Business Context and Reporting Period
This Form 8-K Current Report was filed by Travelzoo on October 24, 2018. The filing discloses the entry into a material definitive agreement regarding interim executive leadership.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. It is a disclosure of a specific contractual agreement rather than a periodic financial report.
Material Changes
The primary material change is the appointment of an interim Chief Financial Officer. On October 24, 2018, Travelzoo entered into a Consulting Agreement with Agnitio Partners LLC to engage Mr. Wayne Lee for interim CFO services effective October 27, 2018.
Guidance, Outlook, and Management Commentary
The filing contains no forward-looking guidance, outlook, or general management commentary regarding business performance. The agreement terms specify:
- Compensation: A consulting fee of $2,200 per working day.
- Deliverables: A payment of $10,000 upon completion of certain deliverables on December 1, 2018.
- Term: The agreement is for a duration of six months.
Important Facts for Investor Verification
- Mr. Wayne Lee is providing interim CFO services starting October 27, 2018.
- The engagement is structured as a six-month consulting agreement with Agnitio Partners LLC.
- Compensation includes a daily rate and a specific milestone payment due December 1, 2018.
- The full text of the agreement is attached as Exhibit 10.1.