CHEMBIO DIAGNOSTICS, INC. (NASDAQ:CEMI) Files An 8-K Entry into a Material Definitive Agreement

CHEMBIO DIAGNOSTICS, INC. (NASDAQ:CEMI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01

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Entry into a Material Definitive Agreement

On January 21, 2019, we entered into an amendment of our existing employment agreement with Neil A. Goldman, our Executive Vice President and Chief Financial Officer. The principal terms of the amendment are described in Item 5.02(c) below, which description is incorporated by reference into this Item 1.01.

Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(c)

On January 21, 2019, we entered into an amendment of our existing employment agreement with Neil A. Goldman, our Executive Vice President and Chief Financial Officer. The principal terms of the original employment agreement were summarized in a Current Report on Form 8-K that we filed with the Securities and Exchange Commission on December 20, 2018.

Our original employment agreement with Mr. Goldman extended for a term of one year. to the amendment, the employment agreement now continues through December 31, 2019. The term of the employment agreement will extend automatically for an additional calendar year as of each January 1 commencing January 1, 2020, unless we deliver, by no later than October 1 of the preceding year, a written notice that the term will not be extended.

The foregoing description of the amendment to Mr. Goldman’s employment agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the amendment, which is included as Exhibit 10.01 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01

Financial Statements and Exhibits.

Exhibit

Description

Amendment No. 1 dated January 21, 2019 between Chembio Diagnostics, Inc. and Neil A. Goldman, amending the Employment Agreement dated December 18, 2017

* Management contract or compensatory plan or arrangement.

CHEMBIO DIAGNOSTICS, INC. Exhibit
EX-10.01 2 ex10_01.htm EXHIBIT 10.01 Exhibit 10.01 AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT This Amendment No. 1 to Employment Agreement dated January 21,…
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About CHEMBIO DIAGNOSTICS, INC. (NASDAQ:CEMI)

Chembio Diagnostics, Inc. (Chembio), and its subsidiary, Chembio Diagnostic Systems, Inc., develop, manufacture, market and license rapid point-of-care diagnostic tests (POCTs) that detect infectious diseases. The Company’s products available are rapid tests for the detection of human immunodeficiency virus (HIV) 1/2 antibodies, and a multiplex rapid test for the detection of HIV and Syphilis antibodies. The HIV 1/2 rapid tests employ in-licensed and lateral flow technologies that are used with all blood matrices as samples, and are manufactured in a standard cassette format, a dipstick format and a barrel format. Its HIV 1/2 rapid antibody detection test incorporates the Dual Path Platform (DPP) POCT technology. The DPP HIV 1/2 Assay detects antibodies to HIV 1 and 2 in oral fluid samples, as well as in all blood matrices. The Company’s product pipeline includes a multiplex rapid test for earlier detection of HIV and a multiplex test that detects HIV and Syphilis specific antibodies.

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