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KALG.OB > SEC Filings for KALG.OB > Form 8-K on 22-Sep-2008All Recent SEC Filings

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Form 8-K for KAL ENERGY INC


22-Sep-2008

Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial St


Item 1.01 Entry into a Material Definitive Agreement.

On September 17, 2008, KAL Energy, Inc. (the "Company") entered into forfeiture agreements (the "Agreements") with four stockholders of the Company (the "Stockholders") pursuant to which the Stockholders agreed to return an aggregate of 9,000,000 shares (the "Returned Shares") of the Company's common stock held by the Stockholders to the Company. The Company will hold the Returned Shares as treasury stock and will reissue the Returned Shares for the sole purpose of attracting and retaining qualified directors, executive officers, managers and other key staff of the Company.

The foregoing description of the Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreements, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.



Item 7.01 Regulation FD Disclosure.

On September 22, 2008, the Company issued a press release announcing its entry into the Agreements, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information set forth under this Item 7.01, including Exhibit 99.1 referenced herein, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

     Exhibit
     Number        Description
     10.1          Form of Forfeiture Agreement, dated as of
                   September 17, 2008, by and between KAL
                   Energy, Inc. and the stockholder named
                   therein.
     99.1          Press release of KAL Energy, Inc. issued
                   September 22, 2008 announcing its entry into
                   the forfeiture agreements.


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