ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

Effective with the adjournment of the Board of Directors meeting held via teleconference on Monday, July 28, 2008, MIPSolutions, Inc.'s Board of Directors approved Dr. Rocky Arnold as President and CEO effective September 1, 2008 contingent upon his acceptance of the final terms of an Employment Agreement to be drafted during the month of August 2008 and other conditions set by the Compensation Committee. Upon mutual acceptance of the Employment Agreement between the Company and Dr. Arnold, Jeff Lamberson has agreed to immediately tender his resignation as President of MIPSolutions, Inc.