SEC Form 8-K filed
$HFEN
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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,
2021
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ALSET EHOME INTERNATIONAL INC.
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(Exact
name of registrant as specified in its charter)
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Delaware
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001-39732
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83-1079861
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(State
of incorporation or organization)
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(Commission
File
Number)
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(IRS
Employer Identification No.)
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4800 Montgomery Lane, Suite 210
Bethesda, Maryland 20814
(Address of principal executive offices) (Zip
Code)
Registrant’s
telephone number, including area code (301) 971-3940
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):
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☐
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
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Title of Each Class
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Trading Symbol(s)
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Name of Each Exchange on Which Registered
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Common
Stock, $0.001 par value
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AEI
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The
Nasdaq Stock Market LLC
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Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of
1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. ☐
Item
1.01
Entry
into a Material Definitive Agreement.
On
February 8, 2021, Alset EHome International Inc. (the
“Company”) and the Company’s subsidiary Hengfai
Business Development Pte Ltd. entered into an Executive Employment
Agreement (the “Employment Agreement”) with the
Company’s Chairman and Chief Executive Officer, Chan Heng Fai
(the “Executive”). Pursuant to the Employment
Agreement, Mr. Chan’s compensation will include a fixed
salary of $1 per month and two bonus payments each year consisting
of: (i) one payment equal to Five Percent (5%) of the growth in
market capitalization the Company experiences in any year; and (ii)
one payment equal to Five Percent (5%) of the growth in net asset
value the Company experiences in any year. In each case, such
payment is to be calculated within seven (7) days of December 31st
of each year. Such bonus payments shall be paid in cash or the
Company’s common stock, at the election of the Executive. The
term of the Employment Agreement ends on December 31,
2025.
The
foregoing description of the Employment Agreement does not purport
to be complete and is qualified in its entirety by reference to the
complete text of the Employment Agreement, a copy of which is filed
as Exhibit 10.1 to this Current Report on Form 8-K.
Item
5.02
Departure
of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On
February 8, 2021, the Company and Hengfai Business Development Pte
Ltd. entered into an Executive Employment Agreement with the
Company’s Chief Executive Officer, Chan Heng Fai. The
description of the Employment Agreement set forth in Item 1.01
above is incorporated herein by reference thereto.
Item
9.01
Financial
Statements and Exhibits.
(d)
Exhibits.
Exhibit
Number
Exhibit
Executive
Employment Agreement, by and between Alset EHome International
Inc., Hengfai Business Development Pte Ltd. and Chan Heng Fai,
dated as of February 8, 2021.
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.
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ALSET EHOME INTERNATIONAL INC.
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Date:
February 12, 2021
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By:
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/s/ Rongguo Wei
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Name:
Rongguo Wei
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Title:
Co-Chief Financial Officer
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