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HRT > SEC Filings for HRT > Form 8-K on 11-Apr-2013All Recent SEC Filings

Show all filings for ARRHYTHMIA RESEARCH TECHNOLOGY INC /DE/ | Request a Trial to NEW EDGAR Online Pro



Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c) On April 9, 2013, Arrhythmia Research Technology, Inc. (the "Company") issued a press release announcing the appointment of Salvatore Emma, Jr. as its President and Chief Executive Officer. A copy of the press release is attached as Exhibit 99.1 to this report and incorporated herein by reference.

(e) The Company entered into an employment agreement dated April 7, 2013 (the "Employment Agreement") with Salvatore Emma, Jr. Pursuant to the Employment Agreement, Mr. Emma will be employed as President and Chief Executive Officer of the Company and its wholly owned subsidiary, Micron Products, Inc., commencing as of April 1, 2013 until December 31, 2013 unless earlier terminated pursuant to the terms of the Employment Agreement. During the term of the agreement, Mr. Emma will be entitled to a base salary at the annualized rate of $225,000 and will be eligible for a discretionary performance bonus pursuant to specific criteria to be mutually agreed upon by the parties. Pursuant to a separate Grant Agreement, Mr. Emma received options to purchase 15,000 shares of common stock of the Company under the Company's 2010 Equity Incentive Plan, which options vest annually in five equal installments over a five year period. Pursuant to the Employment Agreement, Mr. Emma may be terminated for "cause" as defined. Under the Employment Agreement Mr. Emma is subject to confidentiality, non-compete and non-solicitation restrictions. Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description
99.01 Press Release dated April 9, 2013.

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