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) January 3, 2002
-------------------------------
EVOLVE ONE, INC.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 0-26415 52-2175532
--------------------------------------------------------------------------------
(State or other jurisdiction (Commission File (IRS Employer
or incorporation) Number) Identification No.)
6413 Congress Avenue, Suite 240, Boca Raton, Florida 33487
------------------------------------------------------------
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code (561) 988-0819
-----------------------------
N/A
-------------------------------------------------------------
(Former name or former address, if changed since last report)
ITEM 5 OTHER INFORMATION:
The Company has entered into an Employment Agreement with Gary J.
Schultheis, its President and Chief Executive Officer. During the eight-year
term, Mr. Schultheis will receive a base salary of $150,000 with annual
increases of 10% per year. The executive will also receive annual options to
purchase 1,000,000 shares of common stock at market price less a 15% discount.
The executive will also receive an annual unaccountable expense allowance of
$10,000 per year. Certain of the compensation accelerates in the event the
executive is terminated for reasons other than for cause, which includes
termination following a change of control of the Company. The executive also
agreed to certain restrictive covenants relevant to competitive activities
following termination.
The Company has also entered into an Employment Agreement with Herbert
Tabin, its Director of Marketing and a member of its Board of Directors. The
executive will also receive a base salary of $150,000 and annual options to
purchase 1,000,000 shares of common stock of the Company, and other provisions
similar to the arrangements concluded with Mr. Schultheis.
ITEM 7. EXHIBITS:
10.1 Executive Employment Agreement with Gary J. Schultheis
10.2 Executive Employment Agreement with Herbert Tabin
SIGNATURES
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 thereunto duly authorized.
EVOLVE ONE, INC.
By: /s/ Gary Schultheis
--------------------------
Gary Schultheis, President
DATED: January 31, 2002