ENERGOUS CORPORATION (NASDAQ:WATT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 9.01 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 10, 2018, Energous Corporation (“Energous” or “Company”) entered into a Service Continuation Agreement (“Service Continuation Agreement”) with Michael Leabman, a member of the Company’s Board of Directors and its Chief Technology Officer. Under the Service Continuation Agreement, Mr. Leabman’s employment relationship with the Company terminates on January 11, 2018, and he agreed to serve as an independent contractor for the Company for a two-year period, commencing immediately upon his termination. Mr. Leabman also agreed not to stand for re-election to the Company’s board of directors at the 2018 annual meeting of stockholders, which agreement was not due to any disagreement relating to the Company’s operations, policies or practices. Under the Service Continuation Agreement, Mr. Leabman will be compensated at the rate of $16,190.10 per month, receive 12 months COBRA benefits at the Company’s expense, and continue to vest in his outstanding equity awards until the end of his service period. Mr. Leabman agreed to non-competition and non-solicitation covenants, provided a release to the Company, and agreed to vote his shares of Company stock as recommended by the Company’s board of directors.
The foregoing description of the Service Continuation Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the agreement, a copy of which is filed as an exhibit to this report.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits.
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Energous Corp ExhibitEX-99.1 2 tv483139_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Service Continuation Agreement This Service Continuation Agreement (this “Agreement”) is entered into as of January 11,…To view the full exhibit click here
About ENERGOUS CORPORATION (NASDAQ:WATT)
Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control. The Company’s business model is to supply silicon components with reference designs and license its WattUp technology to device and chip manufacturers, wireless service providers and other commercial partners to make wire-free charging an option for end users. Its technology can be utilized in a range of devices, including wearables, Internet of Things (IoT) devices, smartphones, tablets, e-book readers, keyboards, mice, remote controls, rechargeable lights, cylindrical batteries and any other device with similar charging requirements that would otherwise need a battery or a connection to a power outlet.