FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
July 25, 2006
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Date of Report (Date of earliest event reported) |
ILX Resorts Incorporated
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Exact name of Registrant as specified in its charter |
ARIZONA
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(State or other jurisdiction of incorporation) |
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001-13855 | | 86-0564171 |
(Commission File Number) | | (I.R.S. Employer Identification No.) |
2111 E. Highland Avenue, Suite 200, Phoenix, AZ 85016
(Address of principal executive offices)
Registrant's telephone number, including area code602-957-2777
Item 1.01 Entry into a Material Definitive Agreement
Ty D. Krehbiel, Executive Vice President of Sales, compensation plan will consist of a salary of $36,000 per year, an override of 0.005% of net sales, upgrades and conversions on all United States sales office operations and a discretionary quarterly bonus. He is also provided with Company-owned housing as a requirement of his employment. The discretionary bonus for the quarter ending June 30, 2006 was $10,000.
The information contained on this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.
SIGNATURE
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.
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| | | ILX Resorts Incorporated |
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Date: July 25, 2006 | | /s/ Nancy J. Stone |
| | | Nancy J. Stone President |
