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     <!-- Filer's Name:    __________                                                            -->
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     <TITLE>Form 8K</TITLE>
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<TD><H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> UNITED
STATES <BR>SECURITIES AND EXCHANGE COMMISSION<BR>Washington, D.C. 20549 </FONT></H1></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>FORM 8-K</B></FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>CURRENT REPORT
<BR>Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934</B>  </FONT></TD></TR>
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     <TD WIDTH="45%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Date of Report (Date of earliest event reported):&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH="55%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>March 14, 2005</B><!-- DATE --> </FONT></TD>
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     <TD>&nbsp;</TD>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B> Cherokee International Corporation<!-- Name of Registrant --></B></FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><HR NOSHADE SIZE=1 WIDTH=100%></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Exact name of registrant as specified in its charter)</FONT></TD></TR>
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<TD WIDTH="33%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>Delaware<!-- State--></b></FONT></TD>
<TD WIDTH="34%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>000-50593<!-- File No.--></b></FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>95-4745032<!-- Irs No.--></b></FONT></TD>
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<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(State or other jurisdiction <BR>of incorporation)</font></td>
<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(Commission<BR>File Number) </FONT></TD>
<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(IRS Employer<BR> Identification No.) </FONT></TD>
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     <TD WIDTH="70%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;<b>2841 Dow Avenue, Tustin, California <!-- ADDRESS --></b></FONT></TD>
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"> &nbsp;&nbsp;<b>92780<!-- ZIP CODE --></b></FONT></TD></TR>
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     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Address of principal executive offices)</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Zip Code)</FONT></TD></TR>
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     <TD WIDTH="49%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Registrant's telephone number, including area code:</FONT></TD>
     <TD WIDTH="31%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;<B>(714) 544-6665</B><!-- TELEPHONE NO. --></FONT></TD>
     <TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
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     <TD>&nbsp;</TD>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><b>Not Applicable<!-- FORMER NAME OR ADDRESS --></b></FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Former name or former address, if changed since last report) </FONT></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>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: </FONT></TD></TR></TABLE><BR>

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 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD>
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 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD>
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 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act<BR> (17 CFR
240.14d-2(b)) </FONT></TD>
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 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act <BR>(17 CFR
240.13e-4(c)) </FONT></TD>
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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entry into a Material Definitive Agreement</FONT></H1></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On
March 14, 2005, the Compensation Committee of the Board of Directors of Cherokee
International Corporation (&#147;Cherokee&#148;) approved the 2005 cash incentive
compensation program for our executive officers and certain of our other employees. The
program ties bonus compensation payable for 2005 to the achievement of certain sales and
operating margin targets. Performance will be calculated at the end of our fiscal year
2005, and any bonus payments will be made early in 2006. </FONT></TD></TR></TABLE><BR>

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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Depending
upon the particular sales and operating margin targets that are achieved, Jeffrey M.
Frank, our President and Chief Executive Officer, may earn a bonus of up to 129.5% of his
base salary. Bud Patel, our Executive Vice President, Clark Hickock, our Executive Vice
President, Global Operations, and Van Holland, our Chief Financial Officer, may earn
bonuses of up to 111% of their base salaries. Alex Patel, our Vice President of
Engineering, and Dennis Pouliot, our Vice President, Global Accounts, may earn bonuses of
up to 60.5% and 53%, respectively, of their base salaries. Certain other managers and key
employees of Cherokee have been selected by our Compensation Committee to participate in
the incentive program. Such other employees may earn bonuses of up to between 23.5% and
60.5% of their base salaries. </FONT></TD></TR></TABLE><BR>

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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>Signatures </b></FONT></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.  </FONT></TD></TR>
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    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; <!-- TYPE "DATE:" HERE--> </FONT></TD>
    <TD WIDTH="44%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
<TD WIDTH="48%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">CHEROKEE INTERNATIONAL <BR>CORPORATION<!-- TYPE "COMPANY" HERE--> </FONT></TD>
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    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Dated: </FONT></TD>
    <TD WIDTH="39%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"> March 18, 2005<!-- DATE--> </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By: </FONT></TD>
    <TD WIDTH="43%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;/s/ Van Holland      <!-- NAME --> </FONT></TD>
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    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD>&nbsp; </TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD> <HR NOSHADE SIZE="1"> </TD>
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    <TD WIDTH="57%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:</FONT></TD>
    <TD WIDTH="35%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Van Holland   <!-- NAME --></FONT></TD>
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    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title: </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"> Chief Financial Officer<!-- TITLE --></FONT></TD></TR>
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Form 8K
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):
March 14, 2005
Cherokee International Corporation
(Exact name of registrant as specified in its charter)
Delaware
000-50593
95-4745032
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
2841 Dow Avenue, Tustin, California
92780
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(714) 544-6665
Not Applicable
(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:
¨
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 1.01      Entry into a Material Definitive Agreement
On
March 14, 2005, the Compensation Committee of the Board of Directors of Cherokee
International Corporation ("Cherokee") approved the 2005 cash incentive
compensation program for our executive officers and certain of our other employees. The
program ties bonus compensation payable for 2005 to the achievement of certain sales and
operating margin targets. Performance will be calculated at the end of our fiscal year
2005, and any bonus payments will be made early in 2006.
Depending
upon the particular sales and operating margin targets that are achieved, Jeffrey M.
Frank, our President and Chief Executive Officer, may earn a bonus of up to 129.5% of his
base salary. Bud Patel, our Executive Vice President, Clark Hickock, our Executive Vice
President, Global Operations, and Van Holland, our Chief Financial Officer, may earn
bonuses of up to 111% of their base salaries. Alex Patel, our Vice President of
Engineering, and Dennis Pouliot, our Vice President, Global Accounts, may earn bonuses of
up to 60.5% and 53%, respectively, of their base salaries. Certain other managers and key
employees of Cherokee have been selected by our Compensation Committee to participate in
the incentive program. Such other employees may earn bonuses of up to between 23.5% and
60.5% of their base salaries.
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.
CHEROKEE INTERNATIONAL
CORPORATION
Dated:
March 18, 2005
By:
/s/ Van Holland
Name:
Van Holland
Title:
Chief Financial Officer