OptimizeRx Corporation (OTCMKTS:OPRX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
Entry into a Material Definitive Agreement
The information provided in Item 5.02 concerning the entry into a material definitive agreement is incorporated by reference in this Item 1.01.
SECTION 5 – Corporate Governance and Management
| Item 5.02 | Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers |
Effective August 1, 2017, we have appointed Ms. Miriam Paramore as our President.
Ms. Paramore, age 54, has vast experience with healthcare companies, running businesses from start-ups to large divisions of public and private companies. Her early career was spent Ernst & Young, as a Healthcare Management Consultant. She has since occupied executive level and director positions at several healthcare companies. Most recently, from April 2016 to April 2017, Ms. Paramore served as COO and CTO of Lucro, Inc., a privately held company in| Nashville, Tennessee focused on the healthcare sector. From March 2015 to February 2016, she served as Executive Vice President of PDX a privately held company in Fort Worth, Texas that provides health information technology for pharmacies. From May 2008 to December 2013, she served as Executive Vice President of Emdeon, Inc. in Nashville, Tennessee, a health information technology and tech-enabled services company.
Aside from that provided above, Ms. Paramore does not hold and has not held over the past five years any other directorships in any company with a class of securities registered to Section 12 of the Exchange Act or subject to the requirements of Section 15(d) of the Exchange Act or any company registered as an investment company under the Investment Company Act of 1940.
There are no family relationships between Ms. Paramore and any of our directors or executive officers.
Aside from the following, Ms. Paramore has not had any material direct or indirect interest in any of our transactions or proposed transactions over the last two years.
Prior to her appointment as President, Ms. Paramore had been consulting with our company through her company, Last Mile Health, LLC.
On July 10, 2017, we entered into an agreement with Ms. Paramore to act as President of our company. to the agreement, Ms. Paramore will receive an annual base salary of $220,000 and she will be eligible for a bonus of up to 40% of her base salary based on our executive bonus plan.
In addition, we also agreed to recommend to the Board of Directors that our company grant to Ms. Paramore an option under our 2013 Incentive Plan to purchase 500,000 shares of our common stock with an exercise price at fair market value per share on the date of grant.
The options will be subject to vesting and other terms as set forth in the 2013 Incentive Plan, Stock Option Grant Notice and Stock Option Agreement.
The agreement further provides that if Ms. Paramore’s employment with us is involuntarily terminated without cause, Ms. Paramore will be entitled to receive a severance payment of six months of her applicable base pay, provided that she has served for a period of six months beforehand. Once she has served 12 months, she will be entitled to receive a severance payment of twelve months of salary.
The agreement contains a Business Protection Agreement that contains restrictive covenants that include a non-compete both during her employment and for a period of one year thereafter, and an inventions assignment clause both during her employment and for a period of six months thereafter. The agreement also contains a confidentiality provision.
The foregoing description of the agreement is qualified in its entirety by reference to the full text of the agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
SECTION 8 – Other Events
On July 31, 2017, we issued a press release concerning the appointment of Ms. Paramore to the new position of President of our company. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The information in Item 8.01 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
SECTION 9 – Financial Statements and Exhibits
| Item 9.01 | Financial Statements and Exhibits |
OptimizeRx Corp Exhibit
EX-10.1 2 f8k073117ex10i_optimizerx.htm EMPLOYMENT AGREEMENT,…
To view the full exhibit click here
About OptimizeRx Corporation (OTCMKTS:OPRX)
OptimizeRx Corporation is a technology solutions company. The Company focuses on the healthcare industry. The Company connects patients, physicians and pharmaceutical manufacturers through technology. The Company’s solutions provide pharmaceutical manufacturers a direct to physician channel for communicating and promoting products. It provides healthcare providers a means to provide sampling and coupons without having to physically store samples on site. The Company’s principal products and applications include SampleMD, OPTIMIZEHR and OPTIMIZERx.com. SampleMD is a virtual Patient Support Center. OPTIMIZEHR is a consulting practice focused on educating and working with pharmaceutical manufacturers on identifying, formulating and implementing new electronic prescribing (eRx) media strategies for promoting their products. OPTIMIZERx.com is a portal to healthcare savings for patients to centrally review and participate in prescription and healthcare savings and support programs.
