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Quotes & Info
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| INFU > SEC Filings for INFU > Form 8-K on 10-Oct-2012 | All Recent SEC Filings |
10-Oct-2012
Change in Directors or Principal Officers
(a) Not applicable.
(b) Not applicable.
(c) As previously disclosed by InfuSystem Holdings, Inc. (the "Company") in its Current Report on Form 8-K (the "8-K") filed April 24, 2012, the Board of Directors of the Company (the "Board") appointed Dilip Singh to the position of Interim Chief Executive Officer and President of the Company, effective April 24, 2012. In connection therewith, the Company entered into an Employment Agreement with Mr. Singh as filed as Exhibit 10.4 to the 8-K (the "Singh Employment Agreement"), which provided for an initial employment term of six months
On October 4, 2012, upon the recommendation of the Compensation Committee and approval by the Board, the Company and Mr. Singh entered into, effective October 24, 2012 (the "Effective Date"), an amended and restated employment agreement (the "First Amendment") with the Company which amends the Singh Employment Agreement in the following ways (all capitalized terms used but not defined herein shall have the meaning set forth in the First Amendment): (i) the Term of the First Amendment is extended on a month to month basis up to a period of four (4) months with a salary equal to $300,000 per annum from the Effective Date; (ii) Mr. Singh is eligible for a performance bonus up to approximately $167,000, at the discretion of the Board of Directors; and (iii) in the case of certain events, the Company shall pay to Mr. Singh a lump sum of $375,000.
Other than as described above, the material terms of the Consulting Agreement with Mr. Singh as previously disclosed by the Company have not been revised. The foregoing description of the First Amendment is qualified in its entirety by the copy of such agreement filed as Exhibit 10.1 to this Form 8-K and incorporated by reference herein.
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