Rennova Health, Inc. (NASDAQ:RNVA) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement
On August 15, 2017, the Board of Directors (the “Board”) of Rennova Health, Inc. (the “Company”), based on the recommendation of the Compensation Committee of the Board and in accordance with the provisions of the 2007 Incentive Award Plan (the “Plan”), approved grants to employees and directors of an aggregate of 2,729,000 shares of restricted common stock of the Company, including the following to the directors of the Company:
| SeamusLagan | 200,000shares |
| Dr. Kamran Ajami | 100,000 shares |
| Christopher Diamantis | 100,000 shares |
| Trevor Langley | 100,000 shares |
The grants fully vest on the first anniversary of the date of grant, subject to the grantee’s continued status as an employee or director, as the case may be, on the vesting date. The restricted shares of common stock are deemed to be issued and outstanding and the grantee may exercise full rights with respect to such shares; provided, that, prior to the vesting date, the shares cannot be sold, transferred, pledged, hypothecated, assigned or otherwise disposed of. Upon the grantee’s termination of employment or service as a director, as the case may be, prior to the vesting date for any reason the unvested shares will be forfeited.
The shares granted to the directors were granted under the Plan to a grant agreement, the form of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference. The foregoing description of the grant agreement is qualified in its entirety by reference to the full text of such agreement.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
The information disclosed in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 5.02.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit | Description |
| 10.1 | Form of Grant Agreement |
Rennova Health, Inc. ExhibitEX-10.1 2 ex10-1.htm FORM OF RENNOVA HEALTH,…To view the full exhibit click here
About Rennova Health, Inc. (NASDAQ:RNVA)
Rennova Health, Inc. (Rennova), formerly CollabRx, Inc., is a provider of diagnostics and supportive software solutions to healthcare providers. The Company operates in three segments: clinical laboratory operations, supportive software solutions, and decision support and informatics operations. The Company is a healthcare enterprise that delivers products and services, including laboratory diagnostics, healthcare technology solutions, and revenue cycle management and intends to provide financial services, to medical providers. Rennova’s principal line of business is clinical laboratory blood and urine testing services. It is also engaged in the provision of urine drug toxicology testing to physicians, clinics and rehabilitation facilities in the United States. Its clinical laboratories include Biohealth Medical Laboratory, Inc.; Alethea Laboratories, Inc.; International Technologies, LLC; EPIC Reference Labs, Inc., and Epinex Diagnostics Laboratories, Inc.
