Elite Pharmaceuticals Inc (ELTP)

[Hike]

MT:

Good question. I went back and listened to the Q22014 conference call.

Here is how you may have gotten three years in your head.

Nasrat get paid $350,000 in stock, not cash.

The stock that Nasrat is owed is accrued for and payable after three years.

In other words Nasrat receives NO COMPENSATION whatsoever for three years and then gets, essentially, $1,050,000 in stock after three years.

Pretty amazing huh?

So no, his term as CEO is not defined or limited in any way.