Employment Arrangement Summary for John H. Malanga as Chief Financial Officer
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Summary
This agreement outlines the employment terms for John H. Malanga as Chief Financial Officer, effective July 28, 2014. Mr. Malanga will receive an annual salary of $300,000 and a one-time sign-on bonus, which includes $20,000 in cash and 2,500,000 shares of restricted stock. The restricted stock will vest in two equal installments over two years, starting July 28, 2015. The employment is at-will and was established verbally.
EX-10.1 2 ex10-1.htm EMPLOYMENT ARRANGEMENT ex10-1.htm
Exhibit 10.1
Summary of John H. Malanga
Employment Arrangement
Effective July 28, 2014, we entered into a verbal at-will employment arrangement with John H. Malanga, our chief financial officer, pursuant to which he is paid an annual salary of $300,000. Mr. Malanga is also entitled to a one-time sign-on bonus, consisting of (i) $20,000 payable in cash and (ii) 2,500,000 shares of restricted stock, vesting in two equal annual installments beginning on July 28, 2015.
