SUNSHINE HEART,INC. (NASDAQ:SSH) 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 of Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
(e) On December12, 2016, Sunshine Heart,Inc. (the Company)
delivered a retention bonus letter to Claudia Drayton, the
Companys Chief Financial Officer, to which the Company committed
to pay a retention bonus of $50,000 if, among other things, the
Company receives a minimum of $5 million in equity financing by
June30, 2017 and so long as Ms.Drayton is not terminated by the
Company for misconduct or poor performance and does not resign
her employment with the Company prior to that date. Such
retention bonus will be paid in a lump sum on July15, 2017 in
accordance with ordinary payroll procedures of the Company.
The foregoing description of the retention bonus letter is
qualified in its entirety by reference to the full text of the
retention bonus letter attached hereto as Exhibit10.1, which is
incorporated herein by reference.
Item 9.01 Financial Statements and
Exhibits.
|
ExhibitNo. |
|
Description |
|
10.1 |
Retention Bonus Letter, dated December12, 2016. |
About SUNSHINE HEART, INC. (NASDAQ:SSH)
SUNSHINE HEART, INC. (NASDAQ:SSH) Recent Trading Information
SUNSHINE HEART, INC. (NASDAQ:SSH) closed its last trading session up +0.001 at 0.430 with 858,767 shares trading hands.