QUEST SOLUTION, INC. (OTCMKTS:QUES) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On August 02, 2017, Quest Solution, Inc. (the “Company”) entered into a consulting agreement (the “Consulting Agreement”) with Mr. Carlos Jaime Nissensohn. Mr. Nissensohn and/or any entity under his control, (the "Consultant") shall provide the Company and its controlled entities with certain business development, managerial, measures to improve efficiency and cost savings and financial services in accordance with the terms and conditions of this agreement. In exchange for its consulting services, the Consultant will receive a monthly fee of $15,000, a one-time signatory fee of 600,000 restricted shares, and 1,500,000 options to buy shares of common stock of the Company at an exercise price of $0.11 per share, which was the closing price of the Company’s common stock on August 1, 2017. Mr. Nissensohn will devote at least 80% of his working time to providing services to the company.
The foregoing description of the terms of the Consulting Agreement is not complete and is qualified in its entirety by reference to the full text of the Consulting Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and are incorporated by reference herein.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 17, 2014, the Company’s board of directors (the “Board”) adopted a Share Purchase Option Plan (the “Option Plan”), whereby the Board may grant to directors, officers, employees, or consultants of the Company options to acquire shares of common stock in order to provide an inducement and serve as a long term incentive program. to the August 02, 2017, the Board issued an aggregate of 5,000,000 options to purchase shares of common stock of the Company to directors, officers and consultants at an exercise price of $0.11 per share (the “Issuance”), which was the closing price of the Company’s common stock on August 1, 2017. The options shall vest over 12 months in 4 quarterly and equal installments, subject to the option holders’ continuous service to the Company, and shall expire on August 02, 2021.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit | |
| Number | Description |
| 10.1 |
Consulting Agreement dated August 2, 2017, by and between Quest Solution, Inc. and Mr. Carlos Nissensohn |
Quest Solution, Inc. ExhibitEX-10.1 2 ex10-1.htm Consulting Agreement This agreement dated August 2,…To view the full exhibit click here
About QUEST SOLUTION, INC. (OTCMKTS:QUES)
Quest Solution, Inc., formerly Amerigo Energy, Inc., is a national mobility systems integrator. The Company focuses on the design, delivery, deployment and support of integrated mobile solutions. It offers end-to-end solutions, which include hardware, software, communications and lifecycle management services. It offers a suite of configurable packaged software solutions, which include Order Entry, DSD and Route, Intelligent Order Entry, ITrack, Warehouse, Proof of Delivery, WTMiP and Easy Order. In addition, it guides companies through the development and deployment process, from selecting technology to the company-wide rollout of a customized solution that fits a company’s requirements. It performs a technical evaluation of the client’s operations and specific operational problems, and then determines the optimal hardware and software solutions. It delivers ongoing services provided throughout the deployment process and product life cycle. It also delivers installation services.