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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): March 27, 2009</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>VERICHIP CORPORATION<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

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    <TD width="32%">&nbsp;</TD>
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    <TD width="33%">&nbsp;</TD>
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    <TD width="32%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>DELAWARE</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>001-33297</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>06-1637809</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
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    <TD width="49%">&nbsp;</TD>
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    <TD width="49%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>1690 SOUTH CONGRESS AVENUE, SUITE 200<BR>DELRAY BEACH, FLORIDA<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>33445</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>561-805-8008</B>


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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="center" style="font-size: 10pt; display: none">1
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<P align="justify" style="margin-right:2%; font-size: 10pt"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.</B>


<P align="justify" style="font-size: 10pt">On March&nbsp;27, 2009, VeriChip Corporation (the &#147;Company&#148;) and its Acting Chief Financial Officer, William J. Caragol,
entered into a letter agreement (the &#147;New Letter Agreement&#148;), which amends and restates the letter agreement dated
December&nbsp;31, 2008 (the &#147;Original Letter Agreement&#148;). The New Letter Agreement differs from the Original Letter
Agreement as follows:


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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The New Letter Agreement is effective from December&nbsp;31, 2008 until January&nbsp;1, 2010, an extension from
the Original Letter Agreement, which was effective through July&nbsp;31, 2009;</DIV></TD>
</TR>

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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The 518,519 shares of restricted stock issued to Mr.&nbsp;Caragol pursuant to the Original Letter Agreement
will be forfeited before vesting in the event Mr.&nbsp;Caragol fails to remain involved in the day-to-day
management of the Company until the earlier to occur of January&nbsp;1, 2010 or a Change in Control of the
Company (as defined in the Company&#146;s Amended and Restated 2007 Stock Incentive Plan); and</DIV></TD>
</TR>

</TABLE>


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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Unless forfeited before vesting, 80% of the restricted stock will vest on January&nbsp;1, 2010.</DIV></TD>
</TR>

</TABLE>


<P align="justify" style="font-size: 10pt">The foregoing description of the New Letter Agreement does not purport to be complete and is qualified in its entirety
by reference to the complete text of the New Letter Agreement, a copy of which is attached as Exhibit&nbsp;10.1 to this
Current Report on Form 8-K, and is incorporated herein by reference.


<P align="justify" style="margin-right:2%; font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>


<P align="justify" style="font-size: 10pt; text-indent: 4%">(d)&nbsp;Exhibits

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    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit&nbsp;No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter Agreement, dated March&nbsp;27, 2009, between VeriChip
Corporation and William J. Caragol</TD>
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<P align="center" style="font-size: 10pt">2
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
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<P align="center" style="font-size: 10pt"><U><B>SIGNATURES</B></U>



<P align="justify" style="font-size: 10pt; text-indent: 3%">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.

<DIV align="center">
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>VeriChip Corporation</B></TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: March&nbsp;30, 2009</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ William J. Caragol</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">William J. Caragol</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Acting Chief Financial Officer</TD>
</TR>
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<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">3
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<P align="center" style="font-size: 10pt"><U><B>EXHIBIT&nbsp;INDEX</B></U>


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    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
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<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit&nbsp;Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter Agreement, dated March&nbsp;27, 2009, between VeriChip
Corporation and William J. Caragol</TD>
</TR>
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<P align="center" style="font-size: 10pt">4

<P align="center" style="font-size: 10pt">&nbsp;

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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 27, 2009
VERICHIP CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE
001-33297
06-1637809
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1690 SOUTH CONGRESS AVENUE, SUITE 200
DELRAY BEACH, FLORIDA
33445
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
561-805-8008
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On March 27, 2009, VeriChip Corporation (the "Company") and its Acting Chief Financial Officer, William J. Caragol,
entered into a letter agreement (the "New Letter Agreement"), which amends and restates the letter agreement dated
December 31, 2008 (the "Original Letter Agreement"). The New Letter Agreement differs from the Original Letter
Agreement as follows:
•
The New Letter Agreement is effective from December 31, 2008 until January 1, 2010, an extension from
the Original Letter Agreement, which was effective through July 31, 2009;
•
The 518,519 shares of restricted stock issued to Mr. Caragol pursuant to the Original Letter Agreement
will be forfeited before vesting in the event Mr. Caragol fails to remain involved in the day-to-day
management of the Company until the earlier to occur of January 1, 2010 or a Change in Control of the
Company (as defined in the Company's Amended and Restated 2007 Stock Incentive Plan); and
•
Unless forfeited before vesting, 80% of the restricted stock will vest on January 1, 2010.
The foregoing description of the New Letter Agreement does not purport to be complete and is qualified in its entirety
by reference to the complete text of the New Letter Agreement, a copy of which is attached as Exhibit 10.1 to this
Current Report on Form 8-K, and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
10.1
Letter Agreement, dated March 27, 2009, between VeriChip
Corporation and William J. Caragol
2
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.
VeriChip Corporation
Date: March 30, 2009
/s/ William J. Caragol
William J. Caragol
Acting Chief Financial Officer
3
EXHIBIT INDEX
Exhibit Number
Description
10.1
Letter Agreement, dated March 27, 2009, between VeriChip
Corporation and William J. Caragol
4