Attached files
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| EX-10.1 - EMPLOYMENT AGREEMENT BY AND BETWEEN CINNABAR VENTURES, INC. AND LINDA STARR. - Cinnabar Ventures Inc | f8k020810ex10i_cinnebar.htm |
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): February 8, 2010
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Cinnabar
Ventures, Inc.
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(Exact
name of registrant as specified in its
charter)
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Nevada
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333-145443
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98-0585450
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(State or other
jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification Number)
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17595
S. Tamiami Trail, Suite 300
Fort
Myers, FL 33908
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(Address
of Principal Executive Office) (Zip Code)
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239-561-3827
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(Registrant’s
telephone number, including area code)
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(Former
name or former address, if changed since last
report)
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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:
[ ]
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
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On
February 8, 2010 (the “Effective Date”), Cinnabar Ventures, Inc. (the “Company”)
and Linda Starr (“Starr”) entered into an employment agreement (the
“Agreement”). Pursuant to the Agreement, Starr was appointed Chairman of the
Board of Directors; the term of the Agreement is for 3 years from the Effective
Date and shall continue thereafter as long as Starr is elected Chairman of the
Board of Directors of the Company.
Linda Starr, age 52, has more
than 30 years of successful and in-depth experience in senior management roles
in the high technology industry. Ms. Starr has spent the past six and
a half years in various executive sales, marketing and strategy roles within
Advanced Micro Devices, Inc. (“AMD”), a semiconductor company which provides
processing solutions for the computing, graphics and consumer electronics
markets in the United States, Canada, Europe and Asia. Most recently, Ms. Starr
held the position of Corporate Vice President and Chief Sales Strategist within
AMD, where she was instrumental in driving key customer acquisition and
performance strategies, resulting in record growth for which she was awarded the
Company’s highest honor, “The AMD President’s Award” for her leadership and
contributions. Prior to joining AMD, in 2003, Ms. Starr held the position of Sr.
Vice President, Sales & Marketing (Global) at VBrick Systems, a supplier of
high performance video networking solutions. Before that, Ms. Starr held key
management positions at both start-up organizations and large companies, ranging
from pre-revenue to IPO at Visioneer, Inc, as the founding sales executive; to
the range of $500 Million revenue responsibility as a Vice President for NEC
Technologies; to $13 Billion in revenue responsibility, as the Vice President of
Channels for Compaq Computer Corporation. Ms. Starr brings a wealth
of experience and a strong record of top performance and achievement in sales,
marketing, operations, M&A transactions, strategy and business
development. Ms. Starr also served as a Managing Partner for Heidrick
and Struggles Los Angeles office, where she was responsible for recruiting and
management consulting services for top executives in the technology, financial,
healthcare and entertainment industries.
Family
Relationships
Mr. Starr
does not have a family relationship with any of the officers or directors of the
Company.
Employment
Agreement
Pursuant
to the terms of the Agreement, Starr will be paid a directors fee of $120,000
per year, which shall be paid monthly in advance, at a rate of $10,000 per
month. In addition, the Company has granted Starr on option to
purchase 500,000 shares of the Company’s common stock at an exercise price of
$0.01 per share (subject to the approval of the board of directors), which shall
be fully vested on the Effective Date.
Related
Party Transactions
There are
no related party transactions reportable under Item 5.02 of Form 8-K and Item
404(a) of Regulation S-K.
The
foregoing description of the Employment Agreement is not intended to be complete
and is qualified in its entirety by the complete text of the agreement attached
as an exhibit to this Current Report on Form 8-K.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits.
10.1 Employment
Agreement by and between Cinnabar Ventures, Inc. and Linda Starr.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this Current Report to be signed on its behalf by the undersigned
hereunto duly authorized.
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CINNABAR
VENTURES, INC.
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Date:
February 12, 2010
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By:
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/s/
Richard Granville
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Richard
Granville
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Chief
Executive Officer
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