• SEC Filings

On August 31, 2017, Mark A. Lipparelli and Galaxy Gaming, Inc. (the “Company”) entered into a Board of Directors Services Agreement (the “Agreement”). to the Agreement, in exchange for serving as a member of the Company’s board of directors, Mr. Lipparelli will receive (i) monthly compensation of $7,500, and all customary and usual fringe benefits generally available to non-employee directors of the Company; and (ii) was granted 800,000 restricted shares of the Company’s common stock which shares vest as follows: (a) as to the first 200,000 shares, on August 31, 2017, (b) as to the next 200,000 shares, on January 2, 2018, and (c) as to the next 400,000 shares, on January 2, 2019, all to the terms of a Restricted Stock Grant Agreement between the Company and Mr. Lipparelli dated August 31, 2017.The shares were issued to Mr. Lipparelli to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and rules and regulations promulgated thereunder.

Our reliance upon Section 4(a)(2) of the Securities Act in granting the aforementioned shares of our common stock was based in part upon the following factors: (a) the issuance of the securities was in connection with an isolated private transaction which did not involve any public offering; (b) there was a single offeree; (c) there were no subsequent or contemporaneous public offerings of the securities by us; and (d) the negotiations for the issuance of the securities took place directly between the offeree and us.

This summary disclosure does not purport to list all of the provisions of the Agreement, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01Financial Statements and Exhibits

ExhibitDescription

99.1Board of Directors Services Agreement dated August 31, 2017

4824-3322-4782

Galaxy Gaming, Inc. Exhibit
EX-99.1 2 glxz-ex991_6.htm EX-99.1 glxz-ex991_6.htm Ex 99.1   BOARD OF DIRECTORS SERVICES AGREEMENT   THIS BOARD OF DIRECTORS SERVICES AGREEMENT (“Agreement”),…
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About GALAXY GAMING, INC. (OTCMKTS:GLXZ)

Galaxy Gaming, Inc. is engaged in the business of designing, developing, manufacturing and/or acquiring casino table games and associated technology, platforms and systems for the global gaming industry. The Company markets its products to land-based, riverboat and cruise ship gaming establishments and to Internet gaming companies. It groups its products into four product categories: Proprietary Table Games, Enhanced Table Systems, e-Tables and Ancillary Equipment. The Company has an installed base of its products on over 5,000 gaming tables located in over 600 casinos. The Company owns over 20 different table games, including 21+3, Two-way Hold’em and Three Card Poker, which are played in over 250 casinos. The Company’s Proprietary Table Games are grouped into two product types: Side Bets and Premium Games. Enhanced Table Systems are electronic enhancements used on casino table games to add to player appeal and to enhance game security.