DATARAM CORPORATION (NASDAQ:DRAM) 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 February 7, 2017, Dataram Corporation, a Nevada corporation
(the Company) entered into an agreement (the Agreement) with
Anthony M. Lougee, effective as of February 16, 2017 (the
Effective Date),providing for the continuation of his role as the
Chief Financial Officer of the Company through the consummation
of the previously announced acquisition of US Gold Corp. (USG)
and for a certain period thereafter. to the Agreement, on the
Effective Date, Mr. Lougee will continue to serve as the Companys
Chief Financial Officer until the earlier of (i) Mr. Lougee
terminates his employment with the Company, (ii) six months after
the consummation of the Merger or (iii) the date the Company
retains another individual to serve as the Chief Financial
Officer of the Company. Upon the Company retaining a new
individual to serve as Chief Financial Officer of the Company, it
is expected Mr. Lougee will continue as the Chief Financial
Officer of the Dataram Division of the post- merger Company,
reporting into the President of the Dataram Division.
to the Agreement and in consideration for his services to the
Company, Mr. Lougee will receive an additional monthly cash
payment of $2,500 and a monthly equity award of 2,000 restricted
shares of common stock. The terms of the Agreement do not change
either Mr. Lougees current annual base salary of $144,000 or his
eligibility for a 100% annual performance bonus to his current
employment terms. The terms of the agreement will not supersede
or otherwise modify the terms of that certain Change in Control
Severance Agreement between the Executive and the Company dated
as of July 31, 2015.
The Agreement is filed as Exhibit 10.1 to this Current Report on
Form 8-K. The summary description of the Agreement provided above
is incomplete and reference is made to the form of Agreement
filed herewith.
Section 9 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
| (d) Exhibits. | |
| Exhibit No. | Description |
| 10.1 |
Incentive Agreement between the Dataram Corporationand Anthony Lougee, dated February 7, 2017 |
About DATARAM CORPORATION (NASDAQ:DRAM)
Dataram Corporation (Dataram) is an independent manufacturer of memory products and provider of performance solutions. The Company provides customized memory solutions for original equipment manufacturers (OEMs) and compatible memory for various brands, as well as a line of memory products for Intel and AMD motherboard based servers. Its business lines include Dataram/Princeton Memory, Micro Memory Bank (MMB), MemoryStore.com and 18004Memory.com. The Dataram/Princeton Memory Business provides memory products that support enterprise/mission critical need; custom memory solutions for various customers ranging from enterprise and data center segments to power users and gamers, and solutions to extend the density memory options available to customers. MMB provides new and refurbished memory products. 18004Memory.com Web property provides a source for new and refurbished memory products. The Memorystore.com Web property provides a source for Dataram Value Memory products. DATARAM CORPORATION (NASDAQ:DRAM) Recent Trading Information
DATARAM CORPORATION (NASDAQ:DRAM) closed its last trading session down -0.10 at 1.56 with 1,175,672 shares trading hands.