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ENERGY FOCUS, INC/DE FILES (8-K) Disclosing Change in Directors or Principal Officers(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 28, 2014, the Board of Directors (the "Board") of Energy Focus, Inc., a Delaware corporation (the "Company"), approved the following compensation awards and arrangements for James Tu, its Executive Chairman and Chief Executive Officer: ? a cash bonus of $80,000 for the 2013 calendar year to be paid as soon as practical; and ? an annual salary for 2014 of $250,000 paid in accordance with the Company's normal payroll practice. In addition, the Board determined that Mr. Tu will be eligible for a discretionary bonus of up to 50 percent of his 2014 annual salary. Such bonus will be determined by the Board and will be based upon the Company's financial results for 2014, as well as Mr. Tu's performance during the period. 2-------------------------------------------------------------------------------- [ Back To TMCnet.com's Homepage ] |