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| ARTD.OB > SEC Filings for ARTD.OB > Form 8-K on 11-Mar-2009 | All Recent SEC Filings |
11-Mar-2009
Entry into a Material Definitive Agreement, Financial Statements and Exhibits
Effective March 6, 2008, the Company and Rene Rousselet ("Executive") entered into an Employment Agreement pursuant to which Executive was employed to continue as the Company's Corporate Controller and Principal Accounting Officer. The employment is on an "at will basis." Effective February 1, 2009, Executive will receive a salary of $14, 583 per month subject to increases and a bonus as determined by the Board of Directors, in its sole discretion. Executive was granted options to purchase 560,000 shares of the Common Stock of the Company at $0.03 per share vesting monthly over 36 months commencing February 1, 2009. If Executive's employment is terminated without cause, Executive will receive his salary and vesting of options for an additional period of three months from the date of termination.
(d) Exhibits
10.1 Employment Agreement dates as of February 1, 2009 between Executive and the Company.
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