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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of The</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
August 22, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LUXEYARD, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-bottom: black 1pt solid; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; font-weight: bold; text-align: center">333-168066</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; border-bottom: black 1pt solid; font-weight: bold; text-align: center">30-0473898</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">incorporation)</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 66%; vertical-align: bottom; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>8884 Venice Boulevard</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Los Angeles, CA</B></P></TD>
    <TD STYLE="width: 1%; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 33%; vertical-align: bottom; border-bottom: black 1pt solid; font-weight: bold; text-align: center">90034</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%; text-align: center">Registrant&rsquo;s telephone number, including area code:<B> (323) 488-3574</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 24%; vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 52%; vertical-align: top; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">N/A</P></TD>
    <TD STYLE="width: 24%; vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">(Former name or former address, if changed since last report)</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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
(<U> see</U> General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d
-2(b))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e
-4(c))</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 66%; text-align: center">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 1.01</B></TD><TD><B>Entry into a Material Definitive Agreement.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On August 22, 2012, Luxeyard, Inc. (the &ldquo;Company&rdquo;)
and Mr. Steve Beauregard mutually agreed upon the termination of Mr. Beauregard&rsquo;s employment as Chief Operating Officer effective
retroactively to August 17, 2012 . The Board of Directors of the Company approved the termination on August 22, 2012. There was
no disagreement between Mr. Beauregard and the Company on any matter relating to the Company&rsquo;s operations, policies (including
accounting or financial policies) or practices that resulted in his termination as the Chief Operating Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Severance Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the termination of Steve Beauregard as our
Chief Operating Officer, we entered into a severance agreement (&ldquo;Separation and Release Agreement&rdquo;) with Mr. Beauregard,
dated August 22, 2012, to be retroactively effective August 17, 2012 (&ldquo;Termination Date&rdquo;), pursuant to which we agreed
to pay to Mr. Beauregard any unpaid salary, unreimbursed expenses, and a severance payment. The severance payment equals to 80%
of Mr. Beauregard&rsquo;s base salary and is payable in 26 installments of $5,384.62 for a sum of $140,000 and a one month continuation
of his health, dental, and vision benefits. In addition, Mr. Beauregard&rsquo;s stock options in the amount of 1,950,000 shares
previously granted under his employment will vest immediately as of the Termination Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0">&nbsp;</TD>
    <TD STYLE="width: 1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5.02</B></P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>(a)</B></TD><TD STYLE="text-align: justify"><B>Resignation of Officer</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information contained in Item 1.01 above is incorporated
herein by reference in response to this Item 5.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing descriptions of the severance agreement is qualified
in its entirety by reference to the provisions of the Separation and Release Agreement filed as Exhibit 10.1 to this Report, which
is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>(b)</B></TD><TD><B>Appointment of Officer</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On August 24, 2012. our Board of Directors appointed Jerry Wilkerson
as Chief Operating Officer of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A brief description of the background and
business experience of Mr. Wilkerson is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Jerry Wilkerson</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Chief Operating Officer, age 40</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Jerry Wilkerson</I></B> was appointed Chief Operating
Officer on August 24, 2012. Prior to this position Mr. Wilkerson was our Chief Technology and Information Officer, since November
8, 2011.&nbsp;&nbsp;Mr. Wilkerson has also served as Chief Technical &amp; Information Officer of our subsidiary, LY Retail-Texas,
since September 2011. Since 2002 he has also owned his own retail ecommerce business.&nbsp;&nbsp;Mr. Wilkerson brings us a wealth
of knowledge and experiences in the web development and information technology sector and has more than ten years experience in
retail technology.&nbsp; Throughout his career, Mr. Wilkerson has been involved in various technology position and retail management
along with familiarity with several ecommerce platforms.&nbsp;&nbsp;Mr. Wilkerson has extensive Microsoft training along with in
depth information technology training.&nbsp;&nbsp;He has over twenty years&rsquo; experience in programming, focusing on web design,
since 1999.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Family Relationships</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There are no family relationships between
our directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Transactions with Related Persons</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 8, 2012, the Company entered into a management agreement
with Home Loft, Inc. to manage its LeatherGroups (LG) web site. Home Loft is owned by Mr. Wilkerson. Pursuant to the agreement,
the Company paid a $50,000 deposit to Home Loft which is reported as other asset in the consolidated balance sheet. In exchange,
the Company receives and recognizes all revenues for all products sold in the website as well as the related cost of goods sold
since it bears the risk and rewards related to these sales. During the six months ended June 30, 2012, the Company recorded $75,394
of sales and $24,369 of cost of goods sold in connection with this agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 8.01</B></TD><TD><B>OTHER EVENTS</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We issued a press release on August 24,
2012 regarding the appointment of Jerry Wilkerson as our new Chief Operating Officer. A copy of the press release is attached hereto
as Exhibit 99.1 and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 9.01</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; font-size: 10pt; font-weight: bold">Exhibit</TD>
    <TD STYLE="width: 84%; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; font-weight: bold"><U>Number</U></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold"><U>Description</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">10.1</TD>
    <TD STYLE="font-size: 10pt">Severance Agreement, dated August 22, 2012, by and between Steve Beauregard and LY Retail, LLC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">99.1</TD>
    <TD STYLE="font-size: 10pt">Press Release dated August 24, 2012.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Dated: August 24, 2012&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: justify">LUXEYARD, INC.</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 50%; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; font-style: italic">/s/ Braden Richter</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;Braden Richter</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;President and Chief Executive Officer</TD></TR>
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[{"type": "8-K", "sequence": "1", "filename": "v322297_8-k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 24849}]
{"company-data": {"conformed-name": "Luxeyard, Inc.", "cik": "0001493587", "assigned-sic": "7389", "irs-number": "300473898", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-168066", "film-number": "121054039"}, "business-address": {"street1": "4063 GLENCOE AVE.", "street2": "SUITE A", "city": "MARINA DEL REY,", "state": "CA", "zip": "90292", "phone": "(323)-488-3574"}, "mail-address": {"street1": "4063 GLENCOE AVE.", "street2": "SUITE A", "city": "MARINA DEL REY,", "state": "CA", "zip": "90292"}, "former-company": {"former-conformed-name": "TOP GEAR INC", "date-changed": "20100607"}}
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):
August 22, 2012
LUXEYARD, INC.
(Exact name of registrant as specified in
its charter)
Delaware
333-168066
30-0473898
(State or other jurisdiction of
(Commission File Number)
(IRS Employer Identification No.)
incorporation)
8884 Venice Boulevard
Los Angeles, CA
90034
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(323) 488-3574
N/A
(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):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d
-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e
-4(c))
Item 1.01
Entry into a Material Definitive Agreement.
On August 22, 2012, Luxeyard, Inc. (the "Company")
and Mr. Steve Beauregard mutually agreed upon the termination of Mr. Beauregard's employment as Chief Operating Officer effective
retroactively to August 17, 2012 . The Board of Directors of the Company approved the termination on August 22, 2012. There was
no disagreement between Mr. Beauregard and the Company on any matter relating to the Company's operations, policies (including
accounting or financial policies) or practices that resulted in his termination as the Chief Operating Officer.
Severance Agreement
In connection with the termination of Steve Beauregard as our
Chief Operating Officer, we entered into a severance agreement ("Separation and Release Agreement") with Mr. Beauregard,
dated August 22, 2012, to be retroactively effective August 17, 2012 ("Termination Date"), pursuant to which we agreed
to pay to Mr. Beauregard any unpaid salary, unreimbursed expenses, and a severance payment. The severance payment equals to 80%
of Mr. Beauregard's base salary and is payable in 26 installments of $5,384.62 for a sum of $140,000 and a one month continuation
of his health, dental, and vision benefits. In addition, Mr. Beauregard's stock options in the amount of 1,950,000 shares
previously granted under his employment will vest immediately as of the Termination Date.
Item 5.02
Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(a)
Resignation of Officer
The information contained in Item 1.01 above is incorporated
herein by reference in response to this Item 5.02.
The foregoing descriptions of the severance agreement is qualified
in its entirety by reference to the provisions of the Separation and Release Agreement filed as Exhibit 10.1 to this Report, which
is incorporated by reference herein.
(b)
Appointment of Officer
On August 24, 2012. our Board of Directors appointed Jerry Wilkerson
as Chief Operating Officer of the Company.
A brief description of the background and
business experience of Mr. Wilkerson is as follows:
Jerry Wilkerson
Chief Operating Officer, age 40
Jerry Wilkerson
was appointed Chief Operating
Officer on August 24, 2012. Prior to this position Mr. Wilkerson was our Chief Technology and Information Officer, since November
8, 2011.  Mr. Wilkerson has also served as Chief Technical & Information Officer of our subsidiary, LY Retail-Texas,
since September 2011. Since 2002 he has also owned his own retail ecommerce business.  Mr. Wilkerson brings us a wealth
of knowledge and experiences in the web development and information technology sector and has more than ten years experience in
retail technology.  Throughout his career, Mr. Wilkerson has been involved in various technology position and retail management
along with familiarity with several ecommerce platforms.  Mr. Wilkerson has extensive Microsoft training along with in
depth information technology training.  He has over twenty years' experience in programming, focusing on web design,
since 1999.
Family Relationships
There are no family relationships between
our directors and officers.
Transactions with Related Persons
On May 8, 2012, the Company entered into a management agreement
with Home Loft, Inc. to manage its LeatherGroups (LG) web site. Home Loft is owned by Mr. Wilkerson. Pursuant to the agreement,
the Company paid a $50,000 deposit to Home Loft which is reported as other asset in the consolidated balance sheet. In exchange,
the Company receives and recognizes all revenues for all products sold in the website as well as the related cost of goods sold
since it bears the risk and rewards related to these sales. During the six months ended June 30, 2012, the Company recorded $75,394
of sales and $24,369 of cost of goods sold in connection with this agreement.
2
ITEM 8.01
OTHER EVENTS
We issued a press release on August 24,
2012 regarding the appointment of Jerry Wilkerson as our new Chief Operating Officer. A copy of the press release is attached hereto
as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01
Financial Statements and Exhibits.
Exhibit
Number
Description
10.1
Severance Agreement, dated August 22, 2012, by and between Steve Beauregard and LY Retail, LLC.
99.1
Press Release dated August 24, 2012.
3
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.
Dated: August 24, 2012
LUXEYARD, INC.
By:
/s/ Braden Richter
Braden Richter
President and Chief Executive Officer
4