Summary of CDEX INC - Yahoo! Finance

Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, F

Item 1.01 Entry into a Material Definitive Agreement

Effective November 11, 2008, CDEX, Inc., a Nevada corporation ("Registrant"), entered into an employment agreement with Stephen McCommon to serve as Chief Financial Officer. The agreement provides for payment to Mr. McCommon of an annual cash salary of $105,000 as well as 100,000 stock options, which will vest 1/2 on October 23, 2009, and 1/2 on October 23, 2010, as long as he is providing to the Registrant substantial services pursuant to a contract with the Registrant at the time of vesting.

A copy of the Employment Agreement is attached to this Current Report as Exhibit 99.1 and incorporated herein by reference.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

CDEX announces the appointment of Stephen McCommon, who is joining the CDEX management team as the new Chief Financial Officer effective November 11, 2008. Between October 23, 2008 and November 11, 2008, Mr. McCommon will work as a consultant for the company transitioning with the outgoing CFO, Mr. Augie DeLuca, whose October 17, 2008 resignation was accepted by the Board of Directors on October 23, 2008. In his position as CFO, Mr. McCommon will supervise all accounting and financial activities, treasury, financial modeling and risk management. He most recently served in a senior financial management position with Applied Energetics, Inc., and has also worked for Molecular Diagnostics, Inc., Heartland Technology, Inc., and Wells Fargo Bank. More detailed biographical information is available on Registrant's web-site at www.cdex-inc.com.

Mr. McCommon has entered into an Employment Agreement with Registrant, as disclosed in Item 1.01. A copy of the Employment Agreement is attached to this Current Report as Exhibit 99.1 and incorporated herein by reference.

A copy of a press release issued on October 23, 2008 announcing Mr. DeLuca's resignation and Mr. McCommon's appointment is attached to this Current Report as Exhibit 99.2 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

Exhibit
Number            Title of Document
------            -----------------
99.1              Mr. McCommon's Employment Agreement
99.2              Press Release, dated October 23, 2008