EQUUS TOTAL RETURN, INC. (NYSE:EQS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On April 7, 2017, Equus Total Return, Inc. (Equus or the Company)
amended that certain consulting agreement (Consulting Agreement)
entered into effective June 1, 2010, with John Hardy, the
Companys Chief Executive Officer. To date Mr. Hardy has waived an
aggregate of approximately $2.2 million in bonus compensation to
which he was entitled thereunder. The amendment, effective April
1, 2017, increases Mr. Hardys base annual consulting fee from
$200,000 to $350,000, but eliminates all bonus and incentive
payments that could be earned by Mr. Hardy in connection with the
Consulting Agreement. The amendment further provides that, if the
Consulting Agreement is terminated without cause or the Company
experiences a change in control, as defined therein, Mr. Hardy
will be entitled to receive a severance fee of $400,000. Mr.
Hardy is not entitled to participate in any employee-related
benefits, including health, life and disability plans, of the
Company.
About EQUUS TOTAL RETURN, INC. (NYSE:EQS)
Equus Total Return, Inc. (the Fund) is a closed-end management investment company. The Fund is a business development company whose investment objective is to maximize the total return to its stockholders in the form of current investment income and long-term capital gains by investing in the debt and equity securities of small and middle market capitalization companies that are generally not publicly traded at the time of its investment. In addition, it may invest with other co-investors, including private equity firms, business development companies, small business investment companies, venture capital groups, institutional investors and individual investors. It invests in a range of sectors, including energy, media, business products and services, shipping products and services, financial services and others. The Fund’s investments in portfolio securities consist of fixed-rate debt securities, limited liability company investments, common stock, and secured and subordinated debt. EQUUS TOTAL RETURN, INC. (NYSE:EQS) Recent Trading Information
EQUUS TOTAL RETURN, INC. (NYSE:EQS) closed its last trading session down -0.01 at 2.46 with 4,741 shares trading hands.
