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| ARTD.OB > SEC Filings for ARTD.OB > Form 8-K on 15-Jan-2009 | All Recent SEC Filings |
15-Jan-2009
Entry into a Material Definitive Agreement, Financial Statements and Exhibits
Effective January 13, 2009, each of Randy Saaf and Octavio Herrera (each, an "Executive") entered into separate amendments (collectively, the "Amendments") to their respective Employment, Confidentiality and Noncompetition Agreements (collectively, the "Employment Agreements") dated as of July 28, 2005 with MediaDefender, Inc., the Company's wholly owned subsidiary (the "Subsidiary"). Under each of the Amendments, commencing January 1, 2009 the term of employment between each Executive and the Subsidiary is now at-will, and either the Subsidiary or the Executive may terminate the applicable Employment Agreement upon five days' written notice, in which case such Executive shall have a period of 60 days from the effective date of termination to exercise all vested stock options.
(d) Exhibits.
Exhibit Number Title
10.1 Amendment No. 1 to Employment, Confidentiality and Noncompetition
Agreement dated as of December 23, 2008 between the Company and
Randy Saaf
10.2 Amendment No. 1 to Employment, Confidentiality and Noncompetition
Agreement dated as of December 23, 2008 between the Company and
Octavio Herrera
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