Asia Time Corp - Current report filing (8-K)
02 Oktober 2008 - 11:02PM
Edgar (US Regulatory)
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 27, 2008
ASIA
TIME CORPORATION
(Exact
Name of Registrant as Specified in Charter)
|
Delaware
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001-33956
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20-4062619
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
|
|
of
incorporation)
|
File
Number)
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Identification
No.)
|
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Room
1601-1604, 16/F., CRE Centre
889
Cheung Sha Wan Road, Kowloon, Hong Kong
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N/A
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(Address
of principal executive offices)
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(Zip
code)
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|
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Registrant’s
telephone number, including area code:
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(852)-23100101
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N/A
(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:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting
material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule
14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
o
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.
On
September 27, 2008, the shareholders of Asia Time Corporation (the “Company”)
adopted the Asia Time Corporation 2008 Equity Incentive Plan (the “Plan”). The
purpose of the Plan is to provide additional incentive to the Company’s
officers, directors, other key employees and significant consultants by
encouraging them to invest in shares of the Company’s common stock, and thereby
acquire a proprietary interest in the Company and an increased personal interest
in its progress.
The
Plan
authorizes the grant of options to purchase shares of common stock and the
grant
of stock issuances. Administration of the Plan is carried out by the Company’s
Board of Directors or any committee of the Board of Directors to which the
Board
of Directors has delegated all or a portion of responsibility for the
implementation, interpretation or administration of the Plan. Company employees,
officers and directors (including employees, officers and directors of the
Company’s affiliates) are eligible to participate in the Plan. The administrator
of the Plan will select the participants who are granted stock options or stock
issuances and, consistent with the terms of the Plan, will establish the terms
of each stock option or stock issuance. The maximum period in which a stock
option may be exercised is ten years. Under the Plan, the maximum number of
shares of common stock that may be subject to stock options or stock issuances
is 2,500,000. As of the date of this filing, the Company has not granted any
securities under the Plan.
Item
9.01
Financial
Statements and Exhibits.
(d)
Exhibits
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Exhibit
Number
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Description
|
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10.1
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Asia
Time Corporation 2008 Equity Incentive Plan (incorporated by reference
to
Appendix A-1 the Company’s Definitive Proxy Statement filed with the
Securities and Exchange Commission on September 3,
2008)
|
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10.2
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Form
of Notice of Grant of Stock Option of the Registrant (incorporated
by
reference to Appendix A-2 the Company’s Definitive Proxy Statement filed
with the Securities and Exchange Commission on September 3,
2008)
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10.3
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Form
of Stock Option Agreement (including Addendum) of the Registrant
(incorporated by reference to Appendix A-3 the Company’s Definitive Proxy
Statement filed with the Securities and Exchange Commission on September
3, 2008)
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10.4
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Form
of Stock Issuance Agreement (including Addendum) of the Registrant
(incorporated by reference to Appendix A-4 the Company’s Definitive Proxy
Statement filed with the Securities and Exchange Commission on September
3, 2008)
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10.5
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Form
of Stock Purchase Agreement (including Addendum) of the Registrant
(incorporated by reference to Appendix A-5 the Company’s Definitive Proxy
Statement filed with the Securities and Exchange Commission on September
3, 2008)
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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.
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Date:
October
1, 2008
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ASIA
TIME CORPORATION
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By:
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/s/
Kwong Kai Shun
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Name
Kwong
Kai Shun
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Title:
Chief Executive Officer, Chief Financial Officer and Chairman of
the
Board
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