UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act 1934
Date
of Report: January
8, 2007
a21,
Inc.
(Exact
name of registrant as specified in its charter)
|
Delaware
(State
or Other Jurisdiction of
Incorporation)
|
000-51285
(Commission
File Number)
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74-2896910
(I.R.S.
Employer Identification No.)
|
|
7660
Centurion Parkway, Jacksonville, Florida
(Address
of Principal Executive Offices)
|
|
32256
(Zip
Code)
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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):
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting
material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o
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
January 8, 2007, a21, Inc. (“a21”) entered into an employment agreement with
Bruce Slywka pursuant to which Mr. Slywka was appointed a21’s Executive Vice
President, Sales and Marketing. Mr. Slywka will receive a salary of $185,000
per
year and a signing bonus of $15,000. Mr. Slywka will be entitled to an annual
bonus based on certain performance criteria established by the Board of
Directors and a minimum bonus of $25,000 for 2007. In addition, only with
respect to the fiscal year ending December 31, 2007, Mr. Slywka will be entitled
to an additional bonus equal to 2% of a21’s net sales above a certain net sales
threshold to be established by a21’s Board of Directors. The Board of Directors
must establish the applicable threshold by March 1, 2007. a21 granted Mr. Slywka
350,000 restricted shares of a21’s common stock, of which 43,750 shares will
vest on the six month anniversary of Mr. Slywka’s employment agreement and the
remainder of which will vest in forty-two equal monthly installments on the
first day of each month thereafter such that all of such options and restricted
stock will be vested by the forty-eight month anniversary of the date of the
agreement. All unvested shares of restricted stock will immediately vest upon
a
change in control of a21. a21 will also pay up to $800 per month for Mr.
Slywka’s employee benefits, whether he chooses to use a21 provided benefit plans
or benefit plans of his choosing. The employment agreement may be terminated
by
either party without cause on 30 days written notice to the other party. In
addition, a21 may terminate the employment agreement immediately for cause,
as
defined in the employment agreement, and Mr. Slywka may terminate the employment
agreement for good reason, as defined in the employment agreement. If a21
terminates the agreement or Mr. Slywka terminates the agreement for good reason,
a21 is obligated to make certain payments to Mr. Slywka, as outlined in the
agreement.
From
January 2005 to January 2007 he served as Vice President, Worldwide Sales at
Knowledge Adventure, a leading educational software firm. Prior to that time
and
since November 1999, he was the Vice President, Sales, of a $240 million
division of Vivendi Universal Games. Mr. Slywka earned a BS in Business
Administration from San Diego State University.
Item
9.01. Financial Statements and Exhibits.
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Exhibit
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Description
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10.1
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Employment
Agreement between a21, Inc. and Bruce Slywka, dated as of January
8,
2007
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|
|
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99.1
|
|
Press
Release dated January 8, 2007
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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.
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a21,
INC. |
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By: |
/s/
Thomas Costanza |
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Thomas
Costanza
Chief
Financial Officer
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Dated:
January 10, 2007
EXHIBIT
INDEX
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Exhibit
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Description
|
| |
|
|
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10.1
|
|
Employment
Agreement between a21, Inc. and Bruce Slywka, dated as of January
8,
2007
|
| |
|
|
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99.1
|
|
Press
Release dated January 8, 2007
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