APOLLO MEDICAL HOLDINGS, INC. (OTCMKTS:AMEH) 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.
Compensatory Arrangements of Certain Officers
On December 20, 2016, Apollo Medical Management, Inc. (AMM), a
wholly-owned subsidiary of Apollo Medical Holdings, Inc. (the
Company), entered into new Employment Agreements with Warren
Hosseinion, M.D., Adrian Vazquez, M.D., Gary Augusta and Mihir
Shah. The new Employment Agreements were approved by the
Compensation Committee of the Board of Directors of the Company
and replace the employment agreements previously extended to Dr.
Hosseinion and Dr. Vazquez on March 28, 2014, as amended on
January 12, 2016 and as amended and restated on June 29, 2016,
and to Mr. Shah on July 21, 2016. The Employment Agreements
entitle Dr. Hosseinion, Mr. Shah and Dr. Vazquez to continue
their current base salary, offer Mr. Augusta a base salary of
$300,000 and revise certain term, bonus and severance
arrangements as provided therein.
Each of the new Employment Agreements has an initial term of
three years with automatic annual renewals and entitles the
executive to twenty business days of paid time off per calendar
year. Accrued and unused paid time off shall be paid in cash at
the end of each calendar year. Under the new Employment
Agreements, each executive is eligible to receive an annual bonus
and is granted certain vesting rights and Accrued Benefits (as
such term is defined in the Employment Agreement) if the
executives employment is terminated without Cause (as such term
is defined in the Employment Agreement) or if the executive
resigns with Good Reason (as such term is defined in the
Employment Agreement) during the employment term.
Copies of the Employment Agreements are attached hereto as
Exhibits 99.1 (Gary Augusta), 99.2 (Warren Hosseinion, M.D.),
99.3 (Mihir Shah) and 99.4 (Adrian Vazquez, M.D.) to this Form
8-K and are incorporated herein by reference. Terms used herein
but not otherwise defined have the definitions as used in the
Employment Agreements attached hereto. The foregoing description
does not purport to be complete and is subject to and qualified
in its entirety by reference to the attached Employment
Agreements.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description |
99.1 |
Employment Agreement dated December 20, 2016 between Apollo Medical Management, Inc. and Gary Augusta |
99.2 |
Employment Agreement dated December 20, 2016 between Apollo Medical Management, Inc. and Warren Hosseinion, M.D. |
99.3 |
Employment Agreement dated December 20, 2016 between Apollo Medical Management, Inc. and Mihir Shah |
99.4 |
Employment Agreement dated December 20, 2016 between Apollo Medical Management, Inc. and Adrian Vazquez, M.D. |
About APOLLO MEDICAL HOLDINGS, INC. (OTCMKTS:AMEH)
Apollo Medical Holdings, Inc. is a patient-centered, physician-centric integrated population health management company working to provide coordinated, outcomes-based medical care. The Company operates in healthcare delivery segment. Its operations include Hospitalists, which include its contracted physicians focusing on the delivery of medical care to hospitalized patients; an accountable care organization (ACO), which focuses on providing care to Medicare fee-for-service patients; an independent practice association (IPA), which contracts with physicians and provides care to Medicare, Medicaid, commercial and dual-eligible patients on a risk- and value-based fee basis; approximately three clinics, which it owns or operates, and which provide specialty care in the greater Los Angeles area, and Palliative care, home health and hospice services, which include its at-home and end-of-life services. APOLLO MEDICAL HOLDINGS, INC. (OTCMKTS:AMEH) Recent Trading Information
APOLLO MEDICAL HOLDINGS, INC. (OTCMKTS:AMEH) closed its last trading session up +2.30 at 7.25 with 17,866 shares trading hands.