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ZAGG > SEC Filings for ZAGG > Form 8-K on 9-Aug-2013All Recent SEC Filings

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Form 8-K for ZAGG INC


Change in Directors or Principal Officers

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensation Arrangements of Certain Officers.

Appointment of New Chief Operating Officer

On August 5, 2013, Jason J. Schwartz accepted an offer (the "Offer") from ZAGG Inc (the "Registrant") to serve as the Registrant's Chief Operating Officer. The Registrant and Mr. Schwartz entered into an employment agreement (the "Agreement") which specified certain terms of his employment with the Registrant. Mr. Schwartz had not previously been employed by the Registrant.

Pursuant to the Agreement, Mr. Schwartz will receive an annual base salary of $225,000, and was granted the fair market equivalent of $225,000 in shares of the Registrant's restricted common stock which will vest on each of the following dates: 33.3% on January 1, 2014, 33.3% on April 1, 2014, and 33.3% on July 1, 2014. Also pursuant to the Agreement, Mr. Schwartz will be eligible to receive an annual incentive bonus in an amount not to exceed Sixty-Seven Thousand, Five Hundred Dollars ($67,500) under the ZAGG Management Performance Bonus Plan. He is also entitled to receive benefits and moving expenses, all as specified in the Agreement.

A copy of the Agreement is attached hereto as an exhibit. The foregoing summary of the terms and conditions of the Agreement, does not purport to be complete, and is qualified in its entirety by reference to the full text of the Agreement attached as an exhibit hereto.

Prior to joining the Registrant, Mr. Schwartz worked with Sanyo North America, from 2007 through 2012, as COO and CEO of the Sanyo Logistics Corporation, where he operated the division as a growth-oriented, standalone company; and provided enhanced visibility of supply chain management and logistics activities for Sanyo North America's subsidiaries.

Mr. Schwartz, 38, received a Bachelors of Science in Accounting from SUNY Buffalo in 1997, and a Masters of Business Administration from the Kellogg School of Management, Northwestern University, in 2013. He does not have any family relationships with any of the officers or directors of the Registrant. He does not have any related party transactions.

Item 9.01        Financial Statements and Exhibits.

Exhibit No.                Description

99.1           Employment Letter Agreement

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