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  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED
  STATES<br>
  SECURITIES AND EXCHANGE COMMISSION</font><br>
  WASHINGTON, D.C. 20549</b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>
  
  <div align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">
  
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b><font size="5"><br><br></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
  REPORT<br>
  </font></b><b><font size="3" style="font-size:12.0pt;font-weight:bold;">Pursuant
  to Section&nbsp;13 or 15(d)&nbsp;of the<br>
  Securities Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of earliest event
  reported):&#160; <b>May&nbsp;12,
  2008</b></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">GLOBALSTAR,
  INC.</font></b><br>
  (Exact name of registrant as specified in its charter)<br><br></p>
  
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   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">001-33117</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:-.15pt;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.15pt;">41-2116508</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or Other Jurisdiction </font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer</font></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of Incorporation)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">File Number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Identification No.)</font></p>
    </td>
   </tr>
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    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="66%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:66.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">461 South Milpitas Blvd. Milpitas,
    California</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">95035</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="66%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:66.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of Principal Executive Offices)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s telephone number, including area code:&#160; <b>(408) 933-4000</b></font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">N/A</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former Name or Former Address, if Changed
  Since Last Report)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form&nbsp;8-K filing is intended
  to simultaneously satisfy the filing obligation of the registrant under any of
  the following provisions:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160; Written communications pursuant to Rule&nbsp;425
  under the Securities Act (17 CFR 230.425)</p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160; Soliciting material pursuant to Rule&nbsp;14a-12
  under the Exchange Act (17 CFR 240.14a-12)</p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160; Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under
  the Exchange Act (17 CFR 240.14d-2(b))</p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160; Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under
  the Exchange Act (17 CFR 240.13e-4(c))</p>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p style="border:none;margin:0in 0in .0001pt;padding:0in;text-indent:.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>
  
  <div style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">
  
  <hr size="3" width="100%" noshade color="#010101" align="left">
  
  </font></b></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\xaugust\08-14420-1\task2940354\14420-1-ba.htm',USER='105277',CD='May 14 23:55 2008' -->
  
  
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  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
  5.02&#160; Departure of Directors or Principal
  Officers; Election of Directors; Appointment of Principal Officers.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(c)&nbsp;Appointment of Chief Operating Officer</font></i></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman">&nbsp;</font></i></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">The Board of Directors of Globalstar,&nbsp;Inc.
  (the &#147;Company&#148; or &#147;Globalstar&#148;) has appointed Thomas M. Colby as Chief
  Operating Officer of the Company effective May&nbsp;19, 2008. The principal
  terms of Mr.&nbsp;Colby&#146;s employment are provided below under subsection (e)(1)&nbsp;of
  this Item. The </font>Company&#146;s press release announcing the appointment
  is filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by
  reference.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Colby, age 47, has been Vice
  President and General Manager of Trimble Navigation Limited (NASDAQ: TRMB), a
  provider of advanced positioning solutions, since June&nbsp;2005.&#160; From June&nbsp;2004 to February&nbsp;2005, he
  was a consultant to SRI International, an independent, nonprofit research
  institute conducting client-sponsored research and development for government
  agencies, commercial businesses, foundations, and other organizations.&#160; From July&nbsp;2002 to April&nbsp;2004 he was
  Chief Executive Officer of Eyematic Interfaces Inc., a developer of consumer
  mobile applications and camera phone software which was sold in 2004.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Colby does not have any family
  relationship with any director or executive officer of Globalstar and has not
  been directly or indirectly involved in any transactions with the Company.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(e)(1)&nbsp; Agreement with Mr.&nbsp;Colby</font></i></p>
  
  <p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman">&nbsp;</font></i></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;1, 2008, the Company and Mr.&nbsp;Colby entered into an
  agreement effective as of May&nbsp;19, 2008.&#160;
  The principal terms of Mr.&nbsp;Colby&#146;s employment are as follows:</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.&nbsp;Colby
  will receive an annualized base salary of $300,000.</p>
  
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.&nbsp;Colby
  will be eligible to receive an annual bonus equal to 50% of his base salary
  upon the achievement of certain performance criteria approved by the Board or
  its Compensation Committee from time to time.</p>
  
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.&nbsp;Colby
  will be eligible to receive a $500,000 special bonus, payable at the option of
  the Company in cash or shares of Company common stock, after the Board
  determines that not less than 24 satellites of Globalstar&#146;s &#147;second-generation
  constellation&#148; have entered commercial service and are performing
  satisfactorily in carrying two-way voice and data, revenue capable, traffic.</p>
  
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><i><font size="2" face="Times New Roman">&nbsp;</font></i></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.&nbsp;Colby
  will receive the following equity awards within 90 days of May&nbsp;19, 2008:</p>
  
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><i><font size="2" face="Times New Roman">&nbsp;</font></i></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>A restricted
  stock award consisting of a number of shares of common stock equal to
  $1,600,000 that will vest on the anniversary of his employment in each of 2011,
  2012 and 2013, contingent, with respect to each installment, on his continuous
  employment with Globalstar through the date of vesting.</p>
  
  <p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Four
  nonqualified options to purchase an aggregate of 1,264,744 shares of Globalstar
  common stock that expire 10 years from the date of grant.&#160; The options will be exercisable when the
  closing price per share of Globalstar common stock reaches certain values,
  contingent, with respect to each installment, on his continuous </p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">
  
  <hr size="3" width="100%" noshade color="#010101" align="left">
  
  </font></b></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\xaugust\08-14420-1\task2940354\14420-1-ba.htm',USER='105277',CD='May 14 23:55 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">employment
  with Globalstar through the date on which the options become exercisable.</font></p>
  
  <p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.75in;text-indent:-.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>An
  option to purchase 550,661 shares with an exercise price of $5.00 per share
  that will become exercisable when the closing price of Globalstar common stock
  equals or exceeds $14.08</p>
  
  <p style="margin:0in 0in .0001pt 1.75in;text-indent:-.75in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.75in;text-indent:-.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>An
  option to purchase 335,243 shares with an exercise price of $10.00 per share
  that will become exercisable when the closing price of Globalstar common stock
  equals or exceeds $18.18.</p>
  
  <p style="margin:0in 0in .0001pt 1.75in;text-indent:-.75in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.75in;text-indent:-.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>An
  option to purchase 202,839 shares with an exercise price of $15.00 per share
  that will become exercisable when the closing price of Globalstar common stock
  equals or exceeds $22.18 per share.</p>
  
  <p style="margin:0in 0in .0001pt 1.75in;text-indent:-.75in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.75in;text-indent:-.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>An
  option to purchase 176,001 shares with an exercise price of $20.00 per share
  that will become exercisable when the closing price of Globalstar common stock
  equals or exceeds $25.83 per share.</p>
  
  <p style="margin:0in 0in .0001pt 1.75in;text-indent:-.75in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The closing price calculations will be based from the average closing
  price of a share of common stock over any 20 consecutive trading-day period
  during the five-year period beginning on the grant date as quoted on The NASDAQ
  Global Select Market or such other national or regional securities exchange or
  market system constituting the primary market for the common stock.</font></p>
  
  <p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.&nbsp;Colby
  is subject to a 12-month noncompetition restriction and is obligated to assign
  to the Company any intellectual property related to Globalstar&#146;s present or
  anticipated business developed during his employment.</p>
  
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.&nbsp;Colby
  will be eligible to participate in all benefit plans and programs that are
  generally available to Globalstar senior executive officers, such as employee
  life, health and disability insurance and 401(k)&nbsp;plan participation.</p>
  
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Colby&#146;s employment is at-will.&#160;
  If the Company terminates Mr.&nbsp;Colby&#146;s employment without Cause or
  after two years following a Change of Control, he will be entitled to the
  following severance and benefits:&#160; (i)&nbsp;any
  bonus during the previous calendar year earned but not yet paid,&#160; (ii)&nbsp;a pro rata bonus attributable to
  any partial calendar year prior to termination and (iii)&nbsp;12 monthly
  installment payments of his then-current base salary.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(e)(2)&nbsp;Approval of Amended and Restated
  2006 Equity Incentive Plan</font></i></p>
  
  <p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman">&nbsp;</font></i></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">On May&nbsp;13, 2008, at the Company&#146;s 2008
  Annual Meeting of Stockholders,&#160; the
  Company&#146;s stockholders approved the Amended and Restated Globalstar,&nbsp;Inc.
  2006 Equity Incentive Plan (the &#147;Plan&#148;).&#160;
  The Plan was amended to increase the aggregate number of shares of
  Company common stock available for issuance to plan participants by 3,000,000
  shares and to</font> preserve
  the Company&#146;s ability to claim tax deductions for compensation paid in
  accordance with Section&nbsp;162(m)&nbsp;of the Internal Revenue Code.&#160; The Company&#146;s Board of Directors had
  previously approved the amendments to the Plan at a meeting held March&nbsp;7,
  2008. The amended terms of the Plan and the description thereof are set forth
  in the Company&#146;s Definitive Proxy Statement on Schedule 14A filed with
  the Securities and Exchange Commission on March&nbsp;31, 2008.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">
  
  <hr size="3" width="100%" noshade color="#010101" align="left">
  
  </font></b></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\xaugust\08-14420-1\task2940354\14420-1-ba.htm',USER='105277',CD='May 14 23:55 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 8.01&#160;
  Other Events.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;12 and 13, 2008, an aggregate of 1,097,275 shares of common
  stock of Globalstar, previously granted to five executive officers of the
  Company under Designated Executive Award Agreements and the Plan vested
  pursuant to the terms of the Agreements and the Plan.&#160; All awards under these Agreements are
  calculated using a fixed dollar amount that is converted to shares based on the
  fair market value of the Company&#146;s common stock on the date of grant.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The stock compensation amounts reflected in the Designated Executive
  Award Agreements originated from a cash-based Executive Incentive Compensation
  Plan entered into in 2004.&#160; The Company
  and the executives agreed in August&nbsp;2007 to redesign the compensation
  structure to allow Globalstar to conserve its cash for capital expenditures for
  the procurement and launch of its second-generation satellite constellation and
  related ground station upgrades. The shares described above represent the first
  vesting event under these Agreements.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;12, 2008, the five executive officers began the sale of a
  portion of this common stock pursuant to block trades with a national broker
  dealer.&#160; The executives&#146; sales were
  necessary to meet income tax obligations arising upon vesting of the stock and
  to provide them liquidity for other personal requirements.&#160; Each executive has informed the Company that
  the sales will be reported on Form&nbsp;4 filings with the Securities and
  Exchange Commission.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Full descriptions of the 2004 Executive Incentive Compensation Plan and
  the Designated Executive Award Agreements can be found in the Company&#146;s
  Definitive Proxy Statement on Schedule 14A filed with the Securities and
  Exchange Commission on March&nbsp;31, 2008.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.01 Financial Statements and Exhibits.</font></b></p><p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font face="Times New Roman" style="font-weight:bold;">&nbsp;</font></b></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(d)&nbsp;Exhibits.</font></i></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><i><font size="2" face="Times New Roman">&nbsp;</font></i></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="93%" style="border-collapse:collapse;margin-left:.5in;width:93.0%;">
   <tr>
    <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.16%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.1*</font></p>
    </td>
    <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended and Restated Globalstar,&nbsp;Inc. 2006
    Equity Incentive Plan (Annex A to Definitive Proxy Statement on Schedule 14A
    filed March&nbsp;31, 2008)</font></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.16%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
    </td>
    <td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press release dated May&nbsp;14, 2008</font></p>
    </td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">* Incorporated by reference</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\xaugust\08-14420-1\task2940354\14420-1-ba.htm',USER='105277',CD='May 14 23:55 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" valign="top" style="padding:0in 0in 0in 0in;width:53.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">GLOBALSTAR, INC.</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" valign="top" style="padding:0in 0in 0in 0in;width:53.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" valign="top" style="padding:0in 0in 0in 0in;width:53.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:53.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ James Monroe III</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:53.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">James Monroe III</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" valign="top" style="padding:0in 0in 0in 0in;width:53.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chairman and</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" valign="top" style="padding:0in 0in 0in 0in;width:53.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Executive Officer</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" valign="top" style="padding:0in 0in 0in 0in;width:53.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: May&nbsp;14, 2008</font></p>
    </td>
    <td width="53%" valign="top" style="padding:0in 0in 0in 0in;width:53.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
   </tr>
  </table>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
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metadata_filer: {"company-data": {"conformed-name": "Globalstar, Inc.", "cik": "0001366868", "assigned-sic": "4899", "irs-number": "412116508", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33117", "film-number": "08832065"}, "business-address": {"street1": "461 SOUTH MILPITAS BLVD.", "city": "MILPITAS", "state": "CA", "zip": "95035", "phone": "408-933-4000"}, "mail-address": {"street1": "461 SOUTH MILPITAS BLVD.", "city": "MILPITAS", "state": "CA", "zip": "95035"}}
text: 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):
  May 12,
  2008
  GLOBALSTAR,
  INC.
  (Exact name of registrant as specified in its charter)
  Delaware
  001-33117
  41-2116508
  (State or Other Jurisdiction
  (Commission
  (IRS Employer
  of Incorporation)
  File Number)
  Identification No.)
  461 South Milpitas Blvd. Milpitas,
    California
  95035
  (Address of Principal Executive Offices)
  (Zip Code)
  Registrant's telephone number, including area code:
  (408) 933-4000
  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 Principal
  Officers; Election of Directors; Appointment of Principal Officers.
  (c) Appointment of Chief Operating Officer
  The Board of Directors of Globalstar, Inc.
  (the "Company" or "Globalstar") has appointed Thomas M. Colby as Chief
  Operating Officer of the Company effective May 19, 2008. The principal
  terms of Mr. Colby's employment are provided below under subsection (e)(1) of
  this Item. The
  Company's press release announcing the appointment
  is filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by
  reference.
  Mr. Colby, age 47, has been Vice
  President and General Manager of Trimble Navigation Limited (NASDAQ: TRMB), a
  provider of advanced positioning solutions, since June 2005.  From June 2004 to February 2005, he
  was a consultant to SRI International, an independent, nonprofit research
  institute conducting client-sponsored research and development for government
  agencies, commercial businesses, foundations, and other organizations.  From July 2002 to April 2004 he was
  Chief Executive Officer of Eyematic Interfaces Inc., a developer of consumer
  mobile applications and camera phone software which was sold in 2004.
  Mr. Colby does not have any family
  relationship with any director or executive officer of Globalstar and has not
  been directly or indirectly involved in any transactions with the Company.
  (e)(1)  Agreement with Mr. Colby
  On May 1, 2008, the Company and Mr. Colby entered into an
  agreement effective as of May 19, 2008. 
  The principal terms of Mr. Colby's employment are as follows:
  ·
  Mr. Colby
  will receive an annualized base salary of $300,000.
  ·
  Mr. Colby
  will be eligible to receive an annual bonus equal to 50% of his base salary
  upon the achievement of certain performance criteria approved by the Board or
  its Compensation Committee from time to time.
  ·
  Mr. Colby
  will be eligible to receive a $500,000 special bonus, payable at the option of
  the Company in cash or shares of Company common stock, after the Board
  determines that not less than 24 satellites of Globalstar's "second-generation
  constellation" have entered commercial service and are performing
  satisfactorily in carrying two-way voice and data, revenue capable, traffic.
  ·
  Mr. Colby
  will receive the following equity awards within 90 days of May 19, 2008:
  ·
  A restricted
  stock award consisting of a number of shares of common stock equal to
  $1,600,000 that will vest on the anniversary of his employment in each of 2011,
  2012 and 2013, contingent, with respect to each installment, on his continuous
  employment with Globalstar through the date of vesting.
  ·
  Four
  nonqualified options to purchase an aggregate of 1,264,744 shares of Globalstar
  common stock that expire 10 years from the date of grant.  The options will be exercisable when the
  closing price per share of Globalstar common stock reaches certain values,
  contingent, with respect to each installment, on his continuous
  2
  employment
  with Globalstar through the date on which the options become exercisable.
  1)
  An
  option to purchase 550,661 shares with an exercise price of $5.00 per share
  that will become exercisable when the closing price of Globalstar common stock
  equals or exceeds $14.08
  2)
  An
  option to purchase 335,243 shares with an exercise price of $10.00 per share
  that will become exercisable when the closing price of Globalstar common stock
  equals or exceeds $18.18.
  3)
  An
  option to purchase 202,839 shares with an exercise price of $15.00 per share
  that will become exercisable when the closing price of Globalstar common stock
  equals or exceeds $22.18 per share.
  4)
  An
  option to purchase 176,001 shares with an exercise price of $20.00 per share
  that will become exercisable when the closing price of Globalstar common stock
  equals or exceeds $25.83 per share.
  The closing price calculations will be based from the average closing
  price of a share of common stock over any 20 consecutive trading-day period
  during the five-year period beginning on the grant date as quoted on The NASDAQ
  Global Select Market or such other national or regional securities exchange or
  market system constituting the primary market for the common stock.
  ·
  Mr. Colby
  is subject to a 12-month noncompetition restriction and is obligated to assign
  to the Company any intellectual property related to Globalstar's present or
  anticipated business developed during his employment.
  ·
  Mr. Colby
  will be eligible to participate in all benefit plans and programs that are
  generally available to Globalstar senior executive officers, such as employee
  life, health and disability insurance and 401(k) plan participation.
  Mr. Colby's employment is at-will. 
  If the Company terminates Mr. Colby's employment without Cause or
  after two years following a Change of Control, he will be entitled to the
  following severance and benefits:  (i) any
  bonus during the previous calendar year earned but not yet paid,  (ii) a pro rata bonus attributable to
  any partial calendar year prior to termination and (iii) 12 monthly
  installment payments of his then-current base salary.
  (e)(2) Approval of Amended and Restated
  2006 Equity Incentive Plan
  On May 13, 2008, at the Company's 2008
  Annual Meeting of Stockholders,  the
  Company's stockholders approved the Amended and Restated Globalstar, Inc.
  2006 Equity Incentive Plan (the "Plan"). 
  The Plan was amended to increase the aggregate number of shares of
  Company common stock available for issuance to plan participants by 3,000,000
  shares and to
  preserve
  the Company's ability to claim tax deductions for compensation paid in
  accordance with Section 162(m) of the Internal Revenue Code.  The Company's Board of Directors had
  previously approved the amendments to the Plan at a meeting held March 7,
  2008. The amended terms of the Plan and the description thereof are set forth
  in the Company's Definitive Proxy Statement on Schedule 14A filed with
  the Securities and Exchange Commission on March 31, 2008.
  3
  Item 8.01 
  Other Events.
  On May 12 and 13, 2008, an aggregate of 1,097,275 shares of common
  stock of Globalstar, previously granted to five executive officers of the
  Company under Designated Executive Award Agreements and the Plan vested
  pursuant to the terms of the Agreements and the Plan.  All awards under these Agreements are
  calculated using a fixed dollar amount that is converted to shares based on the
  fair market value of the Company's common stock on the date of grant.
  The stock compensation amounts reflected in the Designated Executive
  Award Agreements originated from a cash-based Executive Incentive Compensation
  Plan entered into in 2004.  The Company
  and the executives agreed in August 2007 to redesign the compensation
  structure to allow Globalstar to conserve its cash for capital expenditures for
  the procurement and launch of its second-generation satellite constellation and
  related ground station upgrades. The shares described above represent the first
  vesting event under these Agreements.
  On May 12, 2008, the five executive officers began the sale of a
  portion of this common stock pursuant to block trades with a national broker
  dealer.  The executives' sales were
  necessary to meet income tax obligations arising upon vesting of the stock and
  to provide them liquidity for other personal requirements.  Each executive has informed the Company that
  the sales will be reported on Form 4 filings with the Securities and
  Exchange Commission.
  Full descriptions of the 2004 Executive Incentive Compensation Plan and
  the Designated Executive Award Agreements can be found in the Company's
  Definitive Proxy Statement on Schedule 14A filed with the Securities and
  Exchange Commission on March 31, 2008.
  Item 9.01 Financial Statements and Exhibits.
  (d) Exhibits.
  10.1*
  Amended and Restated Globalstar, Inc. 2006
    Equity Incentive Plan (Annex A to Definitive Proxy Statement on Schedule 14A
    filed March 31, 2008)
  99.1
  Press release dated May 14, 2008
  * Incorporated by reference
  4
  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.
  GLOBALSTAR, INC.
  /s/ James Monroe III
  James Monroe III
  Chairman and
  Chief Executive Officer
  Date: May 14, 2008
  5