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  <TITLE> Metalico, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	March 21, 2007
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  	Metalico, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	&nbsp;
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  	Delaware
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  	001-32453
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  	52-2169780
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	&nbsp;
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  	186 North Ave. East, Cranford, New Jersey
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  	&nbsp;
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  	07016
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	(908) 497-9610
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT 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>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <FONT SIZE="2">Top of the Form</FONT>
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  <B>
  	Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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  (e)<br><br>On March 21, 2007, the Company entered into employment agreements with the following named executive officers:  Carlos E. Aguero, Chairman, President and Chief Executive Officer; Michael J. Drury, Executive Vice President; Arnold S. Graber, Executive Vice President, General Counsel and Secretary; and Eric W. Finlayson, Senior Vice President and Chief Financial Officer.  Each agreement is effective retroactive to January 1, 2007 and has a three-year term.<br><br>The agreements provide for minimum annual compensation and eligibility to receive annual performance bonuses in a combination of cash payments and option grants.  Salaries are specified for the first year of the employment term and thereafter increase each year by a percentage equal to the increase in the Consumer Price Index over the previous year, provided that such increases cannot be less than 3.5% or greater than 7%.  Salaries for 2007 are: Mr. Aguero, $350,000; Mr. Drury, $240,000; Mr. Graber, $225,000; and Mr. Finlayson, $160,000.  (The 2007 salary for Warren Jennings, Vice President of Operations, was set by the Board of Directors at $190,000.)  The actual amount of the annual bonus will be determined based upon the named executive&#x2019;s performance, the Company's performance, and certain performance targets recommended by the Competition Committee of the Board of Directors under the Company's Executive Bonus Plan and Long-Term Incentive Plans and approved by the Board.  Under their respective agreements the Company also provides each of Messrs. Ag&#252;ero and Drury with a $500,000 life insurance policy and each of Messrs. Graber and Finlayson with a $300,000 life insurance policy.  Each named executive officer is also furnished with the use of a car.<br><br>If the executive&#x2019;s employment is terminated on account of death or disability, the executive is entitled to no further compensation or benefits other than those earned through the month in which such termination occurs. If the executive&#x2019;s employment is terminated by the Company for cause or if the executive terminates his own employment for any reason other than for good reason, the executive is entitled to no further compensation or benefits other than those earned through the date of termination.  If the executive&#x2019;s employment is terminated for any reason other than for cause, death or disability, or if the executive terminates his own employment for good reason, the Company will provide, as severance benefits, payment of 100% of the executive&#x2019;s base salary at the rate in effect on the date of termination, and continuation of health and medical benefits and life insurance for the twelve-month period following such termination, and immediate vesting of any unvested options.  All unvested options vest upon a change in control regardless of whether a termination occurs.<br><br>Each agreement contains confidentiality restrictions applicable during and after the period of employment, non-solicitation of employees during the period of employment and for two years following termination, and non-competition and other non-solicitation provisions applicable during the period of employment and, upon payment of an additional sum equal to the executive&#x2019;s annual base salary for each year, for up to two years following termination of employment.<br>
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  <B>
  	Item 9.01 Financial Statements and Exhibits.
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  Ex. 10.3 Employment Agreement between Metalico, Inc. and Carlos E. Aguero<br>Ex. 10.4 Employment Agreement between Metalico, Inc. and Michael J. Drury<br>Ex. 10.5 Employment Agreement between Metalico, Inc. and Arnold S. Graber<br>Ex. 10.6 Employment Agreement between Metalico, Inc. and Eric W. Finlayson<br>
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  	SIGNATURES
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  	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.
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  	&nbsp;
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  	Metalico, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	March 21, 2007
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  	&nbsp;
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  <I>
  	By:
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  <I>
  	Carlos E. Aguero
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  	&nbsp;
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  <I>
  	Name: Carlos E. Aguero
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  	&nbsp;
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  <I>
  	Title: Chairman, President and Chief Executive Officer
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  	Exhibit&nbsp;Index
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  <B>
  	Exhibit No.
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  	&nbsp;
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  	Description
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  	10.3
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  	&nbsp;
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  Employment Agreement between Metalico, Inc. and Carlos E. Aguero
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  	10.4
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  	&nbsp;
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  Employment Agreement between Metalico, Inc. and Michael J. Drury
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  	10.5
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  	&nbsp;
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  Employment Agreement between Metalico, Inc. and Arnold S. Graber
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  	10.6
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  	&nbsp;
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  Employment Agreement between Metalico, Inc. and Eric W. Finlayson
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metadata_filer: {"company-data": {"conformed-name": "METALICO INC", "cik": "0001048685", "assigned-sic": "3341", "irs-number": "000000000", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32453", "film-number": "07709323"}, "business-address": {"street1": "186 NORTH AVE EAST", "street2": "908-497-9610", "city": "CRANFORD", "state": "NJ", "zip": "07016", "phone": "908-497-9610"}, "mail-address": {"street1": "186 NORTH AVENUE EAST", "city": "CRANFORD", "state": "NJ", "zip": "07016"}, "former-company": {"former-conformed-name": "METALICO INC /NJ", "date-changed": "19971029"}}
text: Metalico, Inc. (Form: 8-K)
  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 21, 2007
  Metalico, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  001-32453
  52-2169780
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  186 North Ave. East, Cranford, New Jersey
  07016
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (908) 497-9610
  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))
  Top of the Form
  Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
  (e)
  On March 21, 2007, the Company entered into employment agreements with the following named executive officers:  Carlos E. Aguero, Chairman, President and Chief Executive Officer; Michael J. Drury, Executive Vice President; Arnold S. Graber, Executive Vice President, General Counsel and Secretary; and Eric W. Finlayson, Senior Vice President and Chief Financial Officer.  Each agreement is effective retroactive to January 1, 2007 and has a three-year term.
  The agreements provide for minimum annual compensation and eligibility to receive annual performance bonuses in a combination of cash payments and option grants.  Salaries are specified for the first year of the employment term and thereafter increase each year by a percentage equal to the increase in the Consumer Price Index over the previous year, provided that such increases cannot be less than 3.5% or greater than 7%.  Salaries for 2007 are: Mr. Aguero, $350,000; Mr. Drury, $240,000; Mr. Graber, $225,000; and Mr. Finlayson, $160,000.  (The 2007 salary for Warren Jennings, Vice President of Operations, was set by the Board of Directors at $190,000.)  The actual amount of the annual bonus will be determined based upon the named executive's performance, the Company's performance, and certain performance targets recommended by the Competition Committee of the Board of Directors under the Company's Executive Bonus Plan and Long-Term Incentive Plans and approved by the Board.  Under their respective agreements the Company also provides each of Messrs. Agüero and Drury with a $500,000 life insurance policy and each of Messrs. Graber and Finlayson with a $300,000 life insurance policy.  Each named executive officer is also furnished with the use of a car.
  If the executive's employment is terminated on account of death or disability, the executive is entitled to no further compensation or benefits other than those earned through the month in which such termination occurs. If the executive's employment is terminated by the Company for cause or if the executive terminates his own employment for any reason other than for good reason, the executive is entitled to no further compensation or benefits other than those earned through the date of termination.  If the executive's employment is terminated for any reason other than for cause, death or disability, or if the executive terminates his own employment for good reason, the Company will provide, as severance benefits, payment of 100% of the executive's base salary at the rate in effect on the date of termination, and continuation of health and medical benefits and life insurance for the twelve-month period following such termination, and immediate vesting of any unvested options.  All unvested options vest upon a change in control regardless of whether a termination occurs.
  Each agreement contains confidentiality restrictions applicable during and after the period of employment, non-solicitation of employees during the period of employment and for two years following termination, and non-competition and other non-solicitation provisions applicable during the period of employment and, upon payment of an additional sum equal to the executive's annual base salary for each year, for up to two years following termination of employment.
  Item 9.01 Financial Statements and Exhibits.
  Ex. 10.3 Employment Agreement between Metalico, Inc. and Carlos E. Aguero
  Ex. 10.4 Employment Agreement between Metalico, Inc. and Michael J. Drury
  Ex. 10.5 Employment Agreement between Metalico, Inc. and Arnold S. Graber
  Ex. 10.6 Employment Agreement between Metalico, Inc. and Eric W. Finlayson
  Top of the Form
  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.
  Metalico, Inc.
  March 21, 2007
  By:
  Carlos E. Aguero
  Name: Carlos E. Aguero
  Title: Chairman, President and Chief Executive Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.3
  Employment Agreement between Metalico, Inc. and Carlos E. Aguero
  10.4
  Employment Agreement between Metalico, Inc. and Michael J. Drury
  10.5
  Employment Agreement between Metalico, Inc. and Arnold S. Graber
  10.6
  Employment Agreement between Metalico, Inc. and Eric W. Finlayson