TEL AVIV, Israel, December 29, 2011 /PRNewswire/ --
Radcom Ltd. ("RADCOM" or
the "Company") announced today
that the Audit Committee and Board of Directors of the Company
approved the entering into a consulting agreement between the
Company and Ms. Heli Bennun and/or a
company controlled by her (the "Consultant"). Ms. Bennun is the
domestic partner of Mr. Zohar Zisapel, the Company's Chairman and
its largest shareholder with holdings of approximately 30% of the
Company's voting power.
The key terms of the agreement are the following:
- The Consultant will provide advisory services to the Company's
management with respect to the Company's business operations;
- In consideration for the services rendered, Radcom shall pay
the Consultant a monthly amount which may not exceed the average
monthly salary to an employee in Israel, plus VAT.
- The engagement shall be for a period of 12 months from
commencement of service or as otherwise agreed to between the
parties.
- The Consultant will provide a service of at least 25
hours per month on average during the term of the agreement.
NOTE: As required by the Israeli Companies Law, the
transaction was approved by the Audit Committee and the Board of
Directors of Radcom Ltd. In accordance with regulations promulgated
under the Israeli Companies Law, a shareholder(s) holding more than
1% of the Company's outstanding shares may demand, by sending a
written request to the Company's principal offices (Radcom Ltd., 24
Raoul Wallenberg Street, Tel Aviv
69719, Israel, Attn.: Chief
Financial Officer) no later than January 12,
2012, that the Company convene a shareholder meeting to
approve the said agreement.
About RADCOM
RADCOM provides innovative service assurance solutions for
communications service providers and equipment vendors. RADCOM
specializes in solutions for next-generation networks, both
wireless and wireline. RADCOM's comprehensive, carrier strength
solutions are used to prevent service provider revenue leakage and
enable management of customer care. RADCOM's products facilitate
fault management, network service performance analysis,
troubleshooting and pre-mediation with an OSS/BSS. RADCOM's shares
are listed on the NASDAQ Capital Market under the symbol RDCM. For
more information, please visit http://www.RADCOM.com.
Contact:
Gilad Yehudai
CFO
+972-77-774-5060
RADCOM Ltd.
gilady@radcom.com
SOURCE Radcom Ltd