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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): April 30, 2009</B>

<P align="center">

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

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
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    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&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>1-32582</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>20-3112047</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>
</TABLE>

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    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>100 Pike Way<BR>Mount Airy, NC<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>27030</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>(336) 789-2171</B>


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    <TD nowrap style="border-bottom: 1px solid #000000"><B>Not Applicable<BR></B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<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">&nbsp;

<P align="center" style="font-size: 10pt; display: none">1
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Item&nbsp;1.01.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Entry into a Material Definitive Agreement.</B></TD>
</TR>

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<P align="left" style="font-size: 10pt; text-indent: 4%">At its meeting held on April&nbsp;30, 2009, the Board of Directors (the &#147;Board&#148;) of Pike Electric Corporation
(the&nbsp;&#147;Company&#148;) approved the form of an indemnification agreement (the &#147;Indemnification Agreement&#148;) to be entered into
between the Company and the Board&#146;s members (the &#147;Directors&#148;). The Indemnification Agreements provide that the Company
will indemnify and hold harmless a Director if the Director is made a party to or is otherwise involved in certain
legal proceedings as a result of actions related to the Director&#146;s service as a director of the Company or as a
director of another enterprise at the Company&#146;s request.&nbsp; Such indemnification includes all expenses (including
attorneys&#146; fees), judgments, fines and other amounts paid in settlement, provided that the director acted in good faith
and in a manner the director reasonably believed to be in the best interests of the Company.&nbsp; The Indemnification
Agreements require the Company to advance the expenses incurred by a Director in defending against any such
proceeding.&nbsp; However, the Director must deliver an undertaking to the Company to repay all amounts advanced if it is
ultimately determined that the Director is not entitled to be indemnified. The rights of the Directors under the
Indemnification Agreements are not exclusive and are in addition to their rights under the Company&#146;s certificate of
incorporation and bylaws and under applicable law.


<P align="left" style="font-size: 10pt; text-indent: 4%">The foregoing summary does not constitute a complete summary of the Indemnification Agreement and is qualified in
its entirety by reference to the complete text of the Indemnification Agreement which is attached hereto as Exhibit
10.1 and is incorporated herein by reference.


<P>
<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="3%" nowrap align="left"><B>Item&nbsp;5.02.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.</B></TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt; text-indent: 4%">On May&nbsp;1, 2009, the Company entered into an amendment (the &#147;Amendment&#148;) to the Amended and Restated Employment
Agreement dated September&nbsp;24, 2008, by and between the Company and J.&nbsp;Eric Pike, the Company&#146;s Chairman and Chief
Executive Officer (the&nbsp;&#147;Employment Agreement&#148;). The Amendment, among other things, (i)&nbsp; provides that the Company&#146;s
obligation of continuing group health coverage as a severance benefit could instead be satisfied through payment or
reimbursement of COBRA under certain circumstances, (ii)&nbsp;further clarified the restricted territory for purposes of the
non-competition covenant, (iii)&nbsp;provides for indemnification of Mr.&nbsp;Pike by the Company on terms substantially similar
to those provided to the Directors described in Item&nbsp;1.01 above and extending such terms to his actions as an officer,
employee or agent of the Company or in a similar capacity for another
enterprise at the Company&#146;s request, (iv)&nbsp;changes
the governing law of the Employment Agreement to that of North Carolina except for matters regarding indemnity in which
case the governing law is that of Delaware, and (v)&nbsp;further expands the terms of the mandatory arbitration provisions
in the Employment Agreement.


<P align="left" style="font-size: 10pt; text-indent: 4%">The foregoing summary does not constitute a complete summary of the Amendment and is qualified in its entirety by
reference to the complete text of the Amendment which is attached hereto as Exhibit&nbsp;10.2 and is incorporated herein by
reference.


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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Item&nbsp;5.03.</B>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B> Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.</B></TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt; text-indent: 4%">On and
effective as of April&nbsp;30, 2009, the Board amended and restated the Company&#146;s bylaws (the &#147;Bylaws&#148;) to
require additional information in the advance notice provisions for stockholder proposals and nominations, to provide
more accurate and complete descriptions of the duties and authority of the officers, to revise the provisions regarding
indemnification of directors and officers, and to make various technical corrections and conforming changes. These
changes, which were made to Sections&nbsp;2.07 and 3.03 and Articles IV and V of the Bylaws, are summarized below:

<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
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<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>Added a requirement that a stockholder presenting a stockholder proposal or making a Director
nomination disclose information as to indirect, derivative and other &#147;synthetic&#148; shareholdings or other
economic interests of such stockholder and certain related parties;</TD>
</TR>

</TABLE>


<P>
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<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>Added a requirement that a director nominee must provide information reasonably required by the
Company to determine whether such nominee would be an &#147;independent&#148; director;</TD>
</TR>

</TABLE>


<P>
<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>Revised the officer descriptions to provide more accurate and complete descriptions of the duties and
authority of the officers;</TD>
</TR>

</TABLE>


<P>
<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>Revised the mandatory indemnification provided by Sections&nbsp;5.01 and 5.02 of the Bylaws to be limited
to current and former directors and officers;</TD>
</TR>

</TABLE>


<P>
<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>Revised Section&nbsp;5.06 of the Bylaws to require the Company to make advances of expenses in the defense
of a proceeding before the final outcome is determined to current or former directors and officers, so
long as the expenses were actually and reasonably incurred, as subject to an undertaking to repay such
expenses if it is finally determined that the director or officer was not entitled to be indemnified for
them;</TD>
</TR>

</TABLE>


<P>
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<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>Revised Section&nbsp;5.11 of the Bylaws to expand the list of items that are excluded from indemnification
to include (a)&nbsp;proceedings brought by the Company or anyone else to enforce employment, non-compete and
other agreements between the indemnified person and the Company or its affiliates and (b)&nbsp;recoveries of
&#147;short-swing profits&#148; under Section&nbsp;16 of the Securities Exchange Act of 1934; and</TD>
</TR>

</TABLE>


<P>
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<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>Added a new Section&nbsp;5.12 of the Bylaws to prohibit retroactive repeal or modification of the
indemnification or advancement rights provided in the Bylaws.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt; text-indent: 4%">The foregoing summary does not constitute a complete summary of the Bylaws and is qualified in its entirety by
reference to the complete text of the Bylaws which is attached hereto as Exhibit&nbsp;3.1 and is incorporated herein by
reference.


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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Item&nbsp;9.01</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits.</B></TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Exhibits</I></TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">The following exhibits are filed in accordance with the provisions of Item&nbsp;601 of Regulation&nbsp;S-K:

<DIV align="center">
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<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit&nbsp;No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Exhibit Description</B></TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Bylaws of Pike Electric Corporation, as of April&nbsp;30, 2009</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">Form&nbsp;of Indemnification Agreement between Pike Electric Corporation and its
Directors</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Amendment to Amended and Restated Employment Agreement, dated May&nbsp;1,
2009, by and between Pike Electric Corporation and J. Eric Pike</TD>
</TR>
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</TABLE>
</DIV>

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

<P align="left" style="font-size: 10pt">*&nbsp;Indicates a management contract or compensatory plan or arrangement.


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





<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"><B>Signature</B>



<P align="left" 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.

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    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>PIKE ELECTRIC CORPORATION</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"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;5, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By: <u>/s/ James R. Fox&nbsp;</u></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">Name: James R. Fox</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">Title: General Counsel, Chief Risk Officer<BR> and Corporate
Secretary</TD>
</TR>
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</TABLE>
</DIV>


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





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

<P align="center" style="font-size: 10pt; display: none">4
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<P align="center" style="font-size: 10pt">SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, DC



<P align="center" style="font-size: 10pt">EXHIBITS



<P align="center" style="font-size: 10pt">CURRENT REPORT<BR>
ON<BR>
FORM 8-K


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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date of Event Reported:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Commission File No:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">April&nbsp;30, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">1-32582</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">PIKE ELECTRIC CORPORATION



<P align="center" style="font-size: 10pt">EXHIBIT INDEX


<DIV align="center">
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<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit&nbsp;No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Exhibit Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Bylaws of Pike Electric Corporation, as of April&nbsp;30, 2009</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">Form&nbsp;of Indemnification Agreement between Pike Electric Corporation and its
Directors</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Amendment to Amended and Restated Employment Agreement, dated May&nbsp;1,
2009, by and between Pike Electric Corporation and J. Eric Pike</TD>
</TR>
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</TABLE>
</DIV>

<P align="left" style="font-size: 10pt"><u>&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
<P align="left" style="font-size: 10pt">*&nbsp;Indicates a management contract or compensatory plan or arrangement.


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

<P align="center" style="font-size: 10pt; display: none">5




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{"company-data": {"conformed-name": "Pike Electric CORP", "cik": "0001317577", "assigned-sic": "1731", "irs-number": "203112047", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32582", "film-number": "09797243"}, "business-address": {"street1": "100 PIKE WAY", "city": "MOUNT AIRY", "state": "NC", "zip": "27030", "phone": "(336) 789-2171"}, "mail-address": {"street1": "100 PIKE WAY", "city": "MOUNT AIRY", "state": "NC", "zip": "27030"}, "former-company": {"former-conformed-name": "Pike Holdings, Inc.", "date-changed": "20050214"}}
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): April 30, 2009
PIKE ELECTRIC CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
1-32582
20-3112047
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
100 Pike Way
Mount Airy, NC
27030
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(336) 789-2171
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:
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 1.01.
Entry into a Material Definitive Agreement.
At its meeting held on April 30, 2009, the Board of Directors (the "Board") of Pike Electric Corporation
(the "Company") approved the form of an indemnification agreement (the "Indemnification Agreement") to be entered into
between the Company and the Board's members (the "Directors"). The Indemnification Agreements provide that the Company
will indemnify and hold harmless a Director if the Director is made a party to or is otherwise involved in certain
legal proceedings as a result of actions related to the Director's service as a director of the Company or as a
director of another enterprise at the Company's request.  Such indemnification includes all expenses (including
attorneys' fees), judgments, fines and other amounts paid in settlement, provided that the director acted in good faith
and in a manner the director reasonably believed to be in the best interests of the Company.  The Indemnification
Agreements require the Company to advance the expenses incurred by a Director in defending against any such
proceeding.  However, the Director must deliver an undertaking to the Company to repay all amounts advanced if it is
ultimately determined that the Director is not entitled to be indemnified. The rights of the Directors under the
Indemnification Agreements are not exclusive and are in addition to their rights under the Company's certificate of
incorporation and bylaws and under applicable law.
The foregoing summary does not constitute a complete summary of the Indemnification Agreement and is qualified in
its entirety by reference to the complete text of the Indemnification Agreement which is attached hereto as Exhibit
10.1 and is incorporated herein by reference.
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On May 1, 2009, the Company entered into an amendment (the "Amendment") to the Amended and Restated Employment
Agreement dated September 24, 2008, by and between the Company and J. Eric Pike, the Company's Chairman and Chief
Executive Officer (the "Employment Agreement"). The Amendment, among other things, (i)  provides that the Company's
obligation of continuing group health coverage as a severance benefit could instead be satisfied through payment or
reimbursement of COBRA under certain circumstances, (ii) further clarified the restricted territory for purposes of the
non-competition covenant, (iii) provides for indemnification of Mr. Pike by the Company on terms substantially similar
to those provided to the Directors described in Item 1.01 above and extending such terms to his actions as an officer,
employee or agent of the Company or in a similar capacity for another
enterprise at the Company's request, (iv) changes
the governing law of the Employment Agreement to that of North Carolina except for matters regarding indemnity in which
case the governing law is that of Delaware, and (v) further expands the terms of the mandatory arbitration provisions
in the Employment Agreement.
The foregoing summary does not constitute a complete summary of the Amendment and is qualified in its entirety by
reference to the complete text of the Amendment which is attached hereto as Exhibit 10.2 and is incorporated herein by
reference.
Item 5.03.
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On and
effective as of April 30, 2009, the Board amended and restated the Company's bylaws (the "Bylaws") to
require additional information in the advance notice provisions for stockholder proposals and nominations, to provide
more accurate and complete descriptions of the duties and authority of the officers, to revise the provisions regarding
indemnification of directors and officers, and to make various technical corrections and conforming changes. These
changes, which were made to Sections 2.07 and 3.03 and Articles IV and V of the Bylaws, are summarized below:
•
Added a requirement that a stockholder presenting a stockholder proposal or making a Director
nomination disclose information as to indirect, derivative and other "synthetic" shareholdings or other
economic interests of such stockholder and certain related parties;
•
Added a requirement that a director nominee must provide information reasonably required by the
Company to determine whether such nominee would be an "independent" director;
•
Revised the officer descriptions to provide more accurate and complete descriptions of the duties and
authority of the officers;
•
Revised the mandatory indemnification provided by Sections 5.01 and 5.02 of the Bylaws to be limited
to current and former directors and officers;
•
Revised Section 5.06 of the Bylaws to require the Company to make advances of expenses in the defense
of a proceeding before the final outcome is determined to current or former directors and officers, so
long as the expenses were actually and reasonably incurred, as subject to an undertaking to repay such
expenses if it is finally determined that the director or officer was not entitled to be indemnified for
them;
•
Revised Section 5.11 of the Bylaws to expand the list of items that are excluded from indemnification
to include (a) proceedings brought by the Company or anyone else to enforce employment, non-compete and
other agreements between the indemnified person and the Company or its affiliates and (b) recoveries of
"short-swing profits" under Section 16 of the Securities Exchange Act of 1934; and
•
Added a new Section 5.12 of the Bylaws to prohibit retroactive repeal or modification of the
indemnification or advancement rights provided in the Bylaws.
The foregoing summary does not constitute a complete summary of the Bylaws and is qualified in its entirety by
reference to the complete text of the Bylaws which is attached hereto as Exhibit 3.1 and is incorporated herein by
reference.
Item 9.01
Financial Statements and Exhibits.
(d)
Exhibits
The following exhibits are filed in accordance with the provisions of Item 601 of Regulation S-K:
Exhibit No.
Exhibit Description
3.1
Amended and Restated Bylaws of Pike Electric Corporation, as of April 30, 2009
10.1*
Form of Indemnification Agreement between Pike Electric Corporation and its
Directors
10.2*
First Amendment to Amended and Restated Employment Agreement, dated May 1,
2009, by and between Pike Electric Corporation and J. Eric Pike
* Indicates a management contract or compensatory plan or arrangement.
Signature
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.
PIKE ELECTRIC CORPORATION
Date: May 5, 2009
By:
/s/ James R. Fox
Name: James R. Fox
Title: General Counsel, Chief Risk Officer
and Corporate
Secretary
SECURITIES AND EXCHANGE COMMISSION
Washington, DC
EXHIBITS
CURRENT REPORT
ON
FORM 8-K
Date of Event Reported:
Commission File No:
April 30, 2009
1-32582
PIKE ELECTRIC CORPORATION
EXHIBIT INDEX
Exhibit No.
Exhibit Description
3.1
Amended and Restated Bylaws of Pike Electric Corporation, as of April 30, 2009
10.1*
Form of Indemnification Agreement between Pike Electric Corporation and its
Directors
10.2*
First Amendment to Amended and Restated Employment Agreement, dated May 1,
2009, by and between Pike Electric Corporation and J. Eric Pike
* Indicates a management contract or compensatory plan or arrangement.