diff --git a/README.md b/README.md
index bab62354dd..8679781623 100644
--- a/README.md
+++ b/README.md
@@ -50,8 +50,13 @@ To build for standalone use in the browser, install `browserify` and check [run-
     - [`vm.runCode(opts, cb)`](#vmruncodeopts-cb)
     - [`vm.generateCanonicalGenesis(cb)`](#vmgeneratecanonicalgenesiscb)
     - [`vm.generateGenesis(cb)`](#vmgenerategenesiscb)
-  - [`VM` debugging hooks](#vm-debugging-hooks)
-    - [`vm.onStep`](#vmonstep)
+  - [`VM` Events](#events)
+    - [`step`](#step)
+    - [`newContract`](#newcontract)
+    - [`beforeBlock`](#beforeblock)
+    - [`afterBlock`](#afterblock)
+    - [`beforeTx`](#beforetx)
+    - [`afterTx`](#aftertx)
 
 ### `new VM([opts])`
 Creates a new VM object
@@ -140,7 +145,7 @@ vm.generateGenesis(genesisData, function(){
 ```
 
 ### `events`
-All events are instances of [async-eventemmiter](https://www.npmjs.com/package/async-eventemitter). If an event handler has an arity of 2 the VM will pause until the callback is called
+All events are instances of [async-eventemmiter](https://www.npmjs.com/package/async-eventemitter). If an event handler has an arity of 2 the VM will pause until the callback is called, otherwise the VM will treat the event handler as a synchronous function.
 
 #### `step`
 The `step` event is given an `Object` and callback. The `Object` has the following properties.
@@ -155,6 +160,11 @@ The `step` event is given an `Object` and callback. The `Object` has the followi
 - `memory` - the memory of the VM as a `buffer`
 - `cache` - The account cache. Contains all the accounts loaded from the trie. It is an instance of [functional red black tree](https://www.npmjs.com/package/functional-red-black-tree)
 
+#### `newContract`
+The `newContract` event is given an `Object` and callback. The `Object` has the following properties.
+- `address`: The created address for the new contract (type `Buffer | Uint8Array`)
+- `code`: The deployment bytecode for reference (type `Buffer | Uint8Array`)
+
 #### `beforeBlock`
 Emits the block that is about to be processed.
 
diff --git a/lib/runCall.js b/lib/runCall.js
index b1ca92bcfc..1b77f78145 100644
--- a/lib/runCall.js
+++ b/lib/runCall.js
@@ -75,11 +75,26 @@ module.exports = function (opts, cb) {
           done(err)
         }
 
-        stateManager.getAccount(createdAddress, function (err, account) {
-          toAccount = account
-          toAccount.nonce = new BN(1).toArrayLike(Buffer)
-          done(err)
-        })
+        async.series([
+          newContractEvent,
+          getAccount
+        ], done)
+
+        function newContractEvent (callback) {
+          self.emit('newContract', {
+            address: createdAddress,
+            code: code
+          }, callback)
+        }
+
+        function getAccount (callback) {
+          stateManager.getAccount(createdAddress, function (err, account) {
+            toAccount = account
+            const NONCE_OFFSET = 1
+            toAccount.nonce = new BN(toAccount.nonce).addn(NONCE_OFFSET).toArrayLike(Buffer)
+            callback(err)
+          })
+        }
       })
     } else {
       // else load the `to` account