Attached files
U.S. 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) September 1, 2011
Commission File No. 000-54359
In Media Corporation
(Name of small business issuer as specified in its charter)
Nevada 20-8644177
(State of Incorporation) (IRS Employer Identification No.)
4920 El Camino Real, Suite 100, Los Altos, CA 94022
(Address of principal executive offices)
408-849-9499
(Issuer's telephone number)
Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2 below):
[ ] 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 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN
OFFICERS.
Effective September 1, 2011, In Media Corporation (the "Corporation") and Simon
Westbrook, the Corporation's Chief Financial Officer, executed a Consultant
Agreement (the "Agreement") in which the Corporation recognized that Mr.
Westbrook provided bona fide services rendered from January 1, 2011 through
August 31, 2011 and accrued $64,000 in unpaid compensation. The Agreement
includes recognition of the services provided by the Mr. Westbrook and
recognition of consideration for deferring payment of accrued compensation, for
which Mr. Westbrook shall receive an ex-gratis bonus of $88,000 (the latter
amount also to be deferred). From September 1, 2011 forward, Mr. Westbrook will
receive the sum of Eight Thousand Dollars ($8,000) per calendar month during the
term of the Agreement. In addition, Mr. Westbrook has been granted 800,000
options to purchase shares of common stock of the Corporation, such options
shall vest in equal monthly installments over the 24 months starting January,
2011 at an exercise price of $0.15 per share. The options are granted pursuant
to the 2010 stock Option Plan.
Effective September 1, 2011, the Corporation and Dan Mabey, the Corporation's
Chief Operating Officer and a member of the Corporation's Board of Directors,
executed a Consultant Agreement (the "Agreement") in which the Corporation
recognized that Mr. Mabey provided bona fide services rendered from January 1,
2011 through August 31, 2011 and accrued $33,333.33 in unpaid compensation. The
Agreement includes recognition of the services provided by the Mr. Mabey and
recognition of consideration for deferring payment of accrued compensation, for
which Mr. Mabey shall receive an ex-gratis bonus of $26,083 (the latter amount
also to be deferred). From September 1, 2011 forward, Mr. Mabey will receive the
sum of Four Thousand Dollars, one hundred and sixty-six ($4,166) per calendar
month during the term of the Agreement. In addition, Mr. Mabey has been granted
800,000 options to purchase shares of common stock of the Corporation, such
options shall vest in equal monthly installments over the 24 months starting
January, 2011 at an exercise price of $0.15 per share. Further, the Corporation
has determined to compensate Mr. Mabey at the rate of $30,000 per year for his
service as a director of the Corporation. The options are granted pursuant to
the 2010 stock Option Plan.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(D) EXHIBITS
10.1 Form of Consultant Agreement for Simon Westbrook
10.2 Form of Consultant Agreement for Dan Mabey
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934 the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
In Media Corporation
Registrant By: /s/ Nitin Karnik
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Date: September 29,2011 Nitin Karnik
Chief Executive Officer
