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PRLS > SEC Filings for PRLS > Form 8-K on 13-Nov-2012All Recent SEC Filings

Show all filings for PEERLESS SYSTEMS CORP



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

On November 7, 2012, the Company engaged Yi Tsai as consultant to perform the duties of its principal financial officer. Mr. Tsai, 56 years old, has extensive experience in private equity, venture capital, and financial accounting. Under the terms of Mr. Tsai's consulting agreement with the Company, his current engagement will continue through December 17, 2012 and the consulting fees payable to him for such period are expected to total approximately $14,000. After such date, the Company and Mr. Tsai may agree to extend the term of his consulting period or Mr. Tsai may become an employee of the Company.

Mr. Tsai has served as Executive Director at Nexos Capital Partners, a private equity firm, since August 2005, and will continue to work part-time at Nexos during his current engagement with the Company. From April to December 2011, Mr. Tsai also served as Senior Financial Advisor to C-Quest Capital. Between 1992 and 2003, Mr. Tsai held senior positions at a number of private equity and venture capital funds. Mr. Tsai began his career in public accounting, working as an auditor at Deloitte & Touche and Bell & Company, before joining Colgate-Palmolive Company as a corporate auditor. He holds a B.S. in Accounting from National Taipei University and an M.B.A. from Case Western Reserve University.

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