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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) June 13, 2000
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FUTUREONE, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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Nevada 000-30336 84-1383677
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(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
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4250 E. Camelback Road, Suite K-124, Phoenix, AZ 85018
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
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REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (602) 852-9725
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Not applicable.
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT.)
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Item 5. Other Events.
Alan P. Hald, Chairman of the Board of Directors of the
FutureOne, Inc. (the "Company"), resigned as an employee and member of the Board
of Directors of the Company. The resignation was pursuant to the terms of that
certain Employment Separation Agreement by and between the Company and Alan P.
Hald effective as of June 1, 2000 (the "Separation Agreement"). The Separation
Agreement provides for: (a) the payment of any base salary that has accrued but
has not been paid as of the date of separation pursuant to the terms of the
Employment Agreement between the Company and Alan P. Hald dated as of January 1,
2000, as amended (the "Employment Agreement"); (b) the lump sum payment of
$70,000 representing Mr. Hald's base salary through the end of term of the
Employment Agreement to be made in accordance with the terms of the Convertible
Promissory Note; (c) accrued benefits required to be provided by the terms of
any Company sponsored benefit plans or programs; (d) warrants to purchase
490,000 shares of common stock of the Company which equal the amount Mr. Hald
would have received during the term of the Employment Agreement; and (e) payment
of a transaction bonus in the cash amount of 1% of the Transaction ("Cash
Amount") and an amount of warrants, equal to the Cash Amount divided by the
strike price of $1.00 per share of the warrant upon the occurrence of certain
events, including, without limitation the closing of a public offering, private
placement, sale or merger of the Company (the "Transaction") in an aggregate
amount valued at least $10,000,000 before January 1, 2001.
The resignation was made pursuant to the terms of the Separation
Agreement and not as a result of any disagreement between Mr. Hald and the
Company.
On June 1, 2000, the Board of Directors elected Steven Green, a
member of the Board of Directors of the Company and the managing partner of
Blackwater Capital Partners, L.P., to replace Mr. Hald as Chairman of the Board.
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.
FUTUREONE, INC.
Date: June 20, 2000 By: /s/ Earl J. Cook
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Earl J. Cook
Chief Executive Officer
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FUTUREONE, INC.
CURRENT REPORT ON FORM 8-K
EXHIBIT INDEX
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Exhibit No. Exhibit
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10.1 Employment Separation Agreement by and between the
Company and Alan P. Hald effective as of June 1,
2000
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