AROTECH CORPORATION (NASDAQ:ARTX) Files An 8-K Entry into a Material Definitive Agreement
Item 5.02
Entry into a Material Definitive Agreement.
On December 20, 2018, the Company and its Vice President – Finance and Chief Financial Officer, Ms. Kelli L. Kellar, entered into a new employment agreement (the “Agreement”) on substantially similar terms to those of her current agreement. Under the terms of the Agreement, Ms. Kellar is entitled to receive a base salary of $225,000 per annum, and will be eligible for a bonus with a target, if earned, equal to between 20% and 40% of her base salary. The actual bonus payout shall be determined based upon achievement by the Company of financial performance levels for 2019 set by the Company’s Board of Directors. Ms. Kellar’s employment under the Agreement is on an at-will basis, with either party having the right to terminate the agreement at any time on 45 days’ written advance notice.
The foregoing description of the Employment Agreement is qualified in its entirety by the terms of the Employment Agreement, which is filed herewith as Exhibit 10.1 and incorporated herein by reference
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Item 5.02 |
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers. |
On December 20, 2018, the Company and its Vice President – Finance and Chief Financial Officer, Ms. Kelli L. Kellar, entered into a new employment agreement (the “Agreement”) on substantially similar terms to those of her current agreement. The material terms of the Agreement are described under Item 5.02 above and incorporated by reference into this Item 5.02.
Item 5.02Financial Statements and Exhibits.
As described above, the following Exhibits are furnished as part of this Current Report on Form 8-K:
AROTECH CORP Exhibit
EX-10.1 2 arotech8k20181220kellarn.htm EXHIBIT 10.1 arotech8k20181220kellarn AMENDED AND RESTATED EMPLOYMENT AGREEMENT THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT is signed on the 10th day of December,…
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About AROTECH CORPORATION (NASDAQ:ARTX)
Arotech Corporation is a defense and security products and services company, engaged in providing interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military, commercial and medical markets. The Company operates through two segments: Training and Simulation Division, and Power Systems Division. The Company’s Training and Simulation Division develops, manufactures and markets multimedia and interactive digital solutions for engineering, use-of-force training and operator training of military, law enforcement, security, emergency services and other personnel. The Company’s Power Systems Division provides battery solutions, energy management and power distribution technologies and product design and manufacturing services for the aerospace, defense, law enforcement, homeland security markets, and it manufactures and sells rechargeable batteries for defense and security products and medical and industrial applications.