<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 3.2 Final//EN">
<HTML>
<HEAD>
     <!-- Created by EDGAR Ease Plus (EDGAR Ease+ 1.4a) -->
     <!-- Project:        S:\Accounting\Accounting\Teresa\Edgar\8K\form8k_111004.eep       -->
     <!-- Control Number: 01                                                               -->
     <!-- Rev Number:                                                                      -->
     <!-- Client Name:                                                                     -->
     <!-- Project Name:   Form 8K Option Grant B                                           -->
     <!-- Firm Name:      Cotelligent, Inc.                                                -->
     <TITLE>Form 8-K</TITLE>
</HEAD>
<BODY>



<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED STATES<BR>SECURITIES AND EXCHANGE
COMMISSION </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WASHINGTON, D.C. 20549 </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM 8-K </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CURRENT REPORT </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant to Section 13
or 15(d) of the<BR>Securities Exchange Act of 1934 </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of Report (Date of earliest
event reported): November 4, 2004 </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Cotelligent, Inc. </FONT></P>

<!-- MARKER FORMAT-SHEET="Page Rule Single" FSL="Default" -->
     <HR ALIGN="CENTER" SIZE="1" NOSHADE>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Exact name of registrant as specified in its charter) </FONT></P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 ALIGN=Center WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Delaware</FONT></TD>
     <TD WIDTH=32% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0-27412</FONT></TD>
     <TD WIDTH=32% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>94-3173918</FONT></TD></TR>
</TABLE>
<HR SIZE="1" WIDTH="100%">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 ALIGN=Center WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=35% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(State or other jurisdiction of<BR>incorporation</FONT></TD>
     <TD WIDTH=32% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Commission<BR>File Number)</FONT></TD>
     <TD WIDTH="32%" ALIGN="Center" VALIGN="Top"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(I.R.S. Employer Identification<BR> No.)</FONT></TD></TR>
</TABLE><BR><BR>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 ALIGN=Center WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>655 Montgomery Street, Suite 1000<BR>San Francisco, California</FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>94111</FONT></TD></TR>
</TABLE>
<HR SIZE="1" WIDTH="100%">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 ALIGN=Center WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Address of principal executive offices)</FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Zip Code)</FONT></TD></TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(415) 477-9900 </FONT></P>

<!-- MARKER FORMAT-SHEET="Page Rule Single" FSL="Default" -->
     <HR ALIGN="center" WIDTH="100%" SIZE="1">

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Registrant&#146;s telephone number, including area code) </FONT></P>

<!-- MARKER FORMAT-SHEET="Page Rule Single" FSL="Default" -->
     <HR ALIGN=center WIDTH=100% SIZE=1 NOSHADE>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Former Name or Former
Address, if Changed Since Last Report) </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 (see General
Instruction A.2. below): </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="WingDings" SIZE="2">&#111; </FONT> <FONT FACE="Times New Roman, Times, Serif" SIZE="2">Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)<BR> </FONT> <FONT FACE="WingDings" SIZE="2">&#111; </FONT> <FONT FACE="Times New Roman, Times, Serif" SIZE="2">Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR> </FONT> <FONT FACE="WingDings" SIZE="2">&#111; </FONT> <FONT FACE="Times New Roman, Times, Serif" SIZE="2">Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR></FONT> <FONT FACE="WingDings" SIZE="2">&#111; </FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) </FONT> </P>






<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 1; page: 1" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>




<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 ALIGN=Center WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=24% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 1.01.</B> </FONT></TD>
     <TD WIDTH=36% ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U><B>Entry into a Material Definitive Agreement</B></U>. </FONT> </TD></TR>
</TABLE>



<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
order to scale Cotelligent Inc.&#145;s (the &#147;Company&#148;) selling, general and
administrative expenses to a level appropriate to the Company&#146;s current and future
business strategy, the officers of the Company, James R. Lavelle, the Company&#146;s
Chairman and Chief Executive Officer, and Curtis J. Parker, the Company&#146;s Executive
Vice President and Chief Financial Officer, each volunteered to take salary reductions of
$60,000 per year. In addition, certain of the Company&#146;s Vice Presidents also
volunteered to take salary reductions. The total annual savings for the Company from all
voluntary salary reductions is approximately $175,000. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
board of directors of the Company (the &#147;Board&#148;) agreed to grant to each of these
senior executives stock options to purchase shares of the Company&#146;s common stock.
Each such senior executive will receive an option to purchase that number of shares which,
based on the market price of the common stock as of the grant date, has a value equal to
the amount of such executive&#146;s annualized salary reduction. The option grants became
effective on November 4, 2004 and have an exercise price equal to the closing price of the
common stock reported by the OTC Bulletin Board on the effective date of the grant. Half
of the options granted to these executives will be immediately exercisable and the balance
of the options will vest on the first anniversary of the effective date of the grant if
the executive is then employed by the Company. </FONT></P>






<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 2; page: 2" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>





<!-- MARKER FORMAT-SHEET="Head Center Underline-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Signature </U></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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>



<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Project" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=60%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>COTELLIGENT, INC.<BR><BR>
<BR>BY:&nbsp;&nbsp;&nbsp; /s/ Curtis J. Parker<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Curtis J. Parker<BR>Executive Vice President, Chief Financial Officer,<BR>Treasurer &amp; Assistant Secretary</FONT></TD>
</TR>
</TABLE>
<BR>



<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Default" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dated: November 10, 2004 </FONT></P>


<PAGE>



</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "form8k_111004.htm", "secsgml_size_bytes": 10093}]
{"company-data": {"conformed-name": "COTELLIGENT INC", "cik": "0001004963", "assigned-sic": "7373", "irs-number": "943173918", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-27412", "film-number": "041133326"}, "business-address": {"street1": "100 THEORY SUITE 200", "city": "IRVINE", "state": "CA", "zip": "92336", "phone": "949-823-1600"}, "mail-address": {"street1": "100 THEORY SUITE 200", "city": "IRVINE", "state": "CA", "zip": "92336"}, "former-company": {"former-conformed-name": "COTELLIGENT GROUP INC", "date-changed": "19951214"}}
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): November 4, 2004
Cotelligent, Inc.
(Exact name of registrant as specified in its charter)
Delaware
0-27412
94-3173918
(State or other jurisdiction of
incorporation
(Commission
File Number)
(I.R.S. Employer Identification
No.)
655 Montgomery Street, Suite 1000
San Francisco, California
94111
(Address of principal executive offices)
(Zip Code)
(415) 477-9900
(Registrant's telephone number, including area code)
(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 (see General
Instruction A.2. below):
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
.
In
order to scale Cotelligent Inc.'s (the "Company") selling, general and
administrative expenses to a level appropriate to the Company's current and future
business strategy, the officers of the Company, James R. Lavelle, the Company's
Chairman and Chief Executive Officer, and Curtis J. Parker, the Company's Executive
Vice President and Chief Financial Officer, each volunteered to take salary reductions of
$60,000 per year. In addition, certain of the Company's Vice Presidents also
volunteered to take salary reductions. The total annual savings for the Company from all
voluntary salary reductions is approximately $175,000.
The
board of directors of the Company (the "Board") agreed to grant to each of these
senior executives stock options to purchase shares of the Company's common stock.
Each such senior executive will receive an option to purchase that number of shares which,
based on the market price of the common stock as of the grant date, has a value equal to
the amount of such executive's annualized salary reduction. The option grants became
effective on November 4, 2004 and have an exercise price equal to the closing price of the
common stock reported by the OTC Bulletin Board on the effective date of the grant. Half
of the options granted to these executives will be immediately exercisable and the balance
of the options will vest on the first anniversary of the effective date of the grant if
the executive is then employed by the Company.
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.
COTELLIGENT, INC.
BY:    /s/ Curtis J. Parker
——————————————
Curtis J. Parker
Executive Vice President, Chief Financial Officer,
Treasurer & Assistant Secretary
Dated: November 10, 2004