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ALTI > SEC Filings for ALTI > Form 8-K on 30-Aug-2013All Recent SEC Filings




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

Appointment of Mr. Richard W. Lee as Chief Executive Officer

On August 26, 2013, the Board of Directors of Altair Nanotechnologies Inc. (the "Company") appointed Mr. Richard W. Lee as Chief Executive Officer of the Company.

Mr. R Lee, age 73, most recently served as managing director of DCM Management Consulting Ltd., a Hong Kong-based consulting firm advising with respect to sales, business and credit reports. While at DCM, Mr. R Lee acted as Senior Advisor to Zhuhai Yintong Group with respect to electric powertrain and lithium battery sales. Prior to joining DCM in 2010, Mr. R Lee was vice president of GreenWheel EV Ltd./Thunder Sky Energy Group, a company engaged in the sales and marketing of electric vehicles and lithium batteries from 2007 to 2010, and vice chairman/managing director of CNT BioEnergy Ltd., a company engaged in the research and development of biofuels in China from 2001 to 2007. Mr. R Lee served as chief executive officer of First Oriental Ltd., a company engaged in China trade business from 1996 to 2001, and chief executive officer of Gilman Engineering Ltd., an engineering contracting business from 1990 to 1995. Mr. R Lee has earned a Diploma in Production Engineering from Hong Kong Polytechnic University, an Advanced Diploma in Industrial Engineering from South Bank University, London, UK, a Diploma in Management Studies from Westminster University, London, UK, and an MBA from Cranfield University, Bedford, UK. Diplomas are the result of one-year graduate programs and were common in the United Kingdom before the1970s.

The Company is in the process of negotiating an employment agreement with Mr. R Lee.

Termination of Employment of Mr. Alex Lee

On August 26, 2013, Mr. Alex Lee resigned as Chief Executive Officer of the Company. Subject to his execution of a release in form and substance acceptable to the Company and certain other limitations, the Company has agreed to provide to Mr. A Lee a severance benefit equal to the payment of his base monthly salary of $27,083 for a period of 2.8 months and reimbursement of the portion of the cost currently paid by the Company with respect to any election to extend existing health benefits under COBRA for a period of up to 18 months.

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