Corporate Board Profile
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Filing Date | Source Excerpt |
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2004-04-12 | Judy M. Robinett has held the office of President and Chief Executive Officer since November, 2000, and joined the Board of Directors on February 9, 2001. The following table sets forth certain summary information concerning compensation paid by the Company to the President and Chief Executive Officer for the years ended December 31, 2003. Salary: 220,000. |
2008-01-08 | On August 31, 2007, the Company entered into a Settlement and Release Agreement with Judy Robinett, the Companys current Chief Executive Officer, pursuant to which Ms. Robinett agreed to continue to act as the Companys transitional Chief Executive Officer. Under the agreement, Ms. Robinett agreed to, among other things, assist the Company in the sale of its legacy assets, complete the preparation and filing of the delinquent reports to the Securities and Exchange Commission (the SEC) that related to the periods prior to the appointment of Mr. Palmer, and provide certain shareholder and creditor related services. Upon the completion of the foregoing matters, in particular the filing of the delinquent reports to the SEC, Ms. Robinett will resign, and Mr. Palmer will thereafter assume the office of Chief Executive Officer. Under the agreement, Ms. Robinett agreed to (i) forgive her potential right to receive $1,851,805 in accrued and unpaid compensation, un-accrued and pro-rata bonuses, and severance pay and (ii) the cancellation of stock options to purchase 14,000,000 shares of common stock at an exercise price of $0.02 per share. In consideration for her services, the forgiveness of the foregoing cash payments, the cancellation of the foregoing stock options, and settlement of other issues, the Company agreed to (a) pay Ms. Robinett $500,000 upon the receipt of the Eucodis cash payment under the agreement to sell the SaveCream Assets. |
Data sourced from SEC filings. Last updated: 2025-08-30