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) April 15, 2009
Lateral
Media, Inc.
(Exact
name of registrant as specified in its charter)
Delaware
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333-136806
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98-0539032
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(State
or Other Jurisdiction
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(Commission
File Number)
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(I.R.S.
Employer
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of
Incorporation)
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Identification
No.)
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2121
Avenue of the Stars, Suite 2550
Los
Angeles, CA 90067
(Address
of principal executive
offices
including zip code)
(310)
601-2500
(Registrant’s
telephone number,
including
area code)
(Former
name or former address, if changed since last report)
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 1.01 ENTRY INTO A MATERIAL
DEFINITIVE AGREEMENT.
Lateral Media, Inc. (the “Company”)
entered into an employment agreement (the “Employment Agreement”) with Michael
Rose, effective as of April 15, 2009, pursuant to which Mr. Rose became
Executive Vice President, Operations of the Company. The Employment
Agreement may be terminated by the Company or Mr. Rose at any time, for any
reason or for no reason. Mr. Rose will receive a base salary of
$200,000 per year, and shall be eligible to receive certain quarterly
commissions as set forth in the Employment Agreement. Additionally, the Company
granted Mr. Rose an option to purchase 228,596 shares of the Company’s common
stock, $0.001 par value per share, at an exercise price of $1.25 per share,
pursuant to the Company’s 2007 Employee, Director and Consultant Stock Plan, as
amended. The foregoing description of the Employment Agreement does not purport
to be complete and is qualified in its entirety by reference to the Employment
Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated
herein by reference.
ITEM
9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d)
Exhibits
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Exhibit No.
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Exhibit
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10.1
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Employment
Agreement, by and between Lateral Media, Inc. and Michael Rose, effective
as of April 15, 2009.
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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.
Date:
April 17, 2009
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LATERAL
MEDIA, INC.
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By:
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/s/
Jeffrey Schwartz
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Name:
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Jeffrey
Schwartz
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Title:
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Chief
Executive Officer
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