OptimizeRx Corporation (OTCMKTS:OPRX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
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 |
On February 12, 2016, Mr. Febbo and our company entered into an Offer Letter of Employment (“Offer Letter”).
On February 1, 2018, we amended (the “Amended Offer Letter”) the Offer Letter as follows:
| 1) | Mr. Febbo shall continue serving as our Chief Executive Officer; |
| 2) | Effective January 1, 2018, Mr. Febbo’s base salary will increase to $275,000.00 annually, and will increase to $300,000 effective January 1, 2019; |
| 3) | The option granted to Mr. Febbo to purchase 1,500,000 shares of common stock, which originally vested in 20% increments annually on each of the grant; first, second, third, fourth, and fifth anniversaries of the original grant date, has been modified to vest the increment originally vesting on the fifth anniversary to vest on the second anniversary; |
| 4) | We granted to Mr. Febbo 240,000 performance-based restricted stock units (RSUs). The RSUs will fully vest and in a number based on our revenue performance goals; and |
| 5) | We agreed to pay all premiums for a term life insurance policy for Mr. Febbo with a policy benefit amount of $4,000,000. |
The foregoing description of the Amended Offer Letter is qualified in its entirety by reference to the full text of the Amended Offer Letter, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
SECTION 9 – Financial Statements and Exhibits
| Item 9.01 | Financial Statements and Exhibits |
| Exhibit No. | Description |
| 10.1 | Amended Offer Letter, dated February 1, 2018 |
OptimizeRx Corp ExhibitEX-10.1 2 f8k020218ex10-1_optimizerx.htm AMENDED OFFER LETTER,…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.
