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<title>Pro-Dex, Inc. Form 8-K</title>


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<p><b>&nbsp;</b></p>

<p><b>&nbsp;</b></p>









<p align="center"><b>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C.&nbsp; 20549</b></p>





<p align=center style='text-align:center'><b>FORM 8-K</b></p>

<p align="center"><b>CURRENT REPORT<br>
Pursuant to Section 13 or 15(d) of the<br>
Securities Exchange Act of 1934</b></p>





<p align=center style='text-align:center'>Date of Report <br>
(Date of earliest event reported)<b> <br>
October 18, 2006</b></p>





<p align=center style='text-align:center'><b><font size="4">PRO-DEX, INC.<br>
</font></b><font size="2">(Exact name of registrant as specified in its charter)</font></p>
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			<td align="center" nowrap width="213"><b>COLORADO</b></td>
			<td align="center" nowrap>





<p align=center style='text-align:center'><b>0-14942</b></p></td>
			<td align="center" nowrap><b>84-1261240</b></td>
		</tr>
		<tr>
			<td align="center" nowrap width="213">&nbsp;(State or other</td>
			<td align="center" nowrap>

<p align="center">(Commission File Number)</p></td>
			<td align="center" nowrap>(IRS
Employer </td>
		</tr>
		<tr>
			<td align="center" nowrap width="213">jurisdiction of</td>
			<td align="center" nowrap>&nbsp;</td>
			<td align="center" nowrap>Identification Number)</td>
		</tr>
		<tr>
			<td align="center" nowrap width="213">incorporation)</td>
			<td align="center" nowrap>

<p style='text-indent:36.0pt'>&nbsp;</p>

			</td>
			<td align="center" nowrap>&nbsp;</td>
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<p align=center style='text-align:center'><b>151 East Columbine Avenue<br>
Santa Ana, California </b><b>92707<br>
</b>(Address of Principal Executive Offices)</p>

<p align=center style='text-align:center'><b>(714) 241-4411<br>
</b>(Registrant's Telephone Number, Including Area Code)</p>





<p style='text-autospace:none'>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 ( <i>see </i>General
Instruction A.2. below): </p>



<p style='text-autospace:none; margin-top:0; margin-bottom:0.001pt'>[&nbsp;&nbsp; ] &nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </p>

<p style='text-autospace:none; margin-top:0; margin-bottom:0.001pt'>[&nbsp;&nbsp; ] &nbsp;Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </p>

<p style='margin-left:20.0pt;text-indent:-20.0pt;text-autospace:
none; margin-top:0; margin-bottom:0.001pt'>[&nbsp;&nbsp; ] &nbsp;Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b)) </p>

<p style='text-autospace:none; margin-top:0; margin-bottom:0.001pt'>[&nbsp;&nbsp; ] &nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) </p>



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<p><b>Item 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entry
into a Material Definitive Agreement</b></p>

<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
October 18, 2006, Pro-Dex, Inc. (the &quot;Company&quot;) entered into a letter agreement
(the &quot;Agreement&quot;) with Patrick Johnson, which clarifies the terms of Mr.
Johnson's employment as the Company's Executive Vice President Business
Development, to serve as Chief Business Development Officer.&nbsp; Mr. Johnson has
held the position of Executive Vice President Business Development since April
12, 2006.</p>



<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Under
the terms of the Agreement, Mr. Johnson is to receive an annual salary of
$180,000.&nbsp;&nbsp; Mr. Johnson's employment as Executive Vice President Business
Development is on an &quot;at will&quot; basis.&nbsp; However, if Mr. Johnson's employment is
terminated by the Company without &quot;cause&quot; as that term is defined in the
Agreement, the Company shall pay Mr. Johnson a severance payment equal to four
months of his annual salary.&nbsp; As additional consideration, the Agreement also
contains a mutual release by the Company and Mr. Johnson from any and all
claims up to October 18, 2006.</p>

<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Agreement is attached as Exhibit 10.1 to this Current Report on Form 8-K.&nbsp; The above descriptions are qualified by reference to the complete text of the Agreement.
</p>

<p style='text-align:justify'><b>Item
5.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal
Officers</b></p>

<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
October 18, 2006, Patrick Johnson, a Class II director, announced his
resignation from the Company's Board of Directors effective as of October 18,
2006 and the Board of Directors accepted Mr.&nbsp;Johnson's resignation as of
the that date.</p>



<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
October 18, 2006, after Mr. Johnson's resignation, the Board of Directors voted
to reduce the size of the Board from five to four. As a result, there are
currently no vacancies on the Board.</p>



<p style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mr.
Johnson continues to serve as the Company's Executive Vice President Business
Development&nbsp; as described in Item 1.01 above.</p>

<p
style='text-align:justify'><b>Item 9.01&nbsp; Financial Statements and Exhibits</b></p>
<p
style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; October 18, 2006 Letter Agreement regarding Employment between Pro-Dex, Inc. and Patrick Johnson</p>
<p
style='text-align:justify'>&nbsp;</p>
<p
style='text-align:justify'>&nbsp;</p>
<p
style='text-align:center'>-2-</p>



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<p align=center style='text-align:center'><b>SIGNATURES</b></p>





<p>&nbsp;&nbsp;&nbsp;&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.</p>





<p>Date: October 24, 2006&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; <b>PRO-DEX, INC.</b></p>





<p style='margin-left:234.0pt'>By:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/&nbsp; Jeff Ritchey&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;
<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jeff Ritchey<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Financial Officer</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>
<p style='margin-left:234.0pt'>&nbsp;</p>



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Pro-Dex, 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)
October 18, 2006
PRO-DEX, INC.
(Exact name of registrant as specified in its charter)
COLORADO
0-14942
84-1261240
(State or other
(Commission File Number)
(IRS
Employer
jurisdiction of
Identification Number)
incorporation)
151 East Columbine Avenue
Santa Ana, California
92707
(Address of Principal Executive Offices)
(714) 241-4411
(Registrant's Telephone Number, Including Area Code)
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):
[   ]  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))
Item 1.01        Entry
into a Material Definitive Agreement
On
October 18, 2006, Pro-Dex, Inc. (the "Company") entered into a letter agreement
(the "Agreement") with Patrick Johnson, which clarifies the terms of Mr.
Johnson's employment as the Company's Executive Vice President Business
Development, to serve as Chief Business Development Officer.  Mr. Johnson has
held the position of Executive Vice President Business Development since April
12, 2006.
Under
the terms of the Agreement, Mr. Johnson is to receive an annual salary of
$180,000.   Mr. Johnson's employment as Executive Vice President Business
Development is on an "at will" basis.  However, if Mr. Johnson's employment is
terminated by the Company without "cause" as that term is defined in the
Agreement, the Company shall pay Mr. Johnson a severance payment equal to four
months of his annual salary.  As additional consideration, the Agreement also
contains a mutual release by the Company and Mr. Johnson from any and all
claims up to October 18, 2006.
The Agreement is attached as Exhibit 10.1 to this Current Report on Form 8-K.  The above descriptions are qualified by reference to the complete text of the Agreement.
Item
5.02        Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal
Officers
On
October 18, 2006, Patrick Johnson, a Class II director, announced his
resignation from the Company's Board of Directors effective as of October 18,
2006 and the Board of Directors accepted Mr. Johnson's resignation as of
the that date.
On
October 18, 2006, after Mr. Johnson's resignation, the Board of Directors voted
to reduce the size of the Board from five to four. As a result, there are
currently no vacancies on the Board.
Mr.
Johnson continues to serve as the Company's Executive Vice President Business
Development  as described in Item 1.01 above.
Item 9.01  Financial Statements and Exhibits
Exhibit 10.1            October 18, 2006 Letter Agreement regarding Employment between Pro-Dex, Inc. and Patrick Johnson
-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.
Date: October 24, 2006
PRO-DEX, INC.
By:
/s/  Jeff Ritchey
Jeff Ritchey
Chief Financial Officer