form8k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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): October 1,
2008
LiveDeal,
Inc.
(Exact
Name of Registrant as Specified in Charter)
Nevada
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000-24217
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85-0206668
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(State
or Other Jurisdiction of Incorporation)
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(Commission
File Number)
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(IRS
Employer Identification
No.)
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2490
East Sunset Road, Suite 100, Las Vegas, Nevada
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89120
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(Address
of Principal Executive Offices)
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(Zip
code)
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(702)
654-9646
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(Registrant’s
telephone number, including area code)
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Not
Applicable
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(Former
Name or Former Address, if Changed Since Last Report)
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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 A.2. below):
o
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Written communications pursuant
to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
5.02.
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers.
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On
October 1, 2008, LiveDeal, Inc. (the “Company”) and Michael Edelhart entered
into an Amended and Restated Employment Agreement (the “Restated Agreement”),
pursuant to which Mr. Edelhart was appointed Chief Executive Officer of the
Company for a three-year employment term. Mr. Edelhart had been
serving as interim CEO of the Company since July 1, 2008.
The
Restated Agreement provides that Mr. Edelhart will be paid a base salary of
$250,000 per year and will be eligible to receive a bonus of up to $60,000 per
year if the Company achieves certain performance objectives established by the
Company’s Board of Directors and/or its Compensation
Committee. Mr. Edelhart also received an option to purchase
150,000 shares of the Company’s common stock under the Company’s 2003 Stock
Plan. The option grant, which is subject to shareholder approval,
vests in 48 equal monthly installments. Mr. Edelhart’s options would
immediately accelerate and vest upon any change of control of the Company (if
Mr. Edelhart’s employment was terminated from and after such change of
control). Finally, the Restated Agreement provides that the Company
will reimburse Mr. Edelhart for reasonable business expenses and allow him to
participate in its regular benefit programs.
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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LIVEDEAL,
INC.
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Date:
October 6, 2008
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/s/
Gary L. Perschbacher
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Gary
L. Perschbacher
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Chief
Financial Officer
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