REPRO MED SYSTEMS, INC. (OTCMKTS:REPR) 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; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS.
Appointment of Executive Officer
Dr. Fred Ma, the Chief Medical Officer of Repro Med Systems, Inc.
dba RMS Medical Products (RMS), became a principal executive
officer of RMS on May 3, 2017. Dr. Ma has served as an employee
of the Company since November 1, 2016, and as a consultant since
July 2015.
Dr. Ma has over 30 years of broad experience based on his
neurosurgical practice, with significant emphasis in
pharmaceuticals and medical device industries. Prior to joining
RMS, Dr. Ma was President and Managing Director of Medical
Quality International, LLC, a pharmaceutical and medical device
development consulting firm, from July 2014 to January 2016. From
June 2011 to July 2014, Dr. Ma was the Chief Medical Officer and
Board of Director at Innovacyn, Inc. a pharmaceutical company.
Dr. Ma has a successful track record in all phases of product
research and development culminating in final approvals,
clearances, and commercialization. He is prominent within
regulatory agencies and a multitude of professional
organizations. Dr. Ma has directly designed and supervised
numerous product developments, 600 clinical trials, and has
obtained many regulatory approvals and clearances in the United
States and worldwide. Dr. Ma earned his M.D. degree from Capital
University of Medical Sciences, Beijing, D.M.Sc. (Doctorate of
Medical Sciences (equivalent to combined M.D. and Ph.D. degrees)
from University of Tokyo, Japan, and a Ph.D. from Rutgers
University.
Compensatory Arrangements
On November 1, 2016 (the Effective Date), RMS and Dr. Ma entered
into an employment agreement for an initial term expiring one
year from the Effective Date, unless and until terminated as
otherwise provided in the Agreement. The following summary of the
employment agreement does not purport to be complete and is
subject to and qualified in its entirety by the terms of the
employment agreement.
The material terms of the agreement are as follows:
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Dr. Mas annual base salary is $300,000 and includes |
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Dr. Ma will be eligible to earn an annual bonus in |
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During the first six months of employment Dr. Ma will also |
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If Dr. Mas employment is terminated by the Company other |
About REPRO MED SYSTEMS, INC. (OTCMKTS:REPR)
REPRO MED SYSTEMS, INC. (RMS) designs, manufactures and markets medical devices for the ambulatory infusion market and emergency medical applications. The Company’s products include FREEDOM60 Syringe Infusion System (FREEDOM60), RMS HIGH-Flo Subcutaneous Safety Needle Sets (HIgH-Flo), RES-Q-VAC Portable Medical Suction System (RES-Q-VAC) and On-Line Calculator. The FREEDOM60 consists of the FREEDOM60 Syringe Infusion Pump and RMS Precision Flow Rate Tubing. The HIgH-Flo is designed for self-administration of medicine under the skin. The RES-Q-VAC is a hand-operated suction device that removes fluids from a patient’s airway by attaching the RES-Q-VAC pump to various sterile and non-sterile single-use catheters sized for adult and pediatric suctioning. The On-Line Calculator is a tool to help determine which of the Company’s Precision Flow Rate Tubing and RMS HIgH-Flo Subcutaneous Needle Sets are to be used based on the medication being administered and time of infusion. REPRO MED SYSTEMS, INC. (OTCMKTS:REPR) Recent Trading Information
REPRO MED SYSTEMS, INC. (OTCMKTS:REPR) closed its last trading session 00.000 at 0.435 with 1,300 shares trading hands.