SAN FRANCISCO, Nov. 6, 2017 /CNW/ -- Frankly
Inc.(TSX VENTURE: TLK) (Frankly), a leader in
transforming local TV broadcast and media companies by enabling
them to publish and monetize their digital content across multiple
platforms, announces the following:
CEO, CFO/COO Employment Agreements - Frankly has entered into
new employment agreements with its Chief Executive Officer,
Steve Chung, and its Chief Financial
Officer/Chief Operating Officer, Lou
Schwartz. Mr. Chung's agreement provides for an annual
base salary of US$360,000, increasing
to US$400,000 upon completion of a
strategic transaction with a value in excess of US$5 million, and Mr. Schwartz's agreement
provides for a base salary of US$360,000. The agreements have two-year
terms, and provide for bonuses, severance and other provisions
typical in executive employment agreements. In connection
with Frankly's strategic process, Mr. Chung and Mr. Schwartz are
participating in a key employee retention plan where they will have
the opportunity to receive additional bonuses in an amount up to
100% of their respective base salaries based on the achievement of
various milestones.
Board Compensation Plan 2017-2018 – Frankly's Board of Directors
has approved a 2017-18 compensation plan for the Board's three
independent directors: Tom Rogers,
Steve Zenz and Choong Sik "Samuel"
Hyun to compensate them for their service on the Board and its
various independent director committees, and pursuant to that plan,
Frankly has made the following grants: Tom
Rogers – 60,025 restricted share units ("RSUs"),
Steve Zenz – 45,533 RSUs and
Samuel Hyun – 35,819 RSUs. The
plan covers the period commencing October 1,
2017 and ending on September 30,
2018, and all of the granted RSUs are scheduled to vest by
September 30, 2018.
About Frankly
Frankly (TSX VENTURE: TLK) builds an integrated software
platform for media companies to create, distribute, analyze and
monetize their content across all of their digital properties on
web, mobile and TV. Its customers include NBC, ABC, CBS and FOX
affiliates. The company is headquartered in San Francisco with major offices in
New York. To learn more, visit
www.franklyinc.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Notice Regarding Forward-Looking Statements
This release includes forward-looking statements regarding
Frankly and its business. Forward-looking information is generally
identifiable by use of the words "believes," "may," "plans,"
"will," "anticipates," "intends," "could", "estimates", "expects",
"forecasts", "projects" and similar expressions, and the negative
of such expressions. Forward-looking statements in this release
include, without limitation, statements relating to the ability of
Frankly to help businesses monetize content. Forward-looking
events and circumstances discussed in this release may not occur in
any expected timeframes or at all. The actual results of
circumstances could differ materially from any forward-looking
statement as a result of known and unknown risk factors and
uncertainties affecting the company.
Forward-looking information is based on assumptions,
estimates, analysis and opinions of management that it believes to
be relevant and reasonable in light of its experience and
perception of trends, current conditions and expected developments,
and other circumstances as of the date such statements are made.
Although Frankly has attempted to identify important factors that
could cause actual results to differ materially from those
contained in any forward-looking statement, there may be other
factors that cause results not to be as anticipated.
No forward-looking statement can be guaranteed and
accordingly, readers should not place undue reliance on
forward-looking information. Except as required by applicable
securities laws, forward-looking statements speak only as of the
date on which they are made and Frankly undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
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SOURCE Frankly Inc.