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| CDXC > SEC Filings for CDXC > Form 8-K on 12-Jun-2012 | All Recent SEC Filings |
12-Jun-2012
Change in Directors or Principal Officers, Regulation FD Disclosure, Financial St
On June 11, 2012, Frank Jaksch, our Chief Scientific Officer, was appointed as our Chief Executive Officer and President and Jeffrey Himmel voluntarily resigned from the foregoing positions as well as from our board of directors.
On June 11, 2012, we entered into the Separation and Release Agreement with Mr. Himmel, a copy of which is appended hereto as Exhibit 10.1. Mr. Himmel will be entitled to a lump sum payment of approximately $285,000. In connection with Mr. Himmel's resignation, a trust of which he is the trustee agreed to sell 1,333,333 shares of our common stock to certain of our stockholders. The foregoing description does not purport to be complete and is qualified in its entirety by reference to Exhibit 10.1 annexed hereto and is incorporated herein by reference.
On June 11, 2012, Debra Heim voluntarily resigned as our Chief Operating Officer and the President of our Consumer Products Division. On June 11, 2012, we entered into the Separation and Release Agreement with Ms. Heim, a copy of which is appended hereto as Exhibit 10.2. Ms. Heim will be entitled to a lump sum payment of approximately $76,000. The foregoing description does not purport to be complete and is qualified in its entirety by reference to Exhibit 10.2 annexed hereto and is incorporated herein by reference.
On June 12, 2012, we issued a press release announcing that we had appointed Mr. Jaksch as our Chief Executive Officer and President as well as the resignations of Mr. Himmel and Ms. Heim. A copy of the press release is appended hereto as Exhibit 99.1 and is incorporated herein by reference.
The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any registration statement or other document pursuant to the Securities Act, except as expressly set forth in such filing.
(d) Exhibits. Exhibit No. Description 10.1 Separation and Release Agreement with Jeffrey Himmel 10.2 Separation and Release Agreement with Debra Heim 99.1 Press Release |
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