Josh Moser was appointed as our Vice President and Chief Operating Officer on August 3, 2006 and has been our Corporate Secretary since June 2006. Mr. Moser has extensive experience in finance, restructuring and operating companies in the technology, manufacturing and service industries, including structured financing arrangements and mergers and acquisitions. Prior to working with NanoSensors, Mr. Moser provided management consulting services, including serving as Interim Chief Financial Officer at Chuckwalla, Inc., a privately-held software company. From September 2002 through February 2005, Mr. Moser was a Vice President with Sherwood Partners, Inc., a business and financial advisory consulting firm that assists commercial lending institutions and venture capital firms in managing and structuring corporate turnarounds.
Pursuant to the separation agreement with Dr. Wong, NanoSensors agreed
to pay or provide him with the following: (a) a severance payment equal to
six months of his base salary, which amount shall equal $72,000, payable in
accordance with our regularly scheduled pay dates for employees, (b) an
additional amount of $5,125 for unused vacation benefits, (c) a restricted
stock award of 1,364,629 shares of common stock under our 2006 Equity
Incentive Plan, and (d) the accelerated vesting of all options granted to
him under our 2006 Equity Compensation Plan, along with the continuation of
the exercise period for the duration of the original term of such options.
In consideration of the foregoing, Dr. Wong provided NanoSensors with a
general release and agreed to comply with the restrictive covenants of his
employment agreement with us (dated August 3, 2006), subject to a
modification of the covenant against competition. However, in the event
NanoSensors elects to comm
|SOURCE NanoSensors, Inc.|
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