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Share Name | Share Symbol | Market | Type |
---|---|---|---|
American Mold Guard (MM) | NASDAQ:AMGI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0431 | 0 | 01:00:00 |
California
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74-3077656
|
|
(State or other jurisdiction of
|
(IRS Employer
|
|
incorporation)
|
Identification No.)
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Information to be included in the report
Pursuant to the Separation Agreement, the Company will pay for Mr. Blakeley's health, vision and dental insurance premiums for 12 months in the aggregate. Further, all outstanding stock options, stock appreciation rights, stock purchase rights, restricted stock rights and any similar rights held by Mr. Blakeley that are fully vested and exercisable on the date of his separation from the Company (the "Separation Date") may be exercised by Mr. Blakeley within twelve (12) months after the Separation Date. Any and all stock options, stock appreciation rights, stock purchase rights, restricted stock rights and any similar rights held by Mr. Blakeley that are not fully vested and exercisable on the Separation Date shall be terminated and canceled.
Mr. Blakeley will provide consulting services to the Company for a period of 12 months following the Separation Date. Mr. Blakeley will be entitled to a consulting fee payable in a single lump sum payment within five days of the date of the Separation Agreement.
A copy of the Separation Agreement is attached hereto as Exhibit 10.1.
In addition, Mr. Blakeley was able to earn discretionary bonuses, including participation in the Company's Annual Reward Plan, and to participate in the Company's incentive compensation and fringe benefit programs, including a car allowance.
Under the Employment Agreement, in the event the Company terminated Mr. Blakeley's employment for any reason other than death, disability or "justifiable cause" (defined to include any willful breach by Mr. Blakeley of his duties under the agreement or his conviction of any crime involving our property or any crime constituting a felony), Mr. Blakeley would have beeen entitled to a severance payment equal to 24 months of his then current monthly base salary plus target bonus as in effect on the last day of his employment and reimbursement for the cost of maintaining his medical and dental insurance for 24 months. In the event of a termination in connection with a "change in control" or by Mr. Blakeley for "good reason" (defined to include a relocation more than 30 miles from Irvine, California and a material reduction of Mr. Blakeley's base salary, duties or authority), Mr. Blakeley would have been entitled to a lump sum payment equal to his unpaid, annualized base salary for the remainder of the year in which the termination occured and a lump sum payment equal to three times the highest annual compensation (salary plus bonus) for any of the three calendar years immediately preceding the date of his termination.
1 Year American Mold Guard (MM) Chart
1 Month American Mold Guard (MM) Chart
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