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 1934
Date of Report: July 10, 2008
a21, Inc.
(Exact name of registrant as specified in its charter)
Delaware (State or Other Jurisdiction of Incorporation) | 000-51285 (Commission File Number) | 74-2896910 (I.R.S. Employer Identification No.) |
7660 Centurion Parkway, Jacksonville, Florida (Address of Principal Executive Offices) | 32256 (Zip Code) |
Registrant’s telephone number, including areas code: (904) 565-0066
| |
| (Former Name or Former Address, is 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 A2. 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 5.02: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On July 10, 2008, a21, Inc. (the Company”) entered into an amended and restated employment agreement with John Ferguson, the Company’s Chief Executive Officer, pursuant to which Mr. Ferguson will be entitled to receive (in addition to the compensation specified in his original employment agreement): (i) a special bonus of up to $125,000, in the event that the Company undergoes a change of control and a greater than $9,000,000 reduction in the amount of the Company’s outstanding promissory notes occurs; and (ii) an increase in the severance payments to be received in the event that Mr. Ferguson is terminated by the Company without Cause (as defined in the agreement) after a change in control of the Company from an amount equal to six (6) months salary, or $125,000, to an amount equal to twelve (12) months’ salary, or $250,000, payable over a period of one year.
All other material terms of the employment agreement remain the same.
Item 9.01: Financial Statements and Exhibits.
| |
| 10.1 | Amended and Restated Employment Agreement dated July 10, 2008 |
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.
a21, INC. By: | /s/ John Z. Ferguson |
| | John Z. Ferguson Chief Executive Officer |
Dated: July 15, 2008
EXHIBIT INDEX
| |
| 10.1 | Amended and Restated Employment Agreement dated July 10, 2008 |
