-----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, CChSktURU/bDr2Rii0orNsI+0KTMAldbp0pu9CHg9guekv4J9+Qrf0jg5gwI9S+C eYxS1p08C29+0nfJYVu/4g== 0001144204-07-001134.txt : 20070109 0001144204-07-001134.hdr.sgml : 20070109 20070109155925 ACCESSION NUMBER: 0001144204-07-001134 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070104 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070109 DATE AS OF CHANGE: 20070109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AURA SYSTEMS INC CENTRAL INDEX KEY: 0000826253 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690] IRS NUMBER: 954106894 STATE OF INCORPORATION: DE FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17249 FILM NUMBER: 07520656 BUSINESS ADDRESS: STREET 1: 2335 ALASKA AVE CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3106435300 MAIL ADDRESS: STREET 1: 2335 ALASKA AVE CITY: EL SEGUNDO STATE: CA ZIP: 90245 8-K 1 v062239.htm Unassociated Document
UNITED STATES
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 4, 2007
 
AURA SYSTEMS, INC.   
(Exact name of registrant as specified in charter)
 
 
 
 
 
Delaware
 
0-17249
 
95-4106894
(State or other
jurisdiction of
incorporation) 
 
(Commission File
Number) 
 
(IRS Employer
Identification No.)

2330 Utah Avenue, El Segundo California 90245
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (310) 643-5300

Not Applicable
(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 (see General Instruction A.2. below):
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 
 

Item 1.01. Entry Into Material Definitive Agreements. 


On January 4, 2007, the Company entered into an Employment Agreement with Melvin Gagerman (the “Gagerman Agreement”) effective November 1, 2006. The Gagerman Agreement provides for (1) a base annual salary of $360,000; (2) an annual bonus to be approved by the Board of Directors of up to $100,000 based on milestones providing the Company has the available cash and an additional annual bonus at the discretion of the Board of Directors of up to $100,000 for achievements in excess of expected milestones; and (3) that if he were terminated without cause at any time during the term of the agreement he will be paid an amount equal to one years base salary or the unpaid balance of the annual base salary which would have been payable through the term of the agreement, whichever amount shall be greater. In addition, the Gagerman Agreement provides that he shall be granted options to purchase 300,000 shares of the Company’s Common Stock for a period of three years at an exercise price of $2.00 per share. Such options shall vest at the rate of 25,000 per month of employment.
 
 
 
 
 

Item 9.01. Financial Statements and Exhibits.

(a)  
Financial Statements of Business Acquired

None

(b)  
Pro Forma Financial Information.

None
 
(c)  
Exhibits
 
None
 
 
 
 
 
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: January 9, 2007  
AURA SYSTEMS, INC..
 
 
 
By:  
/s/ Melvin Gagerman
 
 
 
Melvin Gagerman,
 
 
 
Chief Executive Officer
 


 


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