YI PING CHAN - Corporate Board Profile

Algorhythm Holdings, Inc.

Filing Date	Source Excerpt
2004-01-21	Yi Ping Chan 39 Interim Chief Executive Officer and Chief Operating Officer, Secretary and Director
2004-11-01	Yi Ping Chan 40 Interim Chief Executive Officer, Chief Operating Officer, Secretary and Director YI PING CHAN has served as our Chief Operating Officer since May 2, 2003 and as our interim Chief Executive Officer since October 17, 2003. The following table sets forth certain compensation information for the fiscal years ended March 31, 2004, 2003 and 2002 with regard to Yi Ping Chan, our Interim Chief Executive Officer, and each of our other executive officers whose compensation exceeded $100,000 on an annual basis (the "Named Officers"): Yi Ping Chan 2004 $247,470 (4) -- $ 6,000 52,800 $ 12,180 Interim Chief Executive Officer and Chief Operating Officer(3) (4) Effective as of August 1, 2003, Mr. Chan, Mr. Dromgold and Mr. Steele agreed to take 15% of their annual compensation in the form of stock for a nine month period until March 31, 2004 (except Mr. Steele's agreement was for an 8 month period until February 28, 2004 when his employment agreement expired). During their respective time periods, Mr. Chan, Mr. Dromgold and Mr. Steele received compensation in the amount of $20,125, $17,535 and $63,136 in shares of the Singing Machine's common stock. The Audit Committee assists the Board in fulfilling its oversight responsibility relating to our financial statements and financial reporting process, the qualifications independence and performance of our independent auditors, the performance of our internal audit functions and our compliance with legal and regulatory requirements. The members of the Audit Committee during fiscal 2004 were Messrs. Judkowitz (Chairman), Appel and Ekstract (resigned June 1, 2004) each of them was independent as defined by the American Stock Exchange Rules in effect during this time period. The Executive Compensation/Stock Option Committee considers and authorizes remuneration arrangements for senior management and grants options under, and administers our 1994 Stock Option Plan and our Year 2001 Stock Option Plan. The Executive Compensation/Stock Option Committee held one meeting during fiscal 2004 and the members of the Executive Compensation/Stock Option Committee during this time period were Messrs. Bauer, Judkowitz and Appel. The Nominating Committee reviews and assesses the composition of the Board, assists in identifying potential new candidates for directors, including nominees recommended to the Secretary of the Company in writing by stockholders, and recommends candidates for election as Directors. The entire Board of Directors serves as the Nominating Committee. The members of our Executive Compensation Committee as of in the fiscal year ended March 31, 2004 were Messrs. Appel, Bauer and Judkowitz. The Audit Committee is composed of three directors and operates under a written charter adopted and approved by the Board of Directors. During fiscal 2004, all of the Audit Committee members were non-employee directors and were independent as defined by the AMEX listing standards in effect during fiscal 2004. The members of the Audit Committee during fiscal 2004 were Harvey Judkowitz, Richard Ekstract (resigned on June 1, 2004), Jay Bauer, and Bernard Appel. Mr. Judkowitz served as the Chairman of the Audit Committee. The four persons set below, each of whom is currently a director, are proposed to be re-elected as directors at the Annual Meeting. If elected, each of these directors will hold office until the next Annual Meeting of Stockholders in the year 2005 or until his or her successor is duly elected and qualified. Bernard Appel Josef Bauer Yi Ping Chan Harvey Judkowitz The four nominees for election to the Board of Directors who receive the greatest number of votes cast for the election of directors by the shares present, in person or by proxy, shall be elected directors. Shareholders do not have the right to cumulate their votes for directors. In the election of directors, an abstention or broker non-vote will have no effect on the outcome. The Board recommends stockholders to vote "for" each of the nominees for director set forth above.
2005-12-20	Yi Ping Chan 41 Interim Chief Executive Officer, Chief Operating Officer, Secretary and Director Yi Ping Chan has served as our Chief Operating Officer from May 2, 2003 and as our Interim Chief Executive Officer since October 17, 2003. Prior to this appointment, Chan was a consultant to Singing Machine. Mr. Chan was a founder and general partner of MaxValue Capital Ltd., a Hong Kong-based management consulting and investment firm, and co-founder and director of E Technologies Ltd., Hong Kong, which specialized in health care technology transfer from April 1996 to June 2002. Prior to that, he was Chief Strategist and Interim CFO from January 2000 to June 2002 of a Hong Kong-based IT and business process consulting firm with operations in Hong Kong, China and the US. He also held a senior management position with a Hong Kong-based venture capital and technology holding company with operations in Hong Kong, China and the US. He also worked as a business development analyst for Allied Signal Inc. (now part of Honeywell Corp.) specializing in joint ventures and acquisitions in Japan and China. He also worked as an engineer for International Business Machine Corp. in the USA. Mr. Chan earned an MBA in 1994 and a MSEE in 1990 from Columbia University and a BSEE with Magna Cum Laude in 1987 from Polytechnic University, New York. The following table sets forth certain information with respect to our executive officers and directors as of December 20, 2005: NAME AGE POSITION ---- --- -------- Yi Ping Chan 41 Interim Chief Executive Officer, Chief Operating Officer, Secretary and Director The following table sets forth certain compensation information for the fiscal years ended March 31, 2005, 2004 and 2003 with regard to Yi Ping Chan, our Interim Chief Executive Officer, and each of our other executive officers whose compensation exceeded $100,000 on an annual basis (the "Named Officers"): SUMMARY COMPENSATION TABLE Summary Compensation Table Annual Compensation Long Term Compensation -------------------------------------------------------------------------------------- Other Securities Annual Underlying All Other Name of Individual and Principal Position Year Salary Bonus Compensation(1) Options / SAR's Compensation(2) ----------------------------------------- ---- ------ ----- --------------- --------------- --------------- Yi Ping Chan 2005 $246,038 -- $ 6,000 -- $ 4,560 Interim CEO & COO 2004 $247,470 (15) -- $ 6,000 52,800 $ 12,180 During fiscal 2005, our compensation package for our non-employee directors consisted of grants of stock options, cash payments and reimbursement of costs and expenses associated with attending our Board meetings. Our five non-employee directors during fiscal 2005 were Messrs. Bauer, Appel, Judkowitz, Goldberg and Merkin. During fiscal 2005, we have implemented the following compensation policy for our directors: o An initial grant of 20,000 stock options of the Company with an exercise price determined as the closing price on the day of joining the board. The options will vest in one year and expire in ten years while they are board members or 90 days once they are no longer board members. o An annual cash payment of $7,500 will be made for each completed full year of service or prorated for a partial year. The payment will be made as of March 31. o An annual stock grant of stock equivalent in value to $2,500 for each completed full year of service or prorated for a partial year. The stock price at grant will be determined at the closing price on the day of the Annual Shareholder Meeting. The actual grant will be made on or before March 31. o An annual grant of 20,000 stock options of the Company with an exercise price determined as the closing price on the day of the Annual Shareholder Meeting. If the Annual Meeting is held less than 6 months after the board member first joined the board he or she will not receive another option grant. o Independent board members will receive a $500 fee for each board meeting and annual meeting they attend. Committee meetings and telephone board meetings will be compensated with a $200 fee. o All expenses will be reimbursed for attending board, committee and annual meetings or when their presence at a location away from home is requested.
2006-12-11	Yi Ping Chan has served as our Chief Operating Officer from May 2, 2003 and as our Interim Chief Executive Officer since October 17, 2003. ... Mr. Chan earned an MBA in 1994 and a MSEE in 1990 from Columbia University and a BSEE with Magna Cum Laude in 1987 from Polytechnic University, New York.