Mr. David Centofanti serves as our Vice President of Information Systems. For such position, he received annual compensation of for each of the years and Mr. David Centofanti is the son of our CEO, President and a Board member, Dr. Louis F. Centofanti.

Mr. Robert L. Ferguson serves as an advisor to the Company’s Board and is also a member of the Supervisory Board of PF Medical, a majority-owned Polish subsidiary of the Company. Mr. Ferguson previously served as a Board member of the Company from to and again from to As an advisor to the Company’s Board, Mr. Ferguson is paid monthly plus reasonable expenses. For such services, Mr. Ferguson received compensation of approximately and for the years ended and respectively. On the Company completed a lending transaction with Messrs. Robert Ferguson and William Lampson (“collectively, the “Lenders”), whereby the Company borrowed from the Lenders the sum of (which was paid off by the Company in pursuant to the terms of a Loan and Security Purchase Agreement and promissory note (the “Loan”) (see further details and terms of this Loan in “Note – Long Term Debt – Promissory Note”).

 

On Mr. Climaco, a current member of the Company’s Board, was elected as the EVP of PF Medical. As EVP of PF Medical, Mr. Climaco receives an annual salary of and is not eligible to receive compensation for serving on the Company’s Board.

Mr. Climaco previously had a consulting agreement with the Company effective (approved by the Board with Mr. Climaco abstaining) to perform certain consulting functions for the Company as determined by the Board, including review of operating and accounting functions, strategic opportunity and other initiatives, and the development of the Company’s medical isotope production technology. The consulting agreement was terminated effective upon Mr. Climaco’s election as EVP of PF Medical. Mr. Climaco was paid per month under the consulting agreement and received approximately in for his services under the consulting agreement.

 

Mr. Climaco is also a Director of Digirad Corporation. On PF Medical and Digirad entered into a multi-year Tc- Supplier Agreement and a Subscription Agreement (see further details of these agreements in “Note – PF Medical”)..

 

The Company has employment agreements (each dated and effective for years) with each of Dr. Centofanti (our President and CEO) and Ben Naccarato (our CFO). Each employment agreement provides for annual base salaries, bonuses (including MIPs as approved by our Board and Compensation Committee), and other benefits commonly found in such agreements. In addition, each employment agreement provides that in the event of termination of such officer without cause or termination by the officer for good reason (as such terms are defined in the employment agreement), the terminated officer shall receive payments of an amount equal to benefits that have accrued as of the termination but had not yet been paid, plus an amount equal to year’s base salary at the time of termination. In addition, each of the employment agreements provide that in the event of a change in control (as defined in the employment agreements), all outstanding stock options to purchase the Company’s Common Stock granted to, and held by, the officer covered by the employment agreement to be immediately vested and exercisable. Mr. John Lash, our previous COO who retired from the position effective and who remained as a part-time employee of the Company through also had an employment agreement dated with substantially the same provisions as described above. Upon Mr. Lash’s resignation as COO effective his employment agreement also terminated. No amount was payable under Mr. Lash’s employment agreement upon his resignation as COO. (See “Note – Subsequent Events – Employment Agreement and MIPs” for a discussion of the Employment Agreement with the Company’s EVP/COO and the Company’s MIPs with its CEO, EVP/COO, and CFO).