PETROGRESS, INC. (OTCMKTS:PGAS) 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
On May 9, 2018, Petrogress, Inc. (“the Company”) entered into an Amendment No. 2 to Employment Agreement (the “Employment Agreement”) with Christos Traios, President and Chief Executive Officer of the Company, to which the parties agreed to reduce Mr. Traios’ base salary to $5,000 per month.
Item 9.01 — Financial Statements and Exhibits
(d)Exhibits.
* Filed herewith.
** Signifies a management agreement.
Petrogress, Inc. ExhibitEX-10.3 2 ex_113713.htm EXHIBIT 10.3 ex_113713.htm Exhibit 10.3 AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT This Amendment No. 2 to Employment Agreement dated effective as of May 9,…To view the full exhibit click here
About PETROGRESS, INC. (OTCMKTS:PGAS)
Petrogress, Inc., formerly 800 Commerce, Inc., is a holding company. The Company, along with its subsidiaries, is engaged in international trading and shipping business. The Company is engaged in exploring the potential for acquiring or purchasing or leasing newly built liquefied natural gas (LNG) vessels in the United States to be used for the supply and sea freight of the United States LNG exports. The Company’s subsidiary, Petrogres Co. Ltd. (Petrogres), operates as an oil commodity company in West Africa. Its other subsidiaries are Petronav Carriers LLC (Petronav) and Petrogress Oil & Gas Energy Inc. (Petrogress Energy). Petronav focuses on primarily managing the day-to-day operation and handling of the tanker fleet it manages. Petrogress Energy is primarily focused on investigating the feasibility of acquiring oil fields in Texas so that the Company can expand its operations into the LNG market within the United States market.