  The general analysis of the differential cross section and various
polarization observables is performed for the process $e^+ + e^- \to N + \bar N
+\pi^0 $ assuming that the annihilation occurs through the exchange of one
virtual photon. The dependence of the differential distributions over invariant
variables is derived for the reaction $e^+ + e^- \to N + \bar N +\pi^0 $ in the
so-called non-resonant mechanism, applying the conservation of the hadron
electromagnetic currents and the P-invariance of the hadron electromagnetic
interaction. The detection in an exclusive experimental set up where the
nucleon (or antinucleon) and pion are detected in coincidence is considered. A
number of single and double differential distributions have been calculated
analytically and numerical estimates are given for the $p\bar p\pi^0$ and
$n\bar n\pi^0$ channels, in the Born (non-resonant) approximation, in the
energy range from threshold up to $s=16$ GeV$^2$.
