FIRST CHOICE HEALTHCARE SOLUTIONS, INC. (OTCMKTS:FCHS) 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 Officer; Compensatory Arrangements of Certain Officers.
(b) On December 28, 2018, the Company’s Board of Directors notified Chris Romandetti, Sr., the Company’s President and CEO who has been on administrative leave since November 15, 2018, of the termination, effective December 28, 2018, of his March 20, 2014 Employment Agreement with the Company and his employment thereunder for Cause, as defined thereunder, due to material, gross and willful misconduct in connection with his employment duties under the Employment Agreement demonstrated by his actions that provided a basis for a grand jury indictment against him and a Securities and Exchange Commission lawsuit against him.
Mr. Romandetti will only receive accrued but unpaid compensation and vacation pay through the December 28, 2018 date of termination of his Employment Agreement. All options, whether or not vested, held by Mr. Romandetti will immediately expire and all shares of restricted stock for which restrictions have not lapsed will be forfeited effective as of the December 28, 2018 date of termination.
About FIRST CHOICE HEALTHCARE SOLUTIONS, INC. (OTCMKTS:FCHS)
First Choice Healthcare Solutions, Inc. is focused on building a network of localized, integrated healthcare systems, which consists of non-physician-owned medical centers of excellence. The medical centers of excellence concentrate on treating patients in various specialties, including Orthopedics, Spine Surgery, Neurology, Interventional Pain Management, and related diagnostic and ancillary services in markets throughout the Southeastern United States. The Company operates in healthcare services and real estate segments through its subsidiaries. It utilizes advanced diagnostic technologies coupled with the individualized care, including trigger point injections and pharmacological, physical, neurological, orthopedic, chiropractic and massage therapy treatments. First Choice Medical Group of Brevard, LLC’s leases commercial office space to tenants. Marina Towers, LLC has leased back the Marina Towers via a 10-year absolute triple-net master lease agreement.