POWIN ENERGY CORPORATION (OTCMKTS:PWON) 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
Effective August 30, 2017, Craig S. Eastwood’s role and responsibility with the Company as Chief Financial Officer terminated. Effective September 22, 2017, the Company and Mr. Eastwood entered into a Severance and Release Agreement to which, among other things, Mr. Eastwood would remain as an employee of the Company until November 30, 2017, would receive payment for accrued but unused paid time off and sick leave and would remain on the Company’s health insurance plan until November 30, 2017.
About POWIN ENERGY CORPORATION (OTCMKTS:PWON)
Powin Energy Corp, formerly Powin Corporation, is a contract manufacturer. It provides manufacturing coordination, design and logistics services for companies to outsource its manufacturing needs. Its segments include Contract manufacturing, Manufacturing, Energy and Powin Mexico. The contract manufacturing segment provides for the coordination and distribution of products manufactured in China, assists in the design and handles the logistics and coordination of product manufacturing. The manufacturing segment manufactures various truck parts and components primarily for freightliner trucks, a division of Daimler Trucks North America. The energy segment operates through Powin Energy Corporation, which utilizes patent-pending energy storage technology for scalable grid-level and commercial energy storage systems, Electric Vehicle (EV) charging stations and transportation applications. The Powin Mexico segment is engaged in manufacturing gun safes and heavy truck parts.
