Intermolecular, Inc. (NASDAQ:IMI) 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 April 10, 2017, the Board of Directors (the “Board”) of Intermolecular, Inc. (the “Company”) approved a consulting letter agreement (the “Consulting Agreement”) with Dr. Bruce M. McWilliams, to which Dr. McWilliams will receive $10,000 a month for his service of at least 64 hours per calendar quarter (but not to exceed 32 hours per month, without prior mutual agreement) at the Company’s request to assist with the transition and various priority initiatives of the Company. Should Dr. McWilliams’ service as requested by the Company exceed 32 hours in any one month, he will receive an additional $300 per hour for each hour served in excess of such 32 hours. As previously disclosed, Dr. McWilliams will not receive any compensation (whether in the form of cash or equity) as non-executive Chairman for so long as he serves as a consultant to the Company. The Consulting Agreement will terminate on March 31, 2018, unless renewed by the parties or terminated earlier by either party upon 90 days prior written notice.
US-DOCS85467595.2
About Intermolecular, Inc. (NASDAQ:IMI)
Intermolecular, Inc. provides thin film solutions. The Company’s high productivity combinatorial (HPC) platform, which consists of its tempus processing tools, its automated characterization methods, and its Informatics analysis software, is purpose-built for research and development (R&D) using combinatorial process systems. It develops technology and Internet protocol (IP) rights focused on materials, processes, integration and device architectures in collaboration with its customers. Its HPC platform consists of tempus HPC processing, automated characterization and informatics and analysis software. The Company offers a series of wet processing tools and dry processing tools. Its informatics software includes workflow management software, analysis and reporting software, security and collaboration management software, and integration services. It caters to semiconductor device, semiconductor materials and equipment and clean energy market companies. Intermolecular, Inc. (NASDAQ:IMI) Recent Trading Information
Intermolecular, Inc. (NASDAQ:IMI) closed its last trading session down -0.010 at 0.800 with 17,633 shares trading hands.