<html>
<head><title>
Prepared and filed by St Ives Financial
</title>
</head>
<body bgcolor="#FFFFFF">
<page>
<p align="center"><font size="2" face="serif">UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>Washington, DC 20549</font></p>
<p align="center"><font size="2" face="serif">FORM 8-K</font></p>
<p align="center"><font size="2" face="serif">CURRENT REPORT Pursuant<br>to Section 13 or 15(d) of the<br>Securities Exchange Act of 1934</font></p>
<p align="center"><font size="2" face="serif">Date of report (Date of earliest event reported) September 19, 2006</font></p>
<table width="100%" cellspacing="0" cellpadding="0" align="center" border="0">
<tr align="center" valign="top" bgcolor="#FFFFFF">
<td colspan="2"><font size="2" face="serif">Neoware, Inc.</font></td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
  <td colspan="2"><hr size="1" noshade>
    </td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
<td colspan="2"><font size="2" face="serif">(Exact Name of Registrant as Specified in Its Charter)</font></td>
</tr>
<tr align="center" valign="top">
<td><font size="2" face="serif">&nbsp;</font></td>
<td><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
<td colspan="2"><font size="2" face="serif">Delaware</font></td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
  <td colspan="2"><hr size="1" noshade>
    </td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
<td colspan="2"><font size="2" face="serif">(State or Other Jurisdiction of Incorporation)</font></td>
</tr>
<tr align="center" valign="top">
<td><font size="2" face="serif">&nbsp;</font></td>
<td><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr align="center" valign="top">
<td><font size="2" face="serif">&nbsp;</font></td>
<td><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr align="center" valign="top" bgcolor="#ffffff">
<td><font size="2" face="serif">000-21240</font></td>
<td width="47%"><font size="2" face="serif">23-2705700</font></td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
  <td><hr size="1" noshade>
    </td>
  <td><hr size="1" noshade>
    </td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
<td><font size="2" face="serif">(Commission File Number)</font></td>
<td><font size="2" face="serif">(IRS Employer Identification No.)</font></td>
</tr>
<tr align="center" valign="top">
<td><font size="2" face="serif">&nbsp;</font></td>
<td><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr align="center" valign="top">
<td></td>
<td><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
<td colspan="2"><font size="2" face="serif">3200 Horizon Drive, King of Prussia, Pennsylvania 19406</font></td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
  <td><hr size="1" noshade>
    </td>
  <td><hr size="1" noshade>
    </td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
<td><font size="2" face="serif">(Address of Principal Executive Offices)</font></td>
<td><font size="2" face="serif">(Zip Code)</font></td>
</tr>
<tr align="center" valign="top">
<td><font size="2" face="serif">&nbsp;</font></td>
<td><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
<td colspan="2"><font size="2" face="serif">(610) 277-8300</font></td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
  <td colspan="2"><hr size="1" noshade>
    </td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
<td colspan="2"><font size="2" face="serif">(Registrant&#8217;s Telephone Number, Including Area Code)</font></td>
</tr>
<tr align="center" valign="top">
<td><font size="2" face="serif">&nbsp;</font></td>
<td><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr align="center" valign="top">
<td><font size="2" face="serif">&nbsp;</font></td>
<td><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
  <td colspan="2"><hr size="1" noshade>
    </td>
</tr>
<tr align="center" valign="top" bgcolor="#FFFFFF">
<td colspan="2"><font size="2" face="serif">(Former Name or Former Address, if Changed Since Last Report)</font></td>
</tr>
<tr align="center" valign="top">
<td><font size="2" face="serif">&nbsp;</font></td>
<td><font size="2" face="serif">&nbsp;</font></td>
</tr>
</table>
<div style="text-indent: 3%">
<p align="left"><font size="2" face="serif">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></div>
  <table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td align="left" width="3%"><font size="2" face="serif">&nbsp;</font></td>
<td align="left" width="3%"><img src="emptybox.gif" width="12" height="12"></td>
<td align="left"><font size="2" face="serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td>
</tr>
<tr valign="top">
<td width="3%">&nbsp;</td>
<td width="3%">&nbsp;</td>
<td>&nbsp;</td> </tr>
<tr valign="top">
<td width="3%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="3%" align="left"><font size="2" face="serif"><img src="emptybox.gif" width="12" height="12"></font></td>
<td align="left"><font size="2" face="serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td>
</tr>
<tr valign="top">
<td width="3%">&nbsp;</td>
<td width="3%">&nbsp;</td>
<td>&nbsp;</td> </tr>
<tr valign="top">
<td width="3%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="3%" align="left"><font size="2" face="serif"><img src="emptybox.gif" width="12" height="12"></font></td>
<td align="left"><font size="2" face="serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td>
</tr>
<tr valign="top">
<td width="3%">&nbsp;</td>
<td width="3%">&nbsp;</td>
<td>&nbsp;</td> </tr>
<tr valign="top">
<td width="3%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="3%" align="left"><font size="2" face="serif"><img src="emptybox.gif" width="12" height="12"></font></td>
<td align="left"><font size="2" face="serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td>
</tr>
</table>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<p align="left"><font face="serif" size="2">Page 2</font></p>
<p align="left"><font size="2" face="serif">Item 1.01&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement.</font></p>
<div style="text-indent: 3%">
<p align="left"><font size="2" face="serif">On September 19, 2006, Mr. Roy Zatcoff resigned as Executive Vice President, Marketing and Development, of Neoware, Inc. (the &#8220;Company&#8221;), effective October 31, 2006.  In connection with Mr. Zatcoff&#8217;s resignation, the Company and Mr. Zatcoff entered into a separation agreement providing for the continuation of his base salary for a period of four months, payable over the Company&#8217;s normal payroll periods, and the payment of COBRA premiums to continue his health insurance coverage for the four-month period.  In exchange for the consideration provided by the Company, Mr. Zatcoff executed a general release of claims in favor of the Company.  The Company executed a limited release of claims related
to Mr. Zatcoff&#8217;s performance of his employment duties in favor of Mr. Zatcoff.</font></p>
<p align="left"><font size="2" face="serif">In connection with Mr. Zatcoff&#8217;s resignation, the responsibilities of his position will be assumed by Mr. Matthew Wrabley, currently  Executive Vice President of Business Development, and Mr. Edward Parks, currently Vice President of  Engineering.  Mr. Wrabley, who has been appointed  Executive Vice President of Marketing and Business Development, will be responsible for  directing the Company&#8217;s global marketing communications program and  product management functions.  In addition, Mr. Wrabley will  continue to be responsible for business development activities and strategic technology partner relationships.  Mr. Parks, who has been appointed Vice President of Worldwide Engineering, will be responsible
for directing the Company&#8217;s engineering teams on a global basis and for delivering the Company&#8217;s product technology solutions.</font></p>
</div>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<p align="left"><font face="serif" size="2">Page 3</font></p>
<p align="left"><font size="2" face="serif">SIGNATURES</font></p>
<div style="text-indent: 3%">
<p align="left"><font size="2" face="serif">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></div>
  <table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td align="left" width="50%"><font size="2" face="serif">Dated:  September 25, 2006</font></td>
<td align="left"><font size="2" face="serif">Neoware, Inc. </font></td>
</tr>
<tr valign="top">
<td></td>
<td><hr noshade size="1"></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">(Registrant)</font></td>
</tr>
<tr valign="top">
<td>&nbsp;</td>
<td>&nbsp;</td> </tr>
<tr valign="top">
<td>&nbsp;</td>
<td>&nbsp;</td> </tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">/s/ Keith D. Schneck</font></td>
</tr>
<tr valign="top">
<td></td>
<td><hr noshade size="1"></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Keith D. Schneck</font></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Executive Vice President and Chief Financial Officer</font></td>
</tr>
</table>
<hr noshade align="center" width="100%" size="2">
</body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "b415016_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 10363}]
{"company-data": {"conformed-name": "NEOWARE INC", "cik": "0000894743", "assigned-sic": "3571", "irs-number": "232705700", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-21240", "film-number": "061106241"}, "business-address": {"street1": "3200 HORIZON DR", "city": "KING OF PRUSSIA", "state": "PA", "zip": "19406", "phone": "6102778300"}, "mail-address": {"street1": "3200 HORIZON DR", "city": "KING OF PRUSSIA", "state": "PA", "zip": "19406"}, "former-company": [{"former-conformed-name": "NEOWARE SYSTEMS INC", "date-changed": "19980928"}, {"former-conformed-name": "HDS NETWORK SYSTEMS INC", "date-changed": "19950313"}, {"former-conformed-name": "INFORMATION SYSTEMS ACQUISITION CORP", "date-changed": "19930108"}]}
Prepared and filed by St Ives Financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) September 19, 2006
Neoware, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
000-21240
23-2705700
(Commission File Number)
(IRS Employer Identification No.)
3200 Horizon Drive, King of Prussia, Pennsylvania 19406
(Address of Principal Executive Offices)
(Zip Code)
(610) 277-8300
(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):
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))
Page 2
Item 1.01    Entry into a Material Definitive Agreement.
On September 19, 2006, Mr. Roy Zatcoff resigned as Executive Vice President, Marketing and Development, of Neoware, Inc. (the "Company"), effective October 31, 2006.  In connection with Mr. Zatcoff's resignation, the Company and Mr. Zatcoff entered into a separation agreement providing for the continuation of his base salary for a period of four months, payable over the Company's normal payroll periods, and the payment of COBRA premiums to continue his health insurance coverage for the four-month period.  In exchange for the consideration provided by the Company, Mr. Zatcoff executed a general release of claims in favor of the Company.  The Company executed a limited release of claims related
to Mr. Zatcoff's performance of his employment duties in favor of Mr. Zatcoff.
In connection with Mr. Zatcoff's resignation, the responsibilities of his position will be assumed by Mr. Matthew Wrabley, currently  Executive Vice President of Business Development, and Mr. Edward Parks, currently Vice President of  Engineering.  Mr. Wrabley, who has been appointed  Executive Vice President of Marketing and Business Development, will be responsible for  directing the Company's global marketing communications program and  product management functions.  In addition, Mr. Wrabley will  continue to be responsible for business development activities and strategic technology partner relationships.  Mr. Parks, who has been appointed Vice President of Worldwide Engineering, will be responsible
for directing the Company's engineering teams on a global basis and for delivering the Company's product technology solutions.
Page 3
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.
Dated:  September 25, 2006
Neoware, Inc.
(Registrant)
/s/ Keith D. Schneck
Keith D. Schneck
Executive Vice President and Chief Financial Officer