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): May 15, 2008
LEGENDS
BUSINESS GROUP, INC.
(Name
of
small business issuer in its charter)
|
Nevada
|
333-140666
|
20-4465282
|
|
(State
or Jurisdiction of
Incorporation
or Organization)
|
Commission
File Number
|
(I.R.S.
Employer
Identification
No.)
|
|
|
|
|
1375
Semoran Boulevard
Casselberry,
Florida 32707
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: (407-263-4029)
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:
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-4(c))
Item
5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
Employment
Agreement
On
May
15, 2008, Legends Business Group, Inc. entered into an Employment Agreement
with
Larry Powalisz, Chief Executive Officer and President of the Company. The
Agreement evidences that Mr. Powalisz has accepted the title and duties that
accompany the position of President and Chief Executive Officer of the Company.
The Agreement shall be in effect for a period of three years, commencing May
1,
2008 and expiring on May 1, 2011. During the term of the Agreement, Mr. Powalisz
shall be paid at the annual rate of $130,000.00 (one hundred and thirty thousand
dollars). Mr. Powalisz shall be allowed to participate in all general employee
benefit plans and programs as soon as they are made available.
Press
Releases
On
May
16, 2008, Legends Business Group, Inc. issued a press release announcing the
Employment Agreement. A copy of this press release is attached hereto as Exhibit
A.
Item
9.01
Financial
Statements and Exhibits.
d.)
Exhibits
|
10.1
|
Compensation
Agreement
|
|
99.1
|
Legends
Business Group, Inc. press release dated May 16, 2008.
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
|
Date:
May 20,
2008
|
LEGENDS
BUSINESS
GROUP, INC.
|
|
|
|
|
|
|
By:
/s/ Larry
Powalisz
|
|
|
|
Larry
Powalisz,
President
and
Chief
Executive Officer
|
LEGENDS
BUSINESS GROUP AND POWALISZ COMMIT TO EXELLENCE
Casselberry,
Fl--(MarketWire)--May 16, 2008. Larry Powalisz CEO, Legends Business Group,
Inc.
(OTCCBB:LGBS) announced today he has entered into an Employment Contract with
Legends Business Group, Inc.andwill be devoting himself fulltime to the
development and expansion of hispublicly traded company.
Additionally,
Mr. Powalisz will bring his private company, YP Values under the guidance of
LGBS. YP Values had formerly been managed by K&L International Enterprises,
Inc., which is also owned by LGBS’s CEO, Larry Powalisz.
“These
moves solidify my commitment to LGBS and the shareholders. These steps
demonstrate the high dedication embraced by myself and Legends Business Group.”
says Powalisz.
The
Employment Agreement covers a term of three years beginning May 1,
and
includes automatic one-year renewal options.
The
agreement details the duties Mr. Powalisz will perform for Legends Business
Group, Inc. and provides a compensation plan.
YP
Values
is an internetservice provider that also provides internet Directory Listings
and Web Hosting to small and medium sized businesses throughout the United
States. Mr. Powalisz has owned and operated YP Values since 2002.
“AligningYP
Values and Legends Business Group, Inc.makes sense. The alignmentallows for
better utilization of my time and provides invaluable access to industry
leaders. YP Values is an existing and successful business and will provide
an
instant revenue stream for LGBS” said Larry Powalisz.
About
Legends Business Group, Inc.:
Legends
Business Group, Inc. is an Over the Counter Bulletin Board stock which trades
under the symbol LGBS. To obtain additional information about Legends Business
Group, Inc., please visit the Company’s website, which may be found at:
www.lbgi.net.
This
press release contains statements that are “forward-looking,” and involve a
number of risks and uncertainties. Statements that are not historical facts
are
considered forward-looking statements, and are subject to Safe Harbor provisions
as defined in the United States Private Securities Litigation Reform Act of
1995
Company results and performance may be materially different from future results,
strategies, plans or goals expressed or implied by any forward looking
statements made herein. The Company disclaims any obligation to update or revise
any forward-looking statements.
Contact:
Legends
Business Group, Inc.
Larry
Powalisz, 407-263-4029
inquiries@lbgi.net
