Obviously they didn't think it was overvalued at this time.
Form 8-K for 4CABLE TV INTERNATIONAL, INC.
10-Feb-2015
Entry into a Material Definitive Agreement, Unregistered Sale of Eq
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
As used in this Current Report on Form 8-K, unless otherwise stated, all references to the "Company", "we," "our" and "us" refer to 4Cable TV International Inc.
Employment Contract - Vice President, Sales
On February 6, 2015 the Company entered into an employment (the "Agreement") with John Homsey ("the Employee"), an individual residing in Canton, Georgia, for the position of Vice President of Sales and Marketing. Under the terms of the Agreement, the Employee shall undertake sales of our products, manage outside sales representatives, undertake account management for Tier 1, 2 3 and 4 CTA MSO's and develop key account plans, among other activities. The Employee shall receive a starting salary of $90,000 per annum as well as an option to purchase up to 400,000 shares of the Company's common stock at $0.10 per share over a term of four years from date of employment. The options shall vest as to 100,000 shares on the anniversary of each year of employment. The Employee will receive certain paid holiday and days and benefits commensurate with the Company's Handbook. In addition, the Employee and the Company will enter into a separate agreement governing the payment of commissions on completed sales.
A copy of the form of letter of employment offer is filed as Exhibit 10.1 to this Current Report on Form 8-K. The Company issued a press release on February 10, 2015 in respect of the aforementioned Employment Agreement which has been filed as Exhibit 99.1 to this Current Report on Form 8-K.
ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES
The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02.
The options were issued to the Employee n in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act.
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