SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 19, 2020 (February 16, 2020)
|(Exact name of registrant as specified in its charter)|
or other jurisdiction
|923 Incline Way #39, Incline Village, NV 89451|
|(Address of principal executive offices)|
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|(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:
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Emerging Growth Company ☒
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Securities registered pursuant to Section 12(b) of the Act: None
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
ITEM 8.01. Other Events
On February 16, 2020 (the “Effective Date”), Aerkomm Inc. (the “Company”) entered into a consultant agreement (the “Agreement”) with Daniel Shih, a co-founder and former shareholder of the Company and former Chief Executive Officer of Aircom Pacific, Inc., the wholly owned operating subsidiary of the Company. During the past few years, Mr. Shih has stepped back from the Company to pursue other interests and is no longer a shareholder of the Company.
Pursuant to the terms of the Agreement, Mr. Shih will provide services to the Company as a “Business Development Consultant” and will establish and implement a business development strategy for the Company. The Company will pay Mr. Shih a monthly retainer of $10,000 and will reimburse Mr. Shih for actual, necessary and reasonable air travel expenses incurred by Mr. Shih pursuant to this Agreement up to a maximum of Twenty Thousand U.S. Dollars (US$20,000) each calendar month and for actual, necessary and reasonable travel-related hotel and meal expenses incurred by Mr. Shih pursuant to this Agreement up to a maximum of Ten Thousand U.S. Dollars (US$10,000) each calendar month. The Agreement with Mr. Shih will terminate one year from the Effective Date or earlier under certain circumstances. As an independent contractor and not an employee of the Company, Mr. Shih will not have any power to bind the Company or to enter into any contracts on behalf of the Company or any of its subsidiaries. Mr. Shih will not be performing, or be expected or obligated to perform, any broker-dealer, finder, investment banking or investment advisor functions or services on behalf of the Company or any of its subsidiaries.
Given Mr. Shih’s background in, and knowledge of, the aviation industry, the Company believes that Mr. Shih will be able to provide valuable services to the Company at this time.
The above description is only a summary of the Agreement, a copy of which is attached hereto as Exhibit 10.1.
ITEM 9.01 Financial Statement and Exhibits
The following exhibits are filed herewith:
|Exhibit No.||Description of Exhibit|
|10.1||Consultant Agreement dated February 16, 2020 be and between the Registrant and Daniel shih.|
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: February 19, 2020||AERKOMM INC.|
|/s/ Jeffrey Wun|
|Name: Jeffrey Wun|
|Title: Chief Executive Officer|