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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; 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">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Current Report Pursuant to Section&nbsp;13
or 15(d) of the Securities Exchange Act of 1934</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-align: center"><B>Date of Report (Date of earliest event
reported): June 19, 2012</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-align: center"><B>GENEREX BIOTECHNOLOGY CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></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%">
<TR>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center">000-29169</TD>
    <TD STYLE="width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 34%; vertical-align: bottom; font-weight: bold; text-align: center">98-0178636</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or other jurisdiction of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">(I.R.S Employer Identification No.)</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="width: 67%; vertical-align: top; font-weight: bold; text-align: center">33 Harbour Square, Suite 202, Toronto, Ontario Canada</TD>
    <TD STYLE="width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: bottom; font-weight: bold; text-align: center">M5J 2G2</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center">(Zip Code)</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>Registrant&rsquo;s telephone number,
including area code: (416) 364-2551</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-align: center"><B>N/A</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-family: Wingdings">o</TD>
    <TD STYLE="width: 97%">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">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-family: Wingdings">o</TD>
    <TD STYLE="width: 97%">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-family: Wingdings">o</TD>
    <TD STYLE="width: 97%">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">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-family: Wingdings">o</TD>
    <TD STYLE="width: 97%">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">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; font-weight: bold">Item 5.02</TD>
    <TD STYLE="width: 88%; font-weight: bold">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD><FONT STYLE="font-size: 10pt">On June 6, 2012, the Board of Directors approved the following stock option grants to
                                                                                                certain of Company&rsquo;s named executive officers and directors in full and final payment of the Company&rsquo;s
                                                                                                obligation                                                                                                 to pay such
                                                                                                individuals deferred salary or director fees as of May 31, 2012, which grants became effective upon each
                                                                                                optionee&rsquo;s                                                                                                 execution of
                                                                                                a settlement and release agreement on the dates set forth below:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 92%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 49%; font-weight: bold; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom; padding-left: 0">Named&nbsp;Executive</TD>
    <TD NOWRAP STYLE="width: 1%; padding-bottom: 1pt"></TD>
    <TD NOWRAP STYLE="width: 19%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Effective&nbsp;Date&nbsp;of<BR>
Grant</TD>
    <TD NOWRAP STYLE="width: 1%; padding-bottom: 1pt"></TD>
    <TD NOWRAP STYLE="width: 30%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Options&nbsp;to&nbsp;Purchase&nbsp;Shares&nbsp;of<BR>
Common&nbsp;Stock</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: transparent">
    <TD STYLE="padding-left: 0">Mark Fletcher</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 19, 2012</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1,457,195</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 0">President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: transparent">
    <TD STYLE="padding-left: 0">David Brusegard</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 20, 2012</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">546,448</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 0">Chief Operating Officer</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: transparent">
    <TD STYLE="padding-left: 0">Eric von Hofe, President of Antigen Express, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 19, 2012</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">626,292</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 0">Stephen Fellows</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 20, 2012</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">546,448</TD></TR>
<TR STYLE="vertical-align: top; background-color: transparent">
    <TD STYLE="padding-left: 0">Acting Chief Financing Officer</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 0">John Barratt, Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 19, 2012</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">918,033</TD></TR>
<TR STYLE="vertical-align: top; background-color: transparent">
    <TD STYLE="padding-left: 0">Brian McGee, Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 19, 2012</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">508,197</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 0">Nola Masterson, Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 19, 2012</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">508,197</TD></TR>
<TR STYLE="vertical-align: top; background-color: transparent">
    <TD STYLE="padding-left: 0">James Anderson, Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 19, 2012</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">409,836</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The options are being issued in lieu of cash payment of deferred
compensation amounts due to such individuals. Since October of 2011, the executives and directors listed above, as well as certain other key
employees, have agreed to defer a portion (or all in the case of the directors) of their salary or fees in an effort to assist the Company with
its cash flow requirements. The number of options being granted to each individual is equal to the dollar amount of deferred salary or fees due to
such individual divided by the closing price of the Company's common stock on the OTC Bulletin Board on June 6, 2012 ($0.0925). The stock options
have an exercise price equal to $0.001 per share. The grants were made pursuant to the terms of the Company's 2006 Stock Plan and will be memorialized
in an option agreement, the form of which has been used in the past by the Company and previously filed as an exhibit to past periodic filings.
The options awarded are all fully vested and shall expire on the fifth anniversary of the date of grant, subject to earlier termination under the
terms set forth in the 2006 Stock Plan.</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 0pt 0.5in">The foregoing is only a summary of the settlement
and release agreement and the option agreements and does not purport to be a complete description of the rights and obligations
of the parties thereunder. The foregoing description of the settlement and release agreement is qualified in its entirety by reference
to the settlement and release agreement, which is attached as Exhibit 10.1 to this report and incorporated herein by reference.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><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 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The following is a complete list of Exhibits filed
as part of this Current Report on Form 8-K. Exhibit numbers correspond to the numbers in the exhibit table of Item 601 of Regulation
S-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Exhibit No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Description</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form of Settlement
and Release Agreement between Generex Biotechnology Corporation and each optionee.</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; text-align: center"><B>SIGNATURES</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: 27pt">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-indent: 27pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">GENEREX BIOTECHNOLOGY CORPORATION.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt">Date: June 21, 2012</TD>
    <TD STYLE="padding-bottom: 1.5pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Mark A. Fletcher&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Mark A. Fletcher&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ John P. Barratt</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">John P. Barratt&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Chairman&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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{"company-data": {"conformed-name": "GENEREX BIOTECHNOLOGY CORP", "cik": "0001059784", "assigned-sic": "2834", "irs-number": "820490211", "state-of-incorporation": "DE", "fiscal-year-end": "0731"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-25169", "film-number": "12920873"}, "business-address": {"street1": "33 HARBOUR SQ", "street2": "STE 202", "city": "TORONTO ONTARIO CANADA", "state": "A1", "zip": "M5J 2G2", "phone": "4163642551"}, "mail-address": {"street1": "33 HARBOUR SQ", "street2": "STE 202", "city": "TORONTO ONTARIO CA", "state": "A1", "zip": "M5J 2G2"}}
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
Date of Report (Date of earliest event
reported): June 19, 2012
GENEREX BIOTECHNOLOGY CORPORATION
(Exact name of registrant as specified
in its charter)
Delaware
000-29169
98-0178636
(State or other jurisdiction of
incorporation)
(Commission File Number)
(I.R.S Employer Identification No.)
33 Harbour Square, Suite 202, Toronto, Ontario Canada
M5J 2G2
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number,
including area code: (416) 364-2551
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:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
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 Arrangement of Certain Officers.
(e)
On June 6, 2012, the Board of Directors approved the following stock option grants to
                                                                                                certain of Company's named executive officers and directors in full and final payment of the Company's
                                                                                                obligation                                                                                                 to pay such
                                                                                                individuals deferred salary or director fees as of May 31, 2012, which grants became effective upon each
                                                                                                optionee's                                                                                                 execution of
                                                                                                a settlement and release agreement on the dates set forth below:
Named Executive
Effective Date of
Grant
Options to Purchase Shares of
Common Stock
Mark Fletcher
June 19, 2012
1,457,195
President and Chief Executive Officer
David Brusegard
June 20, 2012
546,448
Chief Operating Officer
Eric von Hofe, President of Antigen Express, Inc.
June 19, 2012
626,292
Stephen Fellows
June 20, 2012
546,448
Acting Chief Financing Officer
John Barratt, Director
June 19, 2012
918,033
Brian McGee, Director
June 19, 2012
508,197
Nola Masterson, Director
June 19, 2012
508,197
James Anderson, Director
June 19, 2012
409,836
The options are being issued in lieu of cash payment of deferred
compensation amounts due to such individuals. Since October of 2011, the executives and directors listed above, as well as certain other key
employees, have agreed to defer a portion (or all in the case of the directors) of their salary or fees in an effort to assist the Company with
its cash flow requirements. The number of options being granted to each individual is equal to the dollar amount of deferred salary or fees due to
such individual divided by the closing price of the Company's common stock on the OTC Bulletin Board on June 6, 2012 ($0.0925). The stock options
have an exercise price equal to $0.001 per share. The grants were made pursuant to the terms of the Company's 2006 Stock Plan and will be memorialized
in an option agreement, the form of which has been used in the past by the Company and previously filed as an exhibit to past periodic filings.
The options awarded are all fully vested and shall expire on the fifth anniversary of the date of grant, subject to earlier termination under the
terms set forth in the 2006 Stock Plan.
The foregoing is only a summary of the settlement
and release agreement and the option agreements and does not purport to be a complete description of the rights and obligations
of the parties thereunder. The foregoing description of the settlement and release agreement is qualified in its entirety by reference
to the settlement and release agreement, which is attached as Exhibit 10.1 to this report and incorporated herein by reference.
Item 9.01.
Financial Statements and Exhibits
The following is a complete list of Exhibits filed
as part of this Current Report on Form 8-K. Exhibit numbers correspond to the numbers in the exhibit table of Item 601 of Regulation
S-K.
Exhibit No.        Description
10.1     Form of Settlement
and Release Agreement between Generex Biotechnology Corporation and each optionee.
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.
GENEREX BIOTECHNOLOGY CORPORATION.
Date: June 21, 2012
By:
/s/ Mark A. Fletcher
Mark A. Fletcher
President and Chief Executive Officer
By:
/s/ John P. Barratt
John P. Barratt
Chairman