Excel Corporation (OTCMKTS:EXCC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Excel Corporation (OTCMKTS:EXCC) 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.

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On August 10, 2017, in accordance with the bylaws of Excel Corporation (the “Company”), the Board of Directors (the “Board”) of the Company voted to increase the size of the Board by one seat and appointed Mr. David Shweky to the Board to fill a vacancy on the Board resulting from such increase in the size of the Board. Mr. Shweky will serve for a term that commences immediately and expires at the 2017 annual meeting of stockholders, or until his earlier resignation or removal. Mr. Shweky was also appointed to serve as a member of the Company’s newly formed (a) Search Committee of the Board, (b) Indemnification Committee of the Board, (c) Acquisition Committee of the Board, and (d) Finance Committee of the Board.

There are no related party transactions involving Mr. Shweky that are reportable under Item 404(a) of Regulation S-K. There is no arrangement or understanding between Mr. Shweky and any other person to which Mr. Shweky was selected as a director. There are no family relationships among any of the Company’s directors, executive officers and Mr. Shweky. There are no material plans, contracts or arrangements to which Mr. Shweky is a party or in which he participates nor has there been any material amendment to any plan, contract or arrangement by virtue of Mr. Shweky’s appointment. Mr. Shweky is a current stockholder of the Company.

The following is certain biographical information regarding Mr. Shweky:

David Shweky, 69, is a Managing Member of Aspen Entities, LLC, an employment benefits insurance firm he founded in October 2012. From January 2010 to November 2012, he served as a Managing Member of SHK SPL, LLC, an insurance and employee benefits firm. Prior to then, he ran Merit Enterprises, LLC, a real estate firm, for approximately ten years and, prior to then, was a principal of Davos Enterprises, a promotional product firm involving products such as bags, watches and mugs, which advertised the names of Fortune 500 firms, for over twenty years. Since 1997, Mr. Shweky has also served in a voluntary position as the president of Yeshivat Or HaTorah, a boys high school in Brooklyn, New York.

Among other experiences, qualifications, attributes and skills, Mr. Shweky’s leadership and business experience led to the conclusion of the Board that he is qualified to serve as a director of the Company.

On August 10, 2017, the Board set September 28, 2017 as the date for the Company’s 2017 Annual Meeting of Stockholders (the “Annual Meeting”). The Board has also set the close of business on September 7, 2017 as the record date for determining stockholders entitled to receive notice of and to vote at the Annual Meeting.


About Excel Corporation (OTCMKTS:EXCC)

Excel Corporation sells integrated financial and transaction processing services to small and medium sized businesses throughout the United States. The Company provides these services through its subsidiary, eVance Processing Inc. (eVance). Through its eVance subsidiary, the Company provides an integrated suite of third-party merchant payment processing services and related proprietary software enabling products that deliver credit and debit card-based Internet payments processing solutions to small and mid-sized merchants operating in physical brick and mortar business environments, on the Internet and in retail settings requiring both wired and wireless mobile payment solutions. It also operates as a wholesale Independent Sales Organization (ISO), generating individual merchant processing contracts in exchange for future residual payments.

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