SM&A extends agreement with former CEO

By Lisa Kerner

Charlotte, N.C., Dec. 19 - SM&A has until Jan. 2 to replace two members of its board of directors after extending its settlement agreement with company founder and former chief executive officer Steven S. Myers.

The company said it will take the necessary action to replace the directors by that time, according to a form 8-K filed with the Securities and Exchange Commission.

In May 2008, SM&A agreed to add two new independent board members from a pool of candidates recommended by major shareholders, including Myers, in order to avoid a proxy contest.

Myers was seeking to have himself and three others elected to SM&A's board, it was previously reported.

SM&A, based in Newport Beach, Calif., provides competition management and program support services to industrial customers in the aerospace and defense, information technology, telecommunications and other industries.

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