Lapolla Industries, Inc. (OTCMKTS:LPAD) 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.
second amendment to that certain Executive Employment Agreement,
effective January 1, 2014, as amended, with Douglas J. Kramer,
CEO and President, which extends his Employment Term for an
additional one (1) year from December 31, 2016 to December 31,
2017 (the Second Kramer Amendment).
in its entirety by reference to the full text of the Second
Kramer Amendment which is attached to this Current Report on Form
8-K as Exhibit 10.1.
first amendment to that certain Executive Employment Agreement,
effective January 1, 2015, with Jomarc C. Marukot, CFO and
Treasurer, which: (a) extends his Employment Term for an
additional one (1) year from December 31, 2016 to December 31,
2017; and (b) provides for an annual base salary increase,
effective January 1, 2017, from $190,000 to $210,000 (the Marukot
Amendment).
its entirety by reference to the full text of the Marukot
Amendment which is attached to this Current Report on Form 8-K as
Exhibit 10.2.
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Exhibit Number
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Description
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10.1*
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Second Amendment to Executive Employment Agreement
dated December 30, 2016, between Douglas J. Kramer and Lapolla Industries, Inc. |
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10.2*
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First Amendment to Executive Employment Agreement dated
December 30, 2016, between Jomarc C. Marukot and Lapolla Industries, Inc. |
About Lapolla Industries, Inc. (OTCMKTS:LPAD)
Lapolla Industries, Inc. (Lapolla) is a manufacturer and distributor of foam, coatings and equipment. The Company is focused on developing and commercializing foams and coatings focused at commercial and industrial, and residential applications in the insulation and construction industries. The Company operates through two segments, which include Foams and Coatings. The Foam segment involves producing and in limited instances applying through subcontractors, building envelope insulation foam for interior application and roofing systems. The Coatings segment involves producing protective elastomeric coatings and primers. Both segments include supplying equipment and related ancillary items used in application of the Company’s products. Lapolla provides open and closed cell spray polyurethane foams for insulation, as well as closed cell technology for roofing applications. Lapolla provides a roof coating system for application over new and existing roof substrates. Lapolla Industries, Inc. (OTCMKTS:LPAD) Recent Trading Information
Lapolla Industries, Inc. (OTCMKTS:LPAD) closed its last trading session 00.000 at 0.520 with shares trading hands.