Form 8-K for IA GLOBAL INC
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13-Jul-2011
Change in Directors or Principal Officers
Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Employment Agreement Extension
On June 4, 2011, the Company entered into an Employment Agreement Extension with Brian Hoekstra ("Hoekstra Extension"), the Company's Chief Executive Officer, which extends his Employment Agreement dated September 4, 2009 to September 4, 2011.
The Hoekstra Extension will be included as an exhibit to Form 10-K for the year ended March 31, 2011.
Departure of Chief Financial Officer
On April 28, 2011, the Company announced its entry into, and substantive terms of, a Separation Agreement with Mark Scott, its Chief Financial Officer. Mr. Scott tendered his resignation with an effective date of June 30, 2011. Pursuant to the separation agreement, the Company may engage Mr. Scott to assist with, among other things, the preparation and filing of the Company's 2011 Form 10-K.
Additionally, on April 28, 2011, the Company announced its entry into a Consulting Agreement with Greg LeClaire, a Director of the Company, and Mr. LeClaire's potential appointment as the Company's Chief Financial Officer upon Mr. Scott's departure. Mr. LeClaire has decided not to accept the Chief Financial Officer position at this time but will continue to provide consulting services to the Company. Mr. LeClaire will also continue to serve as a Director of the Company.
The Separation and Consulting Agreements will be included as exhibits to the Form 10-K for the year ended March 31, 2011.
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