Calmare Therapeutics Incorporated Appoints Stephen J. D’Amato, M.D., F.A.C.E.P. Chief Medical Officer
The Company does not have an employment agreement with D'Amato. However, in connection with D'Amato's appointment, the Company and D'Amato have agreed to terms to be memorialized in an agreement. Under the agreed upon terms of the term sheet, Dr. D'Amato's compensation includes a base salary of One Hundred and Eighty Thousand Dollars ($180,000) per annum, bonus eligibility equal to forty percent (40%) of Dr. D'Amato's base salary, payable annually, subject to meeting goals and objectives created by the Company's Board of Directors. Additionally, Dr. D'Amato shall be granted three hundred thousand (300,000) stock options. These terms are subject to modification until a formal employment agreement is executed.
