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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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  	May 11, 2007
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  	Keithley Instruments, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Ohio
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  	1-9965
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  	34-0794417
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  _____________________<BR>
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  _____________<BR>
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  ______________<BR>
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	28775 Aurora Road, Solon, Ohio
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  	44139
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  _________________________________<BR>
  	(Address of principal executive offices)
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	(440) 248-0400
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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>
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  [&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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  	Item 1.01 Entry into a Material Definitive Agreement.
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  On May 11, 2007, Keithley Instruments, Inc. (the "Company") entered into indemnification agreements with Thomas A. Saponas, as a member of the Board of Directors, and with Suzanne Schulze Taylor, as an executive officer.<br><br>In general, the indemnification agreements provide Mr. Saponas and Ms. Taylor with contractual rights to indemnification and advancement or reimbursement of expenses to the fullest extend permitted under Section 1701.13 of the Ohio General Corporation Law in connection with any and all expenses, judgments, fines, penalties, and amounts paid in settlement incurred by the director or executive officer as a result of their service to, and actions on behalf of, the Company. The Company's Code of Regulations currently provides that the Company is required to indemnify its officers and directors to the fullest extent allowable under applicable law.<br><br>The above description of the indemnfication agreements does not purport to be complete and is qualified in its entirety to the form of the indemnification agreement entered into by Mr. Saponas incorporated herein by reference as Exhibit 10.1 and by Ms. Taylor incorporated herein by reference as Exhibit 10.2. (Reference is made to Exhibit 10.1 and Exhibit 10.2 of the Company's Current Report on Form 8-K dated December 2, 2004 (File No. 001-09965), which Exhibits are incorporated herein by reference.)
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  	Item 9.01 Financial Statements and Exhibits.
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  (c) Exhibits.<br><br>10.1 Form of Indemnification Agreement entered into by the Company and Thomas A. Saponas, as a member of the Company's Board of Directors, on May 11, 2007. (Reference is made to Exhibit 10.1 of the Company's Current Report on Form 8-K dated December 2, 2004 (File No. 001-09965), which Exhibit is incorporated herein by reference.)<br><br>10.2 Form of Indemnification Agreement entered into by the Company and Suzanne Schulze Taylor, as an executive officer of the Company, on May 11, 2007. (Reference is made to Exhibit 10.2 of the Company's Current Report on Form 8-K dated December 2, 2004 (File No. 001-09965), which Exhibit is incorporated herein by reference.)<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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  	Keithley Instruments, Inc.
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  <I>
  	May 16, 2007
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  	By:
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  <I>
  	Mark J. Plush
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  	Name: Mark J. Plush
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  	Title: Vice President and Chief Financial Officer
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_20355.htm", "description": "LIVE FILING", "secsgml_size_bytes": 10503}]
metadata_filer: {"company-data": {"conformed-name": "KEITHLEY INSTRUMENTS INC", "cik": "0000054991", "assigned-sic": "3825", "irs-number": "340794417", "state-of-incorporation": "OH", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09965", "film-number": "07857654"}, "business-address": {"street1": "28775 AURORA RD", "city": "SOLON", "state": "OH", "zip": "44139", "phone": "2162480400"}}
text: Keithley Instruments, 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):
  May 11, 2007
  Keithley Instruments, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Ohio
  1-9965
  34-0794417
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  28775 Aurora Road, Solon, Ohio
  44139
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (440) 248-0400
  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 1.01 Entry into a Material Definitive Agreement.
  On May 11, 2007, Keithley Instruments, Inc. (the "Company") entered into indemnification agreements with Thomas A. Saponas, as a member of the Board of Directors, and with Suzanne Schulze Taylor, as an executive officer.
  In general, the indemnification agreements provide Mr. Saponas and Ms. Taylor with contractual rights to indemnification and advancement or reimbursement of expenses to the fullest extend permitted under Section 1701.13 of the Ohio General Corporation Law in connection with any and all expenses, judgments, fines, penalties, and amounts paid in settlement incurred by the director or executive officer as a result of their service to, and actions on behalf of, the Company. The Company's Code of Regulations currently provides that the Company is required to indemnify its officers and directors to the fullest extent allowable under applicable law.
  The above description of the indemnfication agreements does not purport to be complete and is qualified in its entirety to the form of the indemnification agreement entered into by Mr. Saponas incorporated herein by reference as Exhibit 10.1 and by Ms. Taylor incorporated herein by reference as Exhibit 10.2. (Reference is made to Exhibit 10.1 and Exhibit 10.2 of the Company's Current Report on Form 8-K dated December 2, 2004 (File No. 001-09965), which Exhibits are incorporated herein by reference.)
  Item 9.01 Financial Statements and Exhibits.
  (c) Exhibits.
  10.1 Form of Indemnification Agreement entered into by the Company and Thomas A. Saponas, as a member of the Company's Board of Directors, on May 11, 2007. (Reference is made to Exhibit 10.1 of the Company's Current Report on Form 8-K dated December 2, 2004 (File No. 001-09965), which Exhibit is incorporated herein by reference.)
  10.2 Form of Indemnification Agreement entered into by the Company and Suzanne Schulze Taylor, as an executive officer of the Company, on May 11, 2007. (Reference is made to Exhibit 10.2 of the Company's Current Report on Form 8-K dated December 2, 2004 (File No. 001-09965), which Exhibit is incorporated herein by reference.)
  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.
  Keithley Instruments, Inc.
  May 16, 2007
  By:
  Mark J. Plush
  Name: Mark J. Plush
  Title: Vice President and Chief Financial Officer