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): October
9, 2007
Puda
Coal, Inc.
(Exact
name of registrant as specified in its charter)
333-85306
(Commission
File Number)
|
Florida
|
65-1129912
|
|
(State
or other jurisdiction of incorporation)
|
(I.R.S.
Employer Identification No.)
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426
Xuefu Street, Taiyuan, Shanxi Province,
The
People’s Republic of China
(Address
of principal executive offices, with zip code)
011
86 351 228 1302
(Registrant's
telephone number, including area code)
Not
Applicable
(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 (see
General
Instruction A.2. below):
| 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))
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| o |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
1.01 Entry into a Material Definitive Agreement.
On
October 9, 2007, Puda Coal, Inc. (the “Company”)
entered into a director’s contract with Dr. C. Mark Tang, effective on the same
date. Pursuant to the contract, in consideration of his service to the Company
as an independent director, Dr. Tang will receive an annual fee of $40,000
in
cash and 13,021 shares of common stock of the Company. In addition, the Company
will reimburse Dr. Tang for business related travel, meal and other
miscellaneous expenses incurred in the performance of his duties for the
Company. Pursuant to the contract, the Company should indemnify, defend and
hold
harmless the director, to the full extent allowed by the law of the State of
Florida, and as provided by any charter provision. There has been no material
relationship between the Company or its affiliates and Dr. Tang other than
Dr.
Tang’s appointment as an independent director as described in Item 5.02 below
and this director’s contract. The director’s contract is filed as Exhibit
10.1
to this
report and is incorporated in this report in its entirety. The description
of the terms and conditions of the contract in this report is modified and
supplemented by such reference.
Item
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
On
October 9, 2007, the Board of Directors of the Company appointed Dr. C. Mark
Tang, age 43, to the Board of Directors as an independent director to fill
the
vacancy on the Board. Dr. Tang’s term as a director commences on October 9, 2007
and will continue until the next annual meeting of shareholders and until Dr.
Tang’s successor has been elected and qualified, or until his earlier
resignation or removal from office. Dr. Tang was also appointed to be a member
of the audit committee of the Company. Since 2002, Dr. Tang has been the founder
and CEO of World Tech Ventures, LLC. From 2004 to 2006, Dr. Tang was also a
director of Biotech Commercialization and Instructor at Rutgers University
Business School. None of the entities Dr. Tang was employed by is a parent,
subsidiary or otherwise an affiliate of the Company. Dr. Tang holds a Ph. D
degree in Biochemistry and Molecular Biology from University of California
at
Riverside and an MBA in Finance from Leonard N. Stern School of Business at
New
York University. Dr.
Tang
is not a director of any other public company. Other than the director’s
contract with the Company as described in Item 1.01 of this report, Dr. Tang
has
no arrangement or understanding with any person pursuant to which Dr. Tang
was
selected as a director, nor is Dr. Tang a party to any material plan, contract
or arrangement with the Company or its affiliates or otherwise has any material
or family relationship with the Company or its affiliates or officers.
Item
9 Financial Statements and Exhibits
| (d) |
Exhibits
The
exhibits listed in the following Exhibit Index are filed as part
of this
report.
|
| 10.1 |
Director’s
Contract, dated October 9, 2007, between the Company and C. Mark
Tang.
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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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PUDA
COAL, INC. |
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Date:
October 9, 2007
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By: |
/s/ Wenwei
Tian
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Wenwei
Tian
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Chief
Operating Officer
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