In December 2017, EK Laboratories rented office and warehouse space from Royal Palm Dev I, LLC, a company owned by Joe Walsh who is a greater than 10% shareholder of the Company.
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The Company’s compensation philosophy is based on its belief that its compensation programs should be aligned with stockholders’ interests and business objectives; reward performance; and be externally competitive and internally equitable. The Company seeks to achieve three objectives, which serve as guidelines in making compensation decisions:
1. Providing a total compensation package which is competitive and therefore enables it to attract and retain, high-caliber executive personnel;
2. Integrating compensation programs with its short-term and long-term strategic plan and business objectives; and
3. Encouraging achievement of business objectives and enhancement of stockholder value by providing executive management long-term incentive through equity ownership.
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