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): August 31,
2010
WLG
INC.
(Exact
name of registrant as specified in its charter)
Delaware
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333-113564
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20-0262555
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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920
East Algonquin Road
Suite
120
Schaumburg,
IL 60173 USA
(Address
of Principal Executive Offices/Zip Code)
(224)
653-2800
(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 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-4c))
Item
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(b) David
Koontz, WLG Inc.’s (the “Company”) Chief Financial Officer and a former director
informed the Company’s board of directors that he was resigning as the Company’s
Chief Financial Officer effective August 31, 2010. Mr. Koontz will
remain available to the Company on an ongoing basis should his services be
required. The Company has agreed to continue to pay Mr. Koontz his
salary, car
allowance of $750 per month and his health insurance premiums of $500 per
month until August 2011. The
Company will also reimburse him for all outstanding expenses as of August 31,
2010. Should Mr. Koontz’ services be required in the future the Company will
reimburse him for out of pocket expenses as may be incurred.
(c) Effective
September 1, 2010, Ed Pawelko, the Chief Executive Officer of WLG USA, LLC, will
become the Company’s Chief Financial Officer. There are no
understandings or arrangements between Mr. Pawelko and any other
person pursuant to which Mr. Pawelko was selected as an executive officer
of the Company. Mr. Pawelko does not have any family relationship with any
director, executive officer or person nominated or chosen by the Company to
become a director or executive officer.
Mr.
Pawelko, age 48, joined the Company in March 2008 as Chief Financial Officer of
World Commerce Services, LLC (d/b/a WLG USA, LLC) working out of the US
headquarters based in Chicago. He served in that position until December 1,
2009, when he was promoted to be the Chief Executive Officer of WLG USA,
LLC. Mr. Pawelko began his professional career in August 1987 with
Meggitt Piher, a manufacturer and distributor of electronic components, where he
served in a variety of financial positions culminating as the company's
Treasurer. Subsequently, commencing in April 2001, he worked for
Marconi Data Systems as Group Controller before joining Reilly
International, an international freight forwarder and Customs broker, as
its Chief Financial Officer in April 2002. Mr. Pawelko received
his MBA with a concentration in Accounting (honors) from the Keller Graduate
School of Management in June 1997 and a BA from the University of Illinois in
June 1984.
This
Current Report on Form 8-K may contain, among other things, certain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, including, without limitation, statements with
respect to the Company's plans, objectives, expectations and intentions and
other statements identified by words such as may, could, would, should,
believes, expects, anticipates, estimates, intends, plans or similar
expressions. These statements are based upon the current beliefs and
expectations of the Company's management and are subject to significant risks
and uncertainties. Actual results may differ from those set forth in the
forward-looking statements. These forward-looking statements involve certain
risks and uncertainties that are subject to change based on various factors
(many of which are beyond the Company's control).
SIGNATURE
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.
WLG
INC.
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Date: September
2, 2010
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By:
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/s/ Edmund Pawelko
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Name: Edmund
Pawelko
Title:
Chief Financial Officer
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