One of our investors has brought this to my attent
Post# of 5066
Item 5.02 Compensatory Arrangements of Certain Officers.
On July 3, 2008 the Company entered into an agreement with David R. Koos, the Company’s Chairman, President and CEO, whereby, in order to secure Mr. Koos’ services as President and CEO over a ten year period, the Company issued to Mr. Koos 4,852 shares of Series AA Preferred Stock (“AA Stock”) pursuant to the following terms and conditions:
A) In the event that Koos voluntarily resigns as either President or CEO of the Company prior to July 3, 2018 the AA Stock shall be returned to the Company.
B) In the event of the death of Koos prior to July 3, 2018 the AA Stock shall be returned to the Company.
C) Upon the expiration of a continuous period of two hundred forty (240) calendar days during which Koos is unable to perform his material duties as President or CEO due to physical or mental incapacity the AA Stock shall be returned to the Company.
D) Upon Koos’ conviction in a court of competent jurisdiction for a felony or any crime involving fraud or misrepresentation the AA Stock shall be returned to the Company.
This is very interesting to us, as most can imagine. So...the digging continues...
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