-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U/xAPPatFyR93+2sesJ3XHCGiOkWaycKDHrrkW+UqsFImlCzhul1paU7/xGE0gk/ HZN0Ilo+YIDd2pe9tm8K2g== 0001017951-08-000034.txt : 20080204 0001017951-08-000034.hdr.sgml : 20080204 20080204155830 ACCESSION NUMBER: 0001017951-08-000034 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080122 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20080204 DATE AS OF CHANGE: 20080204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ZAP CENTRAL INDEX KEY: 0001024628 STANDARD INDUSTRIAL CLASSIFICATION: MOTORCYCLES, BICYCLES & PARTS [3751] IRS NUMBER: 943210624 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32534 FILM NUMBER: 08572335 BUSINESS ADDRESS: STREET 1: 501 FOURTH STREET CITY: SANTA ROSA STATE: CA ZIP: 95401 BUSINESS PHONE: 7075258658 MAIL ADDRESS: STREET 1: 501 FOURTH STREET CITY: SANTA ROSA STATE: CA ZIP: 95401 FORMER COMPANY: FORMER CONFORMED NAME: ZAPWORLD COM DATE OF NAME CHANGE: 19990715 FORMER COMPANY: FORMER CONFORMED NAME: ZAP POWER SYSTEMS INC DATE OF NAME CHANGE: 19970319 8-K 1 f8k_012208i101.htm FORM 8-K DATED JANUARY 22, 2008 f8k_012208i101.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): January 22, 2008
 
ZAP
(Exact name of Registrant as specified in charter)
         
California
(State or other jurisdiction
of incorporation)
  
0-303000
(Commission File Number)
  
94-3210624
(IRS Employer
Identification Number)

501 Fourth Street
Santa Rosa, California 95401
(Address of principal executive offices)

(707) 525-8658
(Registrant’s telephone number, including area code)

 
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
  
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 CFR240.14a-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 240.13(e)-4(c))






     
Item 1.01
  
Entry into a Material Definitive Agreement
 
The following discussion provides only a brief description of the documents described below. The discussion is qualified in its entirety by the full text of the agreements, which are attached to this Current Report on Form 8-K as exhibits.
 
Vehicle Distribution Agreement
 
On January 22, 2008, ZAP (the “Company”) entered into a Vehicle (Buses & Coaches) Distribution Agreement (the “Distribution Agreement”) with Jinhua Youngman Automobile Sales Co. Ltd., a company organized in the People’s Republic of China (“Youngman”) pursuant to which Youngman appointed the Company as the sole exclusive distributor for the North America region.
 
Pursuant to the Distribution Agreement, the Company was granted exclusive rights to market, sell and distribute all vehicles over 12 meters in length manufactured by Youngman, including transit buses and coaches, within the North American market.  The Company was granted the exclusive rights for 12 months (the “Term”) during which the Company has agreed to sell a certain number of vehicles within each of the U.S., Canada and Mexico (each a “Target Number “).  Pricing of the vehicles to the Company will be Youngman’s Asia Pacific pricing and discount structure (the lowest pricing available).
 
The Company will be responsible for the certification and homologation of the vehicles in the U.S., Canada and Mexico.  The Company will provide certification and homologation standards for all three countries to Youngman by February 21, 2008 and Youngman will provide sample vehicles meeting those standards to the Company.
 
If the Company sells the Target Numbers of vehicles in the U.S., Canada and Mexico during the Term, Youngman shall extend the Term for another 12 months and the Target Numbers will be increased.  In that event, Youngman will also grant the Company the right to assemble some of the vehicles in the U.S.  Youngman will provide the vehicles to be assembled in a semi knock down form, where engine, transmission, clutch, tires and vehicle lamps can be purchased from Youngman to be integrated and assembled in the U.S. With the approval of Youngman, some of those components can be purchased within America.
 
If the Company fails to sell the Target Numbers of vehicles in the U.S., Canada and Mexico during the Term, Youngman has the right to revoke the exclusive rights granted to the Company; however, the Company would retain non-exclusive rights to market, sell and distribute the vehicles.
 




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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.


 
Dated: February 4, 2008                                                                  ZAP
         
       
By:  /s/ Steven M. Schneider
 
       
Steven M. Schneider
Chief Executive Officer


 
 
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