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<SEC-DOCUMENT>0000950129-05-001592.txt : 20050224
<SEC-HEADER>0000950129-05-001592.hdr.sgml : 20050224
<ACCEPTANCE-DATETIME>20050224143329
ACCESSION NUMBER:		0000950129-05-001592
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050221
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20050224
DATE AS OF CHANGE:		20050224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPATIALIZER AUDIO LABORATORIES INC
		CENTRAL INDEX KEY:			0000890821
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				954484725
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26460
		FILM NUMBER:		05637041

	BUSINESS ADDRESS:	
		STREET 1:		2025 GATEWAY PLACE
		STREET 2:		SUITE 365
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95110
		BUSINESS PHONE:		3102273370

	MAIL ADDRESS:	
		STREET 1:		2625 TOWNSGATE ROAD
		STREET 2:		SUITE 330
		CITY:			WESTLAKE VILLAGE
		STATE:			CA
		ZIP:			91361
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v06190e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<HEAD>
<TITLE>Spatializer Audio Laboratories, Inc. - 2/21/2005</TITLE>
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<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20459</B>
</DIV>


<P>
<HR noshade width="26%" align="center" size="1" color="#000000">
<P>



<P align="center" style="font-size: 24pt"><B>FORM 8-K</B>



<P align="center" style="font-size: 12pt"><B>CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)<BR>
OF THE SECURITIES EXCHANGE ACT OF 1934</B>


<P align="center" style="font-size: 10pt">Date of report: February&nbsp;21, 2005<BR>
(Date of earliest event reported)


<P align="center" style="font-size: 24pt"><B>Spatializer Audio Laboratories, Inc.</B>


<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as specified in its charter)</DIV>


<DIV align="center">
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    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B><BR>
(State or other jurisdiction<BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-26460</B><BR>
(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>95-4484725</B><BR>
(IRS Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>2625 Townsgate Road, Suite&nbsp;330, Westlake Village, California 91361</B><BR>
(Address of principal executive offices) (Zip Code)



<P align="center" style="font-size: 10pt"><B>2025 Gateway Place, Suite&nbsp;365, San Jose, California 95110</B><BR>
(Address of principal corporate offices) (Zip Code)



<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: (408)&nbsp;453-4180



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 (<I>see </I>General
Instruction A.2. below):


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

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    <TD width="4%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))</TD>
</TR>

</TABLE>


<P>
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<HR size="4" noshade color="#000000" style="margin-top: -10px">





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">








<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;1.01 Entry into a Material Definitive Agreement</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February&nbsp;21, 2005, Spatializer Audio Laboratories, Inc. (the &#147;Company&#148;) amended the
Employment Agreement, effective as of November&nbsp;12, 1999, as amended, with respect to Henry
Mandell&#146;s employment as Chief Executive Officer and Chief Financial Officer of the Company. The
amendment, effective as of November&nbsp;12, 2004, extended the term of Mr.&nbsp;Mandell&#146;s employment for
another year, through November&nbsp;12, 2006. In addition, the terms of the amendment provided for a
grant of a stock option to acquire 500,000 shares of common stock at an exercise price of $0.10 per
share and a term of five years. This option grant replaced options that had been previously issued
to Mr.&nbsp;Mandell under such Employment Agreement, but had since expired unexercised.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Forward Looking Statements. </I>The statements in this Form 8-K Current Report concerning current
management&#146;s expectations are &#147;forward looking statements&#148; within the meaning of Section&nbsp;27A of the
Securities and Exchange Act of 1993, as amended, and Section&nbsp;21E of the Securities and Exchange Act
of 1934, as amended, that involve risks and uncertainties. Any statements contained herein
(including, without limitation, statements to the effect that the Company or management
&#147;estimates,&#148; &#147;expects,&#148; &#147;intends,&#148; &#147;continues,&#148; &#147;may,&#148; or &#147;will&#148; or statements concerning
&#147;potential&#148; or variations thereof or comparable terminology or the negative thereof), that are not
statements of historical fact should be construed as forward looking statements. These
forward-looking statements are based on our management&#146;s current views and assumptions.


<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>Spatializer Audio Laboratories, Inc.</B><BR>&nbsp;<BR>&nbsp;<BR>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: February 21, 2005&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Henry Mandell
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Henry Mandell</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Executive Officer and Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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