eGAIN CORPORATION (NASDAQ:EGAN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August14, 2017, Todd Woodstra, 55, accepted appointment as the Company’s Senior Vice President, Global Sales.
Mr.Woodstra is a seasoned SaaS sales veteran with 25years of enterprise sales experience, operationalizing high-performance go-to-market strategies. Mr.Woodstra has served as Vice President of Global Channel and Partner Alliances for Nuance Communications, where he managed and executed business in channels and commercial enterprise, self-service, mobile, collaboration, unified communications, natural language speech recognition, voice biometrics, gesture technologies, inbound/outbound notification and voice-to-text transcription. Thereafter, Mr.Woodstra became the Senior Vice President of Enterprise Sales for Interactions LLC, where he led enterprise customer sales focused on virtual assistant solutions.
The terms of Mr.Woodstra’s offer letter, dated July12, 2017 (the “Offer Letter”), provide for, among other things: (i)a one-time signing bonus of $3,000; (ii)an annual base salary of $200,000; and (iii)an option to purchase 80,000 shares of the Company’s common stock at an exercise price equal to the fair market value of the Common Stock on the date of grant approval, which shall be exercisable at the rate of ¼ of the shares oneyear from approval and 1/48th of the shares eachmonth thereafter, subject to Mr.Woodstra’s continued employment with the Company.
to the Offer Letter, Mr.Woodstra will also be eligible to receive additional annual target variable pay compensation of $200,000, based on a plan to be agreed to between the Company and Mr.Woodstra within thirty (30)days from Mr.Woodstra’s start date of employment.
Additionally, Mr.Woodstra will be eligible to participate in the benefit programs generally available to employees of the Company.
The above summary of the Offer Letter is qualified in its entirety by reference to the Offer Letter.
A copy of the press release relating to Mr.Woodstra’s appointment is filed as Exhibit99.1 to this Form8‑K.
Item 5.02. Financial Statements and Exhibits
(d) Exhibits
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EXHIBITNO. |
DESCRIPTION |
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99.1 |
Press release, dated August17, 2017, of eGain Corporation |