Greenwood Hall, Inc. (OTCMKTS:ELRN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On April 3, 2017, the Company entered into an Employment
Agreement with Timothy Boris (the Boris Employment Agreement) to
which Mr. Boris was appointed General Counsel and Chief Operating
Officer of the Company. The Boris Employment Agreement is for an
initial term of two years, subject to extension as provided
therein. Mr. Boris is to receive a base salary at an annual rate
of $240,000 with at least annual review and base salary increases
as approved by the Board of Directors. He will have the
opportunity to earn a bonus with respect to each year during his
employment based upon achievement of performance objectives set
by the Board of Directors with a target bonus opportunity up to
50% of base salary for each year. He will also receive an initial
grant of options to purchase 500,000 shares of restricted common
stock with an exercise price of $0.03 per share which will vest
over two years.
About Greenwood Hall, Inc. (OTCMKTS:ELRN)
Greenwood Hall, Inc. is an education management solutions provider that provides cloud-based education management services that address the entire student lifecycle. The Company provides end-to-end services ranging from recruitment and student enrollment to post-graduation job placement, career networking and alumni relations. The Company’s services include enrollment management solutions, including lead generation/marketing, prospective student qualification, new student recruitment and enrollment counseling; retention counseling/coaching and the reengagement of students having dropped out of a particular institution, and student support solutions, including help desk, career advising, student concierge and financial aid advising services. The Company also provides consulting services, various data and technology enabled solutions, and management services. As of November 30, 2016, the Company served more than 60 education clients and more than 75 individual degree programs. Greenwood Hall, Inc. (OTCMKTS:ELRN) Recent Trading Information
Greenwood Hall, Inc. (OTCMKTS:ELRN) closed its last trading session 00.0000 at 0.0300 with 1,000 shares trading hands.
