Replies to post #75459 on Electronic Cigarettes International Group Ltd fka

[was CUIN2]

ChuckBits - "Change of control" existed in the original employment agreement with Dan. Here is an excerpt - see the last sentence:

"Effective as of March 17, 2015, the Company entered into an employment agreement with Mr. O’Neill. The employment agreement provides for an initial term of three years from the effective date with automatic two year extensions, unless terminated by Mr. O’Neill or by the Company.

Pursuant to the terms of the employment agreement, the Company agreed to pay Mr. O’Neill an annual base salary of $390,000, subject to annual review. Mr. O’Neill is eligible for a targeted cash bonus of up to 200%, as approved by the Compensation Committee, based on the achievement of objective metrics as approved by the Board of Directors, to be established no later than March 31st of each year. Mr. O’Neill is also entitled to participate in all of the Company’s benefit plans and equity-based compensation plans, which currently consists of the 2014 Long-Term Incentive Plan. The employment agreement also provides for the accelerated vesting of all outstanding equity awards held by Mr. O’Neill upon the occurrence of a change of control of the Company."

[was CUIN2]

More information ChuckBits.

New employment agreement: In addition, all unvested stock options, stock appreciation rights, restricted stock and performance shares held by Mr. O’Neill will immediately expire.

Old employment agreement: In addition, all stock options, stock appreciation rights, restricted stock and performance shares he holds will immediately vest.

[Bushmantrader]

Perhaps something is in the works. They could have made these changes for many reasons. Could be a buy out, could be just a cost saving measure as they are in that mode. I was in finance in a large corporation, and when cost cutting hits, all areas are expected to contribute. Maybe this is just compensation's contribution?Next few weeks should be interesting.