Pershing Gold Corporation (NASDAQ:PGLC) 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

On January 29, 2018, Debra Struhsacker notified Pershing Gold Corporation (the “Company”) that she intended to resign as Senior Vice President of the Company, effective January 31, 2018. Ms. Struhsacker is one of the Company’s named executive officers.

Simultaneously with Ms. Struhsacker’s resignation, the Company and Ms. Struhsacker entered into a Consulting Agreement effective February 1, 2018 (the “Consulting Agreement”). to the Consulting Agreement, Ms. Struhsacker will be paid a retainer fee of $15,000 per month for 60 hours of consulting services per month relating to the Company’s Relief Canyon Mine project and other exploration and mining projects. In addition, Ms. Struhsacker will be paid an hourly rate of $250 per hour for professional time required in excess of 60 hours per month. Ms. Struhsacker will be paid performance bonuses of up to an aggregate of $300,000 in cash and stock options upon the achievement of certain performance milestones relating to Phase II of the Company’s Relief Canyon Mine project and government relations activities.

This summary of the Consulting Agreement is not complete and is qualified in its entirety by reference to the full text of the agreement that is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

(d)The following are filed as exhibits to this report on Form 8-K.

Pershing Gold Corp. Exhibit
EX-10.1 2 tv484660_ex10-1.htm EXHIBIT 10.1   Exhibit 10.1   CONSULTING SERVICES AGREEMENT BETWEEN   DEBRA W. STRUHSACKER and PERSHING GOLD CORPORATION   1. PARTIES TO AGREEMENT   This agreement is made effective as of February 1,…
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About Pershing Gold Corporation (NASDAQ:PGLC)

Pershing Gold Corporation is a gold and precious metals exploration company. The Company focuses on exploration, development and mining opportunities in Nevada. The Company is focused on exploration at its Relief Canyon properties in Pershing County in northwestern Nevada. The Company operates its business directly and also through its subsidiary, Gold Acquisition Corp. Gold Acquisition Corp. owns and is engaged in conducting exploration on the Relief Canyon Mine property in northwestern Nevada. The Company is engaged in conducting exploration on the Relief Canyon expansion properties. The Relief Canyon Mine includes approximately three open pit mines, heap leach pads consisting of approximately six cells, approximately two solution ponds and a cement block constructed adsorption desorption-recovery (ADR) solution processing circuit. The Pershing Pass property includes approximately 490 lode mining claims. The Company has not generated any revenues.