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 of 1934
November 4, 2010
Date of Report (Date of earliest event reported)
ONVIA, INC.
(Exact name of registrant as specified in its charter)
| | | | |
| Delaware | | 000-29609 | | 91-1859172 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
|
509 Olive Way, Suite 400 Seattle, Washington 98101 |
| (Address of principal executive offices) (Zip Code) |
Registrant’s telephone number, including area code: (206) 282-5170
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)) |
| Item 1.01 | Entry into a Material Definitive Agreement. |
In connection with Eric T. Gillespie’s resignation as Senior Vice President, Products, Technology and Information effective October 15, 2010, Onvia, Inc. entered into a Separation Agreement dated as of November 4, 2010 with Mr. Gillespie. The Separation Agreement provides that Mr. Gillespie will receive $225,000, which represents 12 months of base salary, up to 12 months of COBRA continuation coverage and accrued but unused paid time off (consistent with the treatment of employees generally), in exchange for a release and non-compete obligations for one year and non-solicitation obligations for two years from October 15, 2010.
| Item 9.01 | Financial Statements and Exhibits |
None.
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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.
| | | | | | |
| | | | Onvia, Inc. |
| | | |
| November 10, 2010 | | | | By: | | /s/ Henry G. Riner |
| | | | | | Henry G. Riner Chief Executive Officer & President |
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