Akoustis Technologies, Inc. (OTCMKTS:AKTS) 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
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Departure of Director or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
As previously reported in its Current Report on Form 8-K, filed
with the Securities and Exchange Commission on May 18, 2017, the
current employment agreements by and between Akoustis
Technologies, Inc. (the Company) and each of David M. Aichele,
the Companys Vice President of Business Development, and Mark D.
Boomgarden, the Companys Vice President of Operations (each an
Executive), will expire on June 15, 2017. Effective June 16,
2017, each Executive will continue in his current position with
the Company to the terms of his respective offer letter. The
offer letters provide that each Executive will receive an annual
base salary of $141,080; will be eligible to receive a cash bonus
of up to 50% of his respective base salary if certain
operational, financial, or other milestones are met; and will
also be eligible to participate in any other bonus or incentive
program established by the Company for its senior executives,
including the Companys 2016 Stock Incentive Plan. Each Executives
offer letter also includes a 12-month non-solicitation period
with respect to the Companys customers and employees and provides
that the Executives employment with the Company shall be at will.
The foregoing description of the offer letters is qualified in
its entirety by reference to each Executives offer letter. Copies
of Mr. Aicheles offer letter, executed May 26, 2017, and Mr.
Boomgardens offer letter, executed May 27, 2017, are attached
hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and
incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits:
| Exhibit No. | Description | |
| 10.1 |
Offer Letter from Akoustis Technologies, Inc. to David M. Aichele |
|
| 10.2 |
Offer Letter from Akoustis Technologies, Inc. to Mark D. Boomgarden |
About Akoustis Technologies, Inc. (OTCMKTS:AKTS)
Akoustis Technologies, Inc., formerly Danlax, Corp., is a fabless company engaged in developing, designing and manufacturing radio frequency (RF) filter products for the mobile wireless device industry. The Company operates in the telecommunications and fiber optics sector. The Company is focused on commercializing and manufacturing its Bulk ONE acoustic wave technology to address the critical frequency-selectivity requirements in mobile smartphones. The Company plans to use single crystal piezoelectric materials to develop a class of RF filters with a fundamental advantage to reduce losses over existing thin film technologies. The Company’s piezoelectric materials contain high-purity Group III element nitride materials and possess a signature, which can be detected by conventional material metrology tools. The Company is focused on the commercialization of bandwidth RF filters operating in the high frequency portion of the RF Front end (RFFE) (called high band). Akoustis Technologies, Inc. (OTCMKTS:AKTS) Recent Trading Information
Akoustis Technologies, Inc. (OTCMKTS:AKTS) closed its last trading session down -0.16 at 9.89 with shares trading hands.
