February 21, 2018 / 12:29 AM / 4 months ago

BRIEF-Prophase Labs Announces New Compensatory Arrangement With CEO And Termination Of Stockholder Rights Plan

Feb 20 (Reuters) - Prophase Labs Inc:

* PROPHASE LABS, INC. ANNOUNCES NEW COMPENSATORY ARRANGEMENT WITH CHIEF EXECUTIVE OFFICER AND TERMINATION OF STOCKHOLDER RIGHTS PLAN

* ‍BOARD OF DIRECTORS APPROVED NEW EMPLOYMENT AGREEMENT WITH TED KARKUS, COMPANY’S CEO, EFFECTIVE FEBRUARY 23, 2018​

* PROPHASE LABS- ‍BOARD HAS APPROVED NEW EMPLOYMENT AGREEMENT WITH TED KARKUS, COMPANY’S CHIEF EXECUTIVE OFFICER, WHICH WILL BECOME EFFECTIVE FEB 23, 2018​

* ‍KARKUS HAS VOLUNTARILY AGREED TO REDUCE HIS BASE SALARY FROM CURRENT RATE OF NOT LESS THAN $675,000 PER ANNUM​

* PROPHASE LABS- ‍BOARD OF DIRECTORS AGREED TO GRANT KARKUS STOCK OPTION TO PURCHASE 2.3 MILLION SHARES OF CO’S COMMON STOCK AT PRICE OF $3.00 PER SHARE​

* ‍BOARD OF DIRECTORS HAS VOTED TO TERMINATE CO’S RIGHTS AGREEMENT, EFFECTIVE FEBRUARY 20, 2018​ Source text for Eikon: Further company coverage:

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