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
| Date of Report (Date of Earliest Event Reported): | June 22, 2015 |
VIASPACE Inc.
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(Exact name of registrant as specified in its charter)
| Nevada | 333-110680 | 76-0742386 |
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(State or other jurisdiction |
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(Commission |
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(I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
| 382 N. Lemon Ave., Ste. 364, Walnut, California | 91789 | |
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(Address of principal executive offices) |
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(Zip Code) |
| Registrant’s telephone number, including area code: | 626-768-3360 |
Not Applicable
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Former name or former address, if 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:
[ ] 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.
Employment Agreement
Effective June 22, 2015, the Registrant and Dr. Carl Kukkonen entered into an Amendment to the Employment Agreement (the "Amendment") regarding an Employment Agreement (the "Agreement") originally executed on October 28, 2014, with Dr. Carl Kukkonen, CEO. The Agreement is effective for the period from October 1, 2014 through September 30, 2015. Dr. Kukkonen was to be paid $169,744 annually. The Registrant filed a Form 8-K with the SEC related to this Agreement on October 31, 2014.
Under the Amendment, both parties agreed that effective June 1, 2015, Dr. Kukkonen's salary for the remaining term of the Agreement will be based on an annual salary of $84,772. Additionally, Dr. Kukkonen will receive $28,291 worth of qualified stock options to be issued on June 22, 2015 at fair market value based on the closing price of the Registrant’s common stock as traded on the OTC Market.
The Amendment is attached hereto as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits
Exhibit No. Description
10.1 Amendment to Employment Agreement by and between the Registrant and Carl Kukkonen dated June 22, 2015.
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.
| VIASPACE Inc. | ||||
| June 23, 2015 | By: |
Stephen J. Muzi
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| Name: Stephen J. Muzi | ||||
| Title: Chief Financial Officer | ||||
Exhibit Index
Exhibit No.
Description
Amendment to Employment Agreement by and between the Registrant and Carl Kukkonen dated June 22, 2015.
Ex. 10.1
Amendment to Employment Agreement
This Amendment to the Employment Agreement (the “Amendment”), entered into this 22 nd day of June, 2015, between VIASPACE Inc., a Nevada corporation (the “Company”), and Carl Kukkonen (the “Employee”),
The Company and Employee entered into an Employment Agreement on October 28, 2014.
This Amendment replaces Section 3 (b) of the Employment Agreement with the following:
3. Compensation
(b) Salary. Effective June 1, 2015, Employee shall receive an annual salary, payable monthly, in an amount which shall initially be $84,872 per annum, subject to such increases as may from time to time be determined by the Chairman of the Board of the Company.
(C) Qualified Stock Options. Employee shall receive $28,291 worth of qualified stock options to be issued on June 22, 2015 at fair market value based on the closing price of the Company’s common stock as traded on the OTC Market. Such options will be immediately vested.
IN WITNESS WHEREOF, the Employee and Company has caused this Amendment to be executed in its name and on its behalf, all as of the day and year first above written.
/S/ CARL KUKKONEN
Carl Kukkonen
VIASPACE Inc.
By: /S/ KEVIN SCHEWE
Kevin Schewe, Director