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
October
13, 2009
Date of
Report (Date of earliest event reported)
Zion
Oil & Gas, Inc.
(Exact
name of registrant as specified in its charter)
Delaware
(State or
other jurisdiction of incorporation)
001-33228
(Commission
File Number)
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20-0065053
(IRS
Employer Identification No.)
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6510
Abrams Road, Suite 300, Dallas, TX 75231
(Address
of Principal Executive
Offices) (Zip
Code)
214-221-4610
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:
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 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
In
connection with the scheduled expiration of his employment agreement with Zion
Oil & Gas, Inc. (the “Company”) on December 31, 2009, Mr. William Avery, the
Company’s Executive Vice President and a director, notified the Company on
October 13, 2009, that he is resigning from all positions held with the Company,
including his directorship, in order to develop various personal businesses and
the practice of law. The resignation, which is with the agreement of the
Company, is effective immediately. In connection with his resignation, the
Company will pay out the amounts to which Mr. Avery is entitled under his
employment agreement through December 31, 2009 and Mr. Avery will be able to
exercise options to purchase up to 40,000 shares of the Company’s common stock
previously issued to him, through the original exercise period ending on
December 4, 2017.
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 hereto
duly authorized.
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Zion
Oil and Gas, Inc.
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By:
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/s/ Richard
J. Rinberg |
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Richard
J. Rinberg
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Chief
Executive Officer
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