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| IFIT > SEC Filings for IFIT > Form 8-K on 4-Oct-2012 | All Recent SEC Filings |
4-Oct-2012
Change in Directors or Principal Officers, Submission of Matters to a Vote of Secur
2012 Employee Equity Incentive Plan
On September 28, 2012, iSatori, Inc.'s (the "Corporation") majority shareholder approved the 2012 Employee Equity Incentive Plan (the "2012 Plan"). The 2012 Plan is intended to promote the success of the Corporation and to increase stockholder value by providing an additional means through the grant of awards to attract, motivate, retain and reward selected employees and other eligible persons. Directors, employees and consultants of the Corporation are eligible to participate under the 2012 Plan. The maximum number of shares of common stock that may be delivered pursuant to awards under the 2012 Plan shall not exceed 500,000 shares of common stock.
The 2012 Plan will terminate no later than September 27, 2022.
The 2012 Plan permits the award of the following types of awards: (i) stock
options (including incentive stock options), (ii) stock appreciation rights, and
(iii) other stock based awards, such as stock bonuses, restricted stock,
performance stock, stock units, phantom stock, dividend equivalents, or similar
rights to purchase or acquire shares.
The foregoing description of the 2012 Plan is qualified in its entirety by reference to the full text of the 2012 Plan, a copy of which is filed as Exhibit 10.1 hereto and incorporated by reference herein.
On September 28, 2012, the holder of a majority of the outstanding shares of the Company's issued and outstanding common stock signed a written consent approving the Company's 2012 Plan under which 500,000 shares of the Company's common stock are reserved for issuance thereunder. In accordance with Rule 14c-2 under the Securities Exchange Act of 1934, as amended, the approval of the 2012 Plan will become effective no earlier than 20 calendar days after an information statement is sent or given to the holders of record of the Company's common stock.
(d) Exhibits
Number Exhibit
10.1 2012 Employee Equity Incentive Plan.
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