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Quotes & Info
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| TNAV > SEC Filings for TNAV > Form 8-K on 21-Jun-2012 | All Recent SEC Filings |
21-Jun-2012
Change in Directors or Principal Officers, Financial Statements and Exhibits
(e) On June 15, 2012, Douglas Miller resigned as the chief financial officer and treasurer of TeleNav, Inc. (the "Company") and has agreed to provide consulting services to the Company under a Consulting Agreement (the "Agreement") that is effective as of June 16, 2012 (the "Effective Date"). The term of the Agreement began on the Effective Date and will end on December 15, 2012, unless terminated by either party upon seven (7) days' prior notice. The Agreement provides that Mr. Miller will be available for up to twenty (20) hours per month during the term of the Agreement; however, upon mutual agreement between the parties, Mr. Miller may be available for additional hours. Under the Agreement, Mr. Miller will receive a monthly consulting fee equal to $10,000 per month and an additional $500 for every hour that he provides services over the twenty hours (20) per month. Additionally, the Agreement provides that any unvested equity awards held by Mr. Miller ceased vesting and terminated upon the Effective Date. Mr. Miller's vested options shall continue to be outstanding pursuant to the terms of the option agreements.
The foregoing summary of the Agreement is qualified in its entirety by reference to the full text of the Agreement referenced as Exhibit 10.24 hereto and incorporated by reference herein.
(d) Exhibits
Exhibit
Number Description
10.24* Consulting Agreement effective June 16, 2012 between TeleNav, Inc. and
Douglas Miller
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* To be filed with the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2012
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