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About The Channel Group, LLC
TCG, founded in 2002, provides strategic advisory support to healthcare companies that are undergoing a transition or seeking to enter into a strategic transaction. Having served as executive management in healthcare companies from startups to Fortune 500 companies, TCG partners bring an operational management perspective and significant scientific and clinical credentials to bear in delivering results-oriented strategic advisory and transactional support to investors, directors, and company management.
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"provides strategic advisory support to healthcare companies that are undergoing a transition or seeking to enter into a strategic transaction."--- Does that include a member of their management staff taking over as ceo during these transition periods? I wouldnt think so but if DOC was adamantly against such things Lombardo was there, with his credentials, to fill his shoes. Another thing not too many people have brought up is that Lombardo is 70 years old. Still plenty young but not too many years left to fight the huge fight Advaxis has to fight if they are going it alone.
From the latest 8-k:
On July 18, 2017, Advaxis, Inc. (the “Company”) entered into an Employment Agreement (the “Employment Agreement”) with Anthony Lombardo in connection with Mr. Lombardo’s assumption of the role of Interim Chief Executive Officer of the Company, effective July 6, 2017, as previously disclosed in the Company’s Current Report on Form 8-K filed on July 6, 2017.
Under the terms of the Employment Agreement, Mr. Lombardo’s base salary will be equal to $355,000 per year. Mr. Lombardo is also eligible to receive a one-time lump-sum bonus equal to $88,000 payable within thirty (30) days after the effective date of the Employment Agreement. Additionally, an annual discretionary bonus, targeted to 50% of Mr. Lombardo’s base salary, may be granted if certain performance goals are met in the discretion of the Company’s Compensation Committee.
Further, Mr. Lombardo will be entitled to cash severance payments if the Company terminates his employment without Just Cause (as defined in the Employment Agreement) or if Mr. Lombardo resigns his employment for Good Reason (as defined in the Employment Agreement).
In connection with the execution of the Employment Agreement, Mr. Lombardo also agreed to maintain Company Confidential Information (as defined in the Employment Agreement).
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Advaxis did something I dont think I have ever seen before which is they didnt offer RSU's or options to Lombardo. Which one can argue he is interim but why then the potential annual bonus? I am beginning to change my opinion to that a transaction/transition will occur or....just saying screw it all and just stick with farming and let the intellects handle the intellectualizing and start again buying shares at these low levels.....hmmmm
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