LIBERATED SYNDICATION INC. (OTCMKTS:LSYN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
On December 28, 2017, Liberated Syndication Inc, a Nevada corporation (the “Company”) issued 700,000 of common shares to the VP of Operation, 200,000 shares to the VP of Sales and 50,000 to each of two employees of the Company. The awards were valued at $1.57 per share and vest in 25% tranches upon achieving the following milestones or the stock will be forfeited: 1) Up-list to NASDAQ within 24 months; 2) Average closing price of $5.00 per share for 10 consecutive days within 24 months; 3) Market cap of $50 Million for 5 consecutive days within 18 months: 4) Market cap of $75 Million for 5 consecutive days within 24 months.
The Stock Agreements of Messrs. Buretz, Kammerer, Walch and Ms. Sims are filed herewith as Exhibits 10.1, 10.2, 10.3, and 10.4, respectively, and are incorporated herein by reference. The foregoing descriptions of the Stock Agreements do not purport to be complete and are qualified in their entirety by reference to such exhibits.
Item 3.02. Unregistered Sales of Equity Securities.
The information set forth above in Item 1.01 is hereby incorporated into this Item 3.02 by reference.
Item 9.01
Financial Statements and Exhibits
(a)
Exhibits
Description
10.1
Stock Agreement of Gregory Buretz dated December 28, 2017*
10.2
Stock Agreement of Todd Kammerer dated December 28, 2017*
10.3
Stock Agreement of Robert Walch dated December 28, 2017*
10.4
Stock Agreement of Laurie Sims dated December 28, 2017*
* Indicates a management contract or compensatory plan or arrangement.
Liberated Syndication Inc. ExhibitEX-10 2 stockagreementgregb.htm STOCK AGREEMENT OF GREGORY BURETZ Stock Agreement Stock Agreement This Stock Agreement (the “Agreement”),…To view the full exhibit click here
About LIBERATED SYNDICATION INC. (OTCMKTS:LSYN)
Liberated Syndication Inc. is a podcast service provider offering hosting and distribution tools. The Company offers basic plans, as well as advanced plans that include storage, advanced statistics and podcast applications. Its hosting plans include unlimited downloads, media hosting-audio and video, own Webpage for the show, an iTunes compatible rich site summary (RSS) feed for the podcast, HTML5 video and audio player, single click multiple destination publishing with OnPublish and Network Application Listing. Its advanced hosting plans also include custom mobile application offering, advanced statistics package and MyLibsyn subscription management service. Its LibsynPRO service is an enterprise solution for professional media producers and corporate customers. The Libsyn4 product offering is a podcast hosting and distribution service, which includes storage, bandwidth, RSS creation, distribution and statistics tracking.
