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<p>&nbsp;</p></div></div><BR>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=4>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=4>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Washington, D.C. 20549</font></b></p>


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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><B><font SIZE=4>FORM 8-K</font></B></p>


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<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><b><font size=2>Current report</font></b></p>

<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><b><font size=2>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></p>

<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><b><font size=2>Date of Report (Date of earliest event reported): March 20, 2006</font></b></p>

<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><B><font SIZE=2>PERFORMANCE TECHNOLOGIES, INCORPORATED</font></B></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>Commission file number 0-27460</font></b></p>

<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><b><font size=2>Incorporated pursuant to the Laws of the State of Delaware</font></b></p>

<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><b><font size=2>Internal Revenue Service &#150; Employer Identification No. 16-1158413</font></b></p>

<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><b><font size=2>205 Indigo Creek Drive, Rochester, New York 14626</font></b></p>

<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><b><font size=2>(585)256-0200</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><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 style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2><font face=Wingdings>o</font>  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2><font face=Wingdings>o</font>  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2><font face=Wingdings>o</font>  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2><font face=Wingdings>o</font>  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>


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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 1.01 Entry into a Material Definitive Agreement</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>On March 16, 2006, the Board of Directors of Performance Technologies, Incorporated (the &#147;Company&#148;) approved salary increases for certain named executive officers of the Company, effective April 1, 2006, as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="427" style='margin-left:90.4pt;border-color:gray;border-collapse:collapse'>
    <tr style='height:25.5pt'>
        <td width="200" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:25.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Named Executive Officer</font></p> </td>
        <td width="133" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:25.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Annual Salary</font></p> </td>
        <td width="93" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:25.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Percentage Increase</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="200" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Dorrance W. Lamb</font></p> </td>
        <td width="133" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>$      215,000 </font></p> </td>
        <td width="93" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>8.8%</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="200" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>William E. Mahuson</font></p> </td>
        <td width="133" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>$      160,000 </font></p> </td>
        <td width="93" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>13.3%</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="200" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>John J. Grana</font></p> </td>
        <td width="133" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>$      190,000 </font></p> </td>
        <td width="93" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>16.6%</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="200" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>John J. Peters</font></p> </td>
        <td width="133" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>$      190,000 </font></p> </td>
        <td width="93" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>16.6%</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>The salary increases were approved to reflect increases in market salaries for similar positions at public companies of similar size, based upon a study completed by an executive compensation firm retained by the Company. </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>On March 17, 2006, these named executive officers were granted non-qualified stock options to purchase the following number of shares under the 2003 Omnibus Incentive Plan:</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="333" style='margin-left:90.4pt;border-collapse:collapse'>
    <tr style='height:25.5pt'>
        <td width="241" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:25.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Named Executive Officer</font></p> </td>
        <td width="92" valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:25.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Number of Shares</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="241" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Dorrance W. Lamb</font></p> </td>
        <td width="92" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>20,000</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="241" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>William E. Mahuson</font></p> </td>
        <td width="92" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>10,000 </font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="241" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>John J. Grana</font></p> </td>
        <td width="92" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>30,000 </font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="241" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>John J. Peters</font></p> </td>
        <td width="92" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>30,000 </font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>These options were granted at an exercise price of $6.64.  These options vest over five years and expire in eight years.  The vesting of these options will accelerate upon the Company achieving certain milestones, as defined in the option agreements.  The form of the stock option agreement will be filed with the Company&#146;s next quarterly report on Form 10-Q. </font></p>


<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><B><font SIZE=2>SIGNATURES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>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>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="372" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="216" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="372" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><B><font SIZE=2>PERFORMANCE TECHNOLOGIES, INCORPORATED</font></B></p> </td> </tr>
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        <td width="216" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="372" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="216" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=2>March 21, 2006</font></p> </td>
        <td width="12" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=2>By</font></p> </td>
        <td width="372" valign=top style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>/s/ Michael P. Skarzynski</font></p> </td> </tr>
    <tr >
        <td width="216" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="372" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Michael P. Skarzynski</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>President and Chief Executive Officer</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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    <tr >
        <td width="216" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=2>March 21, 2006</font></p> </td>
        <td width="12" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=2>By</font></p> </td>
        <td width="372" valign=bottom style='border-bottom: solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>/s/ Dorrance W. Lamb</font></p> </td> </tr>
    <tr >
        <td width="216" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="12" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="372" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Dorrance W. Lamb</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Chief Financial Officer and Senior Vice President of Finance</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



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{"company-data": {"conformed-name": "PERFORMANCE TECHNOLOGIES INC \\DE\\", "cik": "0001003950", "assigned-sic": "3672", "irs-number": "161158413", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-27460", "film-number": "06701265"}, "business-address": {"street1": "205 INDIGO CREEK DRIVE", "city": "ROCHESTER", "state": "NY", "zip": "14626", "phone": "5852560200"}, "mail-address": {"street1": "205 INDIGO CREEK DRIVE", "street2": "205 INDIGO CREEK DRIVE", "city": "ROCHESTER", "state": "NY", "zip": "14626"}}
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 20, 2006
PERFORMANCE TECHNOLOGIES, INCORPORATED
Commission file number 0-27460
Incorporated pursuant to the Laws of the State of Delaware
Internal Revenue Service – Employer Identification No. 16-1158413
205 Indigo Creek Drive, Rochester, New York 14626
(585)256-0200
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
On March 16, 2006, the Board of Directors of Performance Technologies, Incorporated (the "Company") approved salary increases for certain named executive officers of the Company, effective April 1, 2006, as follows:
Named Executive Officer
Annual Salary
Percentage Increase
Dorrance W. Lamb
$      215,000
8.8%
William E. Mahuson
$      160,000
13.3%
John J. Grana
$      190,000
16.6%
John J. Peters
$      190,000
16.6%
The salary increases were approved to reflect increases in market salaries for similar positions at public companies of similar size, based upon a study completed by an executive compensation firm retained by the Company.
On March 17, 2006, these named executive officers were granted non-qualified stock options to purchase the following number of shares under the 2003 Omnibus Incentive Plan:
Named Executive Officer
Number of Shares
Dorrance W. Lamb
20,000
William E. Mahuson
10,000
John J. Grana
30,000
John J. Peters
30,000
These options were granted at an exercise price of $6.64.  These options vest over five years and expire in eight years.  The vesting of these options will accelerate upon the Company achieving certain milestones, as defined in the option agreements.  The form of the stock option agreement will be filed with the Company's next quarterly report on Form 10-Q.
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.
PERFORMANCE TECHNOLOGIES, INCORPORATED
March 21, 2006
By
/s/ Michael P. Skarzynski
Michael P. Skarzynski
President and Chief Executive Officer
March 21, 2006
By
/s/ Dorrance W. Lamb
Dorrance W. Lamb
Chief Financial Officer and Senior Vice President of Finance