, and former
fiscal year, if changed since last report.)</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: justify">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; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Wingdings">&uml;</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>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Wingdings">&uml;</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>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Wingdings">&uml;</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-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; font-size: 10pt; font-weight: bold">Item 5.02.</TD>
    <TD STYLE="width: 85%; font-size: 10pt; font-weight: bold">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</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"><FONT STYLE="color: black">On September 26, 2012, Fortress International
Group, Inc. (the &ldquo;Corporation&rdquo;) announced that its board of directors has appointed Kenneth D. Schwarz as Chief Financial
Officer of the Corporation effective September 27, 2012. Mr. Schwarz, age 59, replaces Timothy C. Dec, who has agreed to assist
Mr. Schwarz to ensure an orderly transition as needed through the balance of the year. </FONT>A copy of the press release is being
furnished with this Form 8-K as Exhibit 99.1.</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">From July 2011 through July 2012, Mr. Schwarz was the Chief
Financial Officer and Senior Vice President of Information Systems at Primus Telecommunications Group, a publicly held provider
of advance communication services to residential business and carrier customers. From August 2007 through July 2011, he was President
and Chief Financial Officer of Simplexity, LLC, a privately owned online seller of wireless communications services.</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">In connection with his appointment as the Corporation&rsquo;s
Chief Financial Officer, the Corporation entered into an employment agreement with Mr. Schwarz. Under that employment agreement,
Mr. Schwarz&rsquo;s annual base salary is $275,000, and he is eligible to receive a bonus in an amount and on terms established
by the Corporation&rsquo;s board of directors. Mr. Schwarz is entitled to receive vacation, health insurance, and other benefits
generally made available to the Corporation&rsquo;s other executives. If the Corporation terminates Mr. Schwarz&rsquo;s employment
other than for &ldquo;Cause&rdquo; (as defined in the employment agreement) or Mr. Schwarz terminates his employment for a &ldquo;Good
Reason&rdquo; (as defined in the employment agreement), the Corporation will continue paying Mr. Schwarz his base salary commencing
on the date of termination and ending (a) six (6) months from the date of termination if the termination of employment occurs prior
to January 1, 2015, (b) twelve (12) months from the date of termination if the termination of employment occurs on or after January
1, 2015, or (c) twelve (12) months from the date of termination if the termination of employment is terminated pursuant to a Change
in Control of the Company (as defined in the employment agreement) that occurs on or after January 1, 2014. A copy of Mr. Schwarz&rsquo;s
employment agreement is filed as Exhibit 99.2 to this Form 8-K and incorporated by reference into this description.</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. Schwarz also received a stock option to purchase 350,000
shares of the Corporation&rsquo;s common stock. All of the Corporation&rsquo;s independent directors approved this grant, which
was not made under any compensation plan approved by the Corporation&rsquo;s stockholders. The exercise price per share for these
stock options is equal to the average of the high and low bid prices for the Corporation&rsquo;s common stock reported daily on
the OTCQB marketplace during the 20 trading days following the grant date. These stock options become exercisable in installments
as follows: (1) 100,000 shares become exercisable in three equal annual installments on the first, second, and third anniversaries
of the grant date, (2) 100,000 shares become exercisable when the fair market value of the Corporation&rsquo;s common stock is
at least $1.00 for 20 consecutive business days, (3) 100,000 shares become exercisable when the fair market value of the Corporation&rsquo;s
common stock is at least $1.50 for 20 consecutive business days, and (4) 50,000 shares become exercisable when the fair market
value of the Corporation&rsquo;s common stock is at least $2.00 for 20 consecutive business days. A copy of the stock option agreement
containing the terms of this stock option is filed as Exhibit 99.3 to this Form 8-K and incorporated by reference into this description.</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with his resignation, Mr. Dec and the Corporation
entered into a separation from employment agreement and release (&ldquo;separation agreement&rdquo;). Under that separation agreement,
Mr. Dec is entitled to severance payments in the aggregate amount of $235,000 payable during the twelve (12) months following his
resignation. Under the separation agreement, the 150,000 shares of restricted stock held by Mr. Dec immediately vested and were
no longer subject to forfeiture. As indicated above, Mr. Dec will provide transitional support to enable the orderly transfer of
pending work to other executives of the Corporation. Further, Mr. Dec will make himself reasonably available to the Company until
December 31, 2012. Mr. Dec will not receive any compensation for these services. A copy of Mr. Dec&rsquo;s separation agreement
is filed as Exhibit 99.4 to this Form 8-K and incorporated by reference into this description.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; font-size: 10pt; font-weight: bold">Item 9.01.</TD>
    <TD STYLE="width: 85%; font-size: 10pt; font-weight: bold">Financial Statements and Exhibits.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; text-align: right">99.1</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 87%">Press Release, dated September 26, 2012.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">99.2</TD>
    <TD>&nbsp;</TD>
    <TD>Employment Agreement, <FONT STYLE="color: black">dated September 27, 2012,</FONT> between <FONT STYLE="color: black">Fortress International Group, Inc. and Kenneth D. Schwarz.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">99.3</TD>
    <TD>&nbsp;</TD>
    <TD>Stock Option Agreement, <FONT STYLE="color: black">dated September 27, 2012,</FONT> between <FONT STYLE="color: black">Fortress International Group, Inc. and Kenneth D. Schwarz.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">99.4</TD>
    <TD>&nbsp;</TD>
    <TD>Separation from Employment Agreement and Release, dated September 26, 2012, between Fortress International Group, Inc. and Timothy C. Dec.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 66pt; text-indent: -30pt">&nbsp;</P>

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

<P STYLE="font: bold 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: justify; text-indent: -0.2pt">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 STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.2pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">FORTRESS INTERNATIONAL GROUP, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">By:&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; font-style: italic; text-align: justify">/s/ Anthony Angelini</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Anthony Angelini</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Executive Officer</TD></TR>
</TABLE>
<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">Date: September 27, 2012</P>



<P STYLE="margin: 0">&nbsp;</P>

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[{"type": "8-K", "sequence": "1", "filename": "v324639_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 19346}]
{"company-data": {"conformed-name": "Fortress International Group, Inc.", "cik": "0001320760", "assigned-sic": "8742", "irs-number": "202027651", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33627", "film-number": "121116071"}, "business-address": {"street1": "7226 LEE DEFOREST DRIVE,", "street2": "SUITE 203", "city": "COLUMBIA", "state": "MD", "zip": "21046", "phone": "(410) 312-9988"}, "mail-address": {"street1": "7226 LEE DEFOREST DRIVE,", "street2": "SUITE 203", "city": "COLUMBIA", "state": "MD", "zip": "21046"}, "former-company": {"former-conformed-name": "Fortress America Acquisition CORP", "date-changed": "20050315"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
September 26, 2012
Date of Report (Date of earliest event reported)
FORTRESS INTERNATIONAL GROUP, INC.
(Exact name of registrant as specified in
its charter)
Delaware
000-51426
20-2027651
(State or other jurisdiction of
incorporation)
(Commission File Number)
(I.R.S. Employer
Identification No.)
7226 Lee DeForest Drive, Suite 104
Columbia, Maryland
21046
(Address of principal executive offices)
(Zip Code)
(410) 423-7438
(Registrant's telephone number, including area code)
Not Applicable
(Former name, former address, and former
fiscal year, 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:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 26, 2012, Fortress International
Group, Inc. (the "Corporation") announced that its board of directors has appointed Kenneth D. Schwarz as Chief Financial
Officer of the Corporation effective September 27, 2012. Mr. Schwarz, age 59, replaces Timothy C. Dec, who has agreed to assist
Mr. Schwarz to ensure an orderly transition as needed through the balance of the year.
A copy of the press release is being
furnished with this Form 8-K as Exhibit 99.1.
From July 2011 through July 2012, Mr. Schwarz was the Chief
Financial Officer and Senior Vice President of Information Systems at Primus Telecommunications Group, a publicly held provider
of advance communication services to residential business and carrier customers. From August 2007 through July 2011, he was President
and Chief Financial Officer of Simplexity, LLC, a privately owned online seller of wireless communications services.
In connection with his appointment as the Corporation's
Chief Financial Officer, the Corporation entered into an employment agreement with Mr. Schwarz. Under that employment agreement,
Mr. Schwarz's annual base salary is $275,000, and he is eligible to receive a bonus in an amount and on terms established
by the Corporation's board of directors. Mr. Schwarz is entitled to receive vacation, health insurance, and other benefits
generally made available to the Corporation's other executives. If the Corporation terminates Mr. Schwarz's employment
other than for "Cause" (as defined in the employment agreement) or Mr. Schwarz terminates his employment for a "Good
Reason" (as defined in the employment agreement), the Corporation will continue paying Mr. Schwarz his base salary commencing
on the date of termination and ending (a) six (6) months from the date of termination if the termination of employment occurs prior
to January 1, 2015, (b) twelve (12) months from the date of termination if the termination of employment occurs on or after January
1, 2015, or (c) twelve (12) months from the date of termination if the termination of employment is terminated pursuant to a Change
in Control of the Company (as defined in the employment agreement) that occurs on or after January 1, 2014. A copy of Mr. Schwarz's
employment agreement is filed as Exhibit 99.2 to this Form 8-K and incorporated by reference into this description.
Mr. Schwarz also received a stock option to purchase 350,000
shares of the Corporation's common stock. All of the Corporation's independent directors approved this grant, which
was not made under any compensation plan approved by the Corporation's stockholders. The exercise price per share for these
stock options is equal to the average of the high and low bid prices for the Corporation's common stock reported daily on
the OTCQB marketplace during the 20 trading days following the grant date. These stock options become exercisable in installments
as follows: (1) 100,000 shares become exercisable in three equal annual installments on the first, second, and third anniversaries
of the grant date, (2) 100,000 shares become exercisable when the fair market value of the Corporation's common stock is
at least $1.00 for 20 consecutive business days, (3) 100,000 shares become exercisable when the fair market value of the Corporation's
common stock is at least $1.50 for 20 consecutive business days, and (4) 50,000 shares become exercisable when the fair market
value of the Corporation's common stock is at least $2.00 for 20 consecutive business days. A copy of the stock option agreement
containing the terms of this stock option is filed as Exhibit 99.3 to this Form 8-K and incorporated by reference into this description.
In connection with his resignation, Mr. Dec and the Corporation
entered into a separation from employment agreement and release ("separation agreement"). Under that separation agreement,
Mr. Dec is entitled to severance payments in the aggregate amount of $235,000 payable during the twelve (12) months following his
resignation. Under the separation agreement, the 150,000 shares of restricted stock held by Mr. Dec immediately vested and were
no longer subject to forfeiture. As indicated above, Mr. Dec will provide transitional support to enable the orderly transfer of
pending work to other executives of the Corporation. Further, Mr. Dec will make himself reasonably available to the Company until
December 31, 2012. Mr. Dec will not receive any compensation for these services. A copy of Mr. Dec's separation agreement
is filed as Exhibit 99.4 to this Form 8-K and incorporated by reference into this description.
Item 9.01.
Financial Statements and Exhibits.
99.1
Press Release, dated September 26, 2012.
99.2
Employment Agreement,
dated September 27, 2012,
between
Fortress International Group, Inc. and Kenneth D. Schwarz.
99.3
Stock Option Agreement,
dated September 27, 2012,
between
Fortress International Group, Inc. and Kenneth D. Schwarz.
99.4
Separation from Employment Agreement and Release, dated September 26, 2012, between Fortress International Group, Inc. and Timothy C. Dec.
SIGNATURES
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.
FORTRESS INTERNATIONAL GROUP, INC.
By:
/s/ Anthony Angelini
Anthony Angelini
Chief Executive Officer
Date: September 27, 2012