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MGT > SEC Filings for MGT > Form 8-K on 23-Nov-2012All Recent SEC Filings

Show all filings for MGT CAPITAL INVESTMENTS INC

Form 8-K for MGT CAPITAL INVESTMENTS INC


23-Nov-2012

Change in Directors or Principal Officers, Financial Statements and E


ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On November 19, 2012, the Company entered into an employment agreement with Robert Ladd, to act as its CEO and President (which is attached as Exhibit 10.1 hereto).The agreement provides for a two year term, subject to automatic renewals. The agreement provides for a base salary of $285,000 per year. Pursuant to the agreement, the Company also granted Mr. Ladd 50,000 shares of unregistered common stock. The agreement also contains non-compete and change of control provisions.

On November 19,2012, the Company entered into an employment agreement with Robert P. Traversa to act as its Treasurer and Chief Financial Officer (which is attached hereto as exhibit 10.2 hereto). The agreement provides for a two year term, subject to automatic renewals. The agreement provides for a base salary of $275,000 per year. Pursuant to the agreement, the Company also granted Mr. Traversa 50,000 shares of unregistered common stock. The agreement also contains non-compete and change of control provisions.



ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

The following exhibits are furnished herewith:

Exhibit No. Description

10.1        Employment Agreement dated November 19, 2012 by and between the
            Company and Robert Ladd.

10.2         Employment Agreement dated November 19, 2012 by and between the
            Company and Robert P. Traversa.

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