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      STATES</font></div>
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      AND EXCHANGE COMMISSION</font></div>
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      DC 20549</font></div>
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      8-K</font></div>
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      REPORT</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to Section 13 or 15(d) of the</font></div>
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      Exchange Act of 1934</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
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      8, 2006</u></font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">GVI
                SECURITY SOLUTIONS,
                INC.</font></div>
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            <td width="10%" style="border-bottom: #ffffff solid;">&#160;</td>
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          <tr bgcolor="white">
            <td width="10%">&#160;</td>
            <td width="10%">&#160;</td>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;
<font size="2">(Exact
                name of registrant as specified in
                its charter)</font></div>
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            <td width="10%">&#160;</td>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">Delaware</font></div>
            </td>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                000-21295</font></font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">77-0436410</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></div>
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                jurisdiction</font></div>
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                (I.R.S. Employer </font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">of
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">Identification
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">2801
                Trade Center Drive, Suite 120,
                Carrollton, Texas&#160;</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
                Code)</font></div>
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            <td width="10%">&#160;</td>
            <td width="10%">&#160;</td>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">Registrant&#8217;s
                telephone number, including
                area code: <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>(972)
                245-7353</u></font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></div>
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      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></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)</font></div>
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    <div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)</font></div>
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    <div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act
                </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(17
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act
                </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(17
                CFR 240.13c-4(c))</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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        </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        1.01. Entry into a Material Definitive Agreement.</strong></font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      February 8, 2006, we entered into an Employment Agreement with Steven E. Walin,
      pursuant to which he will be employed as our Chief Executive Officer commencing
      March 6, 2006 for a term of three years. Pursuant to the Employment Agreement,
      Mr. Walin is entitled to receive:</font></div>
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        <tr valign="top" style="line-height: 1.25;">
          <td align="right" style="width: 72pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
          <td>
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">An
              annual base salary of $375,000.</font></div>
          </td>
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        <tr valign="top" style="line-height: 1.25;">
          <td align="right" style="width: 72pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
          <td>
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
              signing bonus of $100,000, half of which will be payable on the date
              he
              commences his employment with us, and half of which will be payable
              on
              July 1, 2006.</font></div>
          </td>
        </tr>

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    <table cellpadding="0" cellspacing="0" id="list" width="100%">

        <tr valign="top" style="line-height: 1.25;">
          <td align="right" style="width: 72pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
          <td>
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">An
              annual bonus of up to 50% of his base salary based on the achievement
              of
              annual performance targets approved of by our board of directors, provided
              that the 50% bonus will be guaranteed with respect to the first nine-month
              period of Mr. Walin&#8217;s employment with us.</font></div>
          </td>
        </tr>

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    <table cellpadding="0" cellspacing="0" id="list" width="100%">

        <tr valign="top" style="line-height: 1.25;">
          <td align="right" style="width: 72pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
          <td>
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
              10-year option to purchase 3 million shares of our common stock.&#160;
              </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
              exercise price per share with respect to the first 1,000,000 shares
              under
              this option (&#8220;Tranche One&#8221;) will equal the closing price of our common
              stock on the day before the commencement of Mr. Walin&#8217;s employment with
              us. The exercise price per share with respect to another 1,000,000
              shares
              under this option (&#8220;Tranche Two&#8221;) will equal the greater of (i) the
              exercise price of the Tranche One option shares, and (ii) $</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.52.
              The exercise price for the final 1,000,000 shares under this option
              (&#8220;Tranche Three&#8221;) will equal the greater of (i) the exercise price of the
              Tranche One option shares, and (ii) $.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">80.
              All of the Tranche One option shares, and 50% of each of the Tranche
              Two
              and Tranche Three option shares will be immediately exercisable, and
              an
              additional 25% of the Tranche Two and Three option shares will become
              exercisable on each of the first and second anniversaries of the
              commencement of Mr. Walin&#8217;s employment with us, provided he is then
              employed by us.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <table cellpadding="0" cellspacing="0" id="list" width="100%">

        <tr valign="top" style="line-height: 1.25;">
          <td align="right" style="width: 72pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
          <td>
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
              second 10-year option to </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">purchase
              5% of the number of shares of common stock sold by us in the next offering
              of our securities completed within two years of the commencement of
              Mr.
              Walin&#8217;s employment with us. The exercise price for this option will equal
              the greater of the closing price of our common stock on the day before
              (i)
              the commencement of his employment with us, and (ii) the date this
              option
              is granted. Fifty percent of the shares under this option will be
              immediately exercisable and an additional 25% of such shares will become
              exercisable on each of the first and second anniversaries of the grant
              of
              the option, provided Mr. Walin is then employed by us.
              </font></div>
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      addition, pursuant to the Employment Agreement, in the event that Mr. Walin&#8217;s
      employment is terminated by us without &#8220;Cause&#8221; or by Mr. Walin for &#8220;Good Reason&#8221;
(as such terms are defined in the Employment Agreement), Mr. Walin will be
      entitled to:</font></div>
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            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">payment
              of all accrued but unpaid base salary, his signing bonus (to the extent
              then unpaid), and unpaid annual bonus with respect to any completed
              fiscal
              year;</font></div>
          </td>
        </tr>

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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">payment
              of his base salary and continued medical benefits for 12 months; provided,
              that if such termination occurs after a &#8220;Change in Control&#8221; Mr. Walin will
              instead be entitled to a payment equal to 200% of his base salary and
              continued medical benefits for 24 months;</font></div>
          </td>
        </tr>

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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        <tr valign="top" style="line-height: 1.25;">
          <td align="right" style="width: 90pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
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            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pro-rated
              bonus for the year in which the termination occurs, payable following
              such
              fiscal year to the extent he would have otherwise been entitled to
              such
              bonus; and</font></div>
          </td>
        </tr>

    </table>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <table cellpadding="0" cellspacing="0" id="list" width="100%">

        <tr valign="top" style="line-height: 1.25;">
          <td align="right" style="width: 90pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
          <td>
            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">provided
              at least six months has expired since the last vesting of an option
              grant,
              a pro rata vesting of his option shares which are scheduled to vest
              on the
              next vesting date; provided, that if such termination occurs after
              a
              &#8220;Change in Control&#8221; or after the first anniversary of Mr. Walin&#8217;s
              employment with us, all of the unvested options will immediately
              vest.</font></div>
          </td>
        </tr>

    </table>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      Mr.
      Walin&#8217;s employment is terminated as a result of his death or disability, we will
      pay him his accrued but unpaid base salary, unpaid signing bonus, and unpaid
      annual bonus with respect to any completed fiscal year, and a pro-rated portion
      of any bonus he would have otherwise been entitled for the fiscal year in which
      the termination occurs.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      Walin
      is prohibited under the Employment Agreement from using or disclosing any of
      our
      proprietary information, competing with us, hiring any of our employees or
      consultants and soliciting any of our customers or suppliers to reduce or cease
      business with us. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      copy of
      Mr. Walin&#8217;s Employment Agreement with us has been filed as Exhibit 10.1 to this
      Current Report on Form 8-K and is incorporated herein by reference.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        5.02. <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Departure
        of Directors or Principal Officers; Election of Directors; Appointment of
        Principal Officers. </strong></font></strong></font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
      March 6, 2006, Steven E. Walin , age 50, has been appointed as our Chief
      Executive Officer, to serve in such capacity pursuant to the terms of the
      Employment Agreement described in Item 1.01 above, which is incorporated herein
      by reference. Mr. Walin will replace Nazzareno E. Paciotti, who continues to
      serve us as our Chief Financial Officer.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      Walin
      has over 20 years of experience in the security industry. Most recently, from
      April 2003 until his appointment as our Chief Executive Officer, Mr. Walin
      served as the President of GE Security Enterprise Solutions, a division of
      General Electric Company that provides security solutions, including video
      monitoring, intrusion and access control systems. Prior to his employment with
      GE, from July 2001, Mr. Walin served as the Senior Vice President - North
      America Security for the Security Systems Division of Siemens Building
      Technologies. Prior to that, Mr. Walin had been the President and Chief
      Operating Officer of Securities Technology Group, Inc. until it was acquired
      by
      Siemens in July 2001.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01. Financial Statements and Exhibits.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Exhibits</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
              10.1</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement, dated as of January 31, 2006, between GVI Security Solutions,
                Inc. and </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Steven
                E. Walin</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>SIGNATURES</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:
              February 21,
              2006</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">GVI
              SECURITY
              SOLUTIONS, INC.</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td>&#160;</td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/
              Howard Safir&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="FONT-FAMILY: " size="1">&#160;</font></td>
            <td align="left">
              <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">Name:
              Howard Safir</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Title:&#160;&#160;
              Chairman of the Board&#160;</font></td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 270pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
      INDEX</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt"></font>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

            <tr valign="top" style="line-height: 1.25;">
              <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No.</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Description</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement, dated as of January 31, 2006, between GVI Security Solutions,
                Inc. and </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Steven
                E. Walin</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
            </td>
          </tr>

      </table>
    </div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
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{"company-data": {"conformed-name": "GVI SECURITY SOLUTIONS INC", "cik": "0001021444", "assigned-sic": "3669", "irs-number": "770436410", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-21295", "film-number": "06632866"}, "business-address": {"street1": "1621 WEST CROSBY", "street2": "SUITE 104", "city": "CARROLLTON", "state": "TX", "zip": "75006", "phone": "9722457353"}, "mail-address": {"street1": "1621 WEST CROSBY", "street2": "SUITE 104", "city": "CARROLLTON", "state": "TX", "zip": "75006"}, "former-company": {"former-conformed-name": "THINKING TOOLS INC", "date-changed": "19960823"}}
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):
February
      8, 2006
GVI
                SECURITY SOLUTIONS,
                INC.
(Exact
                name of registrant as specified in
                its charter)
Delaware
000-21295
77-0436410
(State
                or other
                jurisdiction
(Commission
(I.R.S. Employer
of
                incorporation)
File
                Number)
Identification
                Number)
2801
                Trade Center Drive, Suite 120,
                Carrollton, Texas
75007
(Address
                of principal executive office)
(Zip
                Code)
Registrant's
                telephone number, including
                area code:
(972)
                245-7353
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 240.13c-4(c))
Item
        1.01. Entry into a Material Definitive Agreement.
On
      February 8, 2006, we entered into an Employment Agreement with Steven E. Walin,
      pursuant to which he will be employed as our Chief Executive Officer commencing
      March 6, 2006 for a term of three years. Pursuant to the Employment Agreement,
      Mr. Walin is entitled to receive:
·
An
              annual base salary of $375,000.
·
A
              signing bonus of $100,000, half of which will be payable on the date
              he
              commences his employment with us, and half of which will be payable
              on
              July 1, 2006.
·
An
              annual bonus of up to 50% of his base salary based on the achievement
              of
              annual performance targets approved of by our board of directors, provided
              that the 50% bonus will be guaranteed with respect to the first nine-month
              period of Mr. Walin's employment with us.
·
A
              10-year option to purchase 3 million shares of our common stock.
The
              exercise price per share with respect to the first 1,000,000 shares
              under
              this option ("Tranche One") will equal the closing price of our common
              stock on the day before the commencement of Mr. Walin's employment with
              us. The exercise price per share with respect to another 1,000,000
              shares
              under this option ("Tranche Two") will equal the greater of (i) the
              exercise price of the Tranche One option shares, and (ii) $
.52.
              The exercise price for the final 1,000,000 shares under this option
              ("Tranche Three") will equal the greater of (i) the exercise price of the
              Tranche One option shares, and (ii) $.
80.
              All of the Tranche One option shares, and 50% of each of the Tranche
              Two
              and Tranche Three option shares will be immediately exercisable, and
              an
              additional 25% of the Tranche Two and Three option shares will become
              exercisable on each of the first and second anniversaries of the
              commencement of Mr. Walin's employment with us, provided he is then
              employed by us.
·
A
              second 10-year option to
purchase
              5% of the number of shares of common stock sold by us in the next offering
              of our securities completed within two years of the commencement of
              Mr.
              Walin's employment with us. The exercise price for this option will equal
              the greater of the closing price of our common stock on the day before
              (i)
              the commencement of his employment with us, and (ii) the date this
              option
              is granted. Fifty percent of the shares under this option will be
              immediately exercisable and an additional 25% of such shares will become
              exercisable on each of the first and second anniversaries of the grant
              of
              the option, provided Mr. Walin is then employed by us.
In
      addition, pursuant to the Employment Agreement, in the event that Mr. Walin's
      employment is terminated by us without "Cause" or by Mr. Walin for "Good Reason"
(as such terms are defined in the Employment Agreement), Mr. Walin will be
      entitled to:
·
payment
              of all accrued but unpaid base salary, his signing bonus (to the extent
              then unpaid), and unpaid annual bonus with respect to any completed
              fiscal
              year;
·
payment
              of his base salary and continued medical benefits for 12 months; provided,
              that if such termination occurs after a "Change in Control" Mr. Walin will
              instead be entitled to a payment equal to 200% of his base salary and
              continued medical benefits for 24 months;
·
pro-rated
              bonus for the year in which the termination occurs, payable following
              such
              fiscal year to the extent he would have otherwise been entitled to
              such
              bonus; and
·
provided
              at least six months has expired since the last vesting of an option
              grant,
              a pro rata vesting of his option shares which are scheduled to vest
              on the
              next vesting date; provided, that if such termination occurs after
              a
              "Change in Control" or after the first anniversary of Mr. Walin's
              employment with us, all of the unvested options will immediately
              vest.
If
      Mr.
      Walin's employment is terminated as a result of his death or disability, we will
      pay him his accrued but unpaid base salary, unpaid signing bonus, and unpaid
      annual bonus with respect to any completed fiscal year, and a pro-rated portion
      of any bonus he would have otherwise been entitled for the fiscal year in which
      the termination occurs.
Mr.
      Walin
      is prohibited under the Employment Agreement from using or disclosing any of
      our
      proprietary information, competing with us, hiring any of our employees or
      consultants and soliciting any of our customers or suppliers to reduce or cease
      business with us.
A
      copy of
      Mr. Walin's Employment Agreement with us has been filed as Exhibit 10.1 to this
      Current Report on Form 8-K and is incorporated herein by reference.
Item
        5.02.
Departure
        of Directors or Principal Officers; Election of Directors; Appointment of
        Principal Officers.
Effective
      March 6, 2006, Steven E. Walin , age 50, has been appointed as our Chief
      Executive Officer, to serve in such capacity pursuant to the terms of the
      Employment Agreement described in Item 1.01 above, which is incorporated herein
      by reference. Mr. Walin will replace Nazzareno E. Paciotti, who continues to
      serve us as our Chief Financial Officer.
Mr.
      Walin
      has over 20 years of experience in the security industry. Most recently, from
      April 2003 until his appointment as our Chief Executive Officer, Mr. Walin
      served as the President of GE Security Enterprise Solutions, a division of
      General Electric Company that provides security solutions, including video
      monitoring, intrusion and access control systems. Prior to his employment with
      GE, from July 2001, Mr. Walin served as the Senior Vice President - North
      America Security for the Security Systems Division of Siemens Building
      Technologies. Prior to that, Mr. Walin had been the President and Chief
      Operating Officer of Securities Technology Group, Inc. until it was acquired
      by
      Siemens in July 2001.
Item
      9.01. Financial Statements and Exhibits.
(d)
Exhibits
.
Exhibit
              10.1
Employment
                Agreement, dated as of January 31, 2006, between GVI Security Solutions,
                Inc. and
Steven
                E. Walin
.
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:
              February 21,
              2006
GVI
              SECURITY
              SOLUTIONS, INC.
By:
/s/
              Howard Safir
Name:
              Howard Safir
Title:  
              Chairman of the Board
EXHIBIT
      INDEX
No.
Description
10.1
Employment
                Agreement, dated as of January 31, 2006, between GVI Security Solutions,
                Inc. and
Steven
                E. Walin
.