MetaStat, Inc. (OTCMKTS:MTST) 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.
Employment Agreement with Douglas A. Hamilton, President and Chief Executive Officer:
Effective October 31, 2017, MetaStat, Inc. (the “Company”) entered into a new employment agreement (the “Employment Agreement”) with Douglas A. Hamilton to serve as the Company’s President and Chief Executive Officer for a term of two years. Mr. Hamilton had been serving as the Company’s President and Chief Executive Officer without an employment agreement since the expiration of his previous employment agreement on June 17, 2017. The Employment Agreement provides for a base salary of $260,000 and an annual milestone bonus equal to 150% of Mr. Hamilton’s compensation thereunder, based on his attainment of certain financial, clinical development, and/or business milestones to be established annually by the Company’s board of directors or compensation committee.The Employment Agreement is terminable by either party at any time. In the event of termination by the Company without cause or by Mr. Hamilton for good reason not in connection with a change of control, as those terms are defined in the Employment Agreement, he is entitled to six months’ severance. In the event of termination by the Company without cause or by Mr. Hamilton for good reason in connection with a change of control, as those terms are defined in the Employment Agreement, he is entitled to twelve months’ severance. The Employment Agreement contains standard confidential and proprietary information, and one-year non-competition and non-solicitation provisions.
The Employment Agreement of Mr. Hamilton is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01.
Financial Statements and Exhibits.
(d)Exhibits:
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No. |
Description |
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Employment Agreement dated October 31, 2017 by and between the Company and Douglas A. Hamilton |
MetaStat, Inc. ExhibitEX-10.1 2 ex10-1.htm EMPLOYMENT AGREEMENT DATED OCTOBER 31,…To view the full exhibit click here
About MetaStat, Inc. (OTCMKTS:MTST)
MetaStat, Inc. is a pre-commercial molecular diagnostic company focused on the development and commercialization of diagnostics to provide oncologists and patients with clinically actionable information regarding the risk of systemic metastasis and adjuvant chemotherapy treatment decisions. The Company’s platform technologies are based on the identification of a pathway for the development of metastatic disease in epithelial-based solid tumors. It is developing two driver-based diagnostic product lines: MetaSite Breast and MenaCalc. Its MetaSite Breast and MenaCalc diagnostic product candidates are designed for patients based on their individual risk of metastasis. The MetaSite Breast test is applicable for early stage invasive breast cancer patients. The MenaCalc platform is a tissue-based quantitative immunofluorescence (QIF) assay applicable to a range of epithelial-based cancers, including breast, lung, colorectal and prostate.
