Post by Zoinkers on Dec 1, 2006 0:35:48 GMT -5
Form 8-K for EL CAPITAN PRECIOUS METALS INC
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17-Nov-2006
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
At a meeting on November 13, 2006, the Board of Directors of El Capitan Precious Metals, Inc. (the "Company") approved the appointment of Mr. Kenneth P. Pavlich (age 52) to the Company's Board of Directors. Since 2002, Mr. Pavlich has been the founding and principal officer of Pavlich Associates, which provides consulting services to precious metal, base metal and industrial mineral companies, including the Company. Prior to that time and since 1997, Mr. Pavlich held various senior management positions (including his most recent position as V.P. of Operations) with Oglebay Norton Company. Mr. Pavlich has a Masters Degree in Management and Administrative Science - Finance Concentration from the University of Texas and a Bachelor of Science Degree in Mining Engineering (Summa Cum Laude) from the University of Idaho.
The Company, Gold and Minerals Co., Inc. and Pavlich Associates, a sole proprietorship, of which Mr. Pavlich is the principal, entered into the El Capitan Project Representation Agreement, dated June 21, 2006 (the "Agreement") whereby Pavlich Associates agrees to provide certain consulting services in connection with a sale or certain other transactions (as defined in the Agreement) involving the El Capitan project, at a rate of $125 per hour. In addition, upon completion of a sale or other transaction, Pavlich Associates will be paid the greater of one-quarter of one percent of the Total Transaction Value (as more specifically defined in the Agreement) or $250,000 (the "Success Payment"). The total of all Success Payments under this Agreement cannot exceed $3,000,000.
Upon appointment to the Board, Mr. Pavlich was granted 100,000 options to purchase common stock at $0.83 per share (the closing price of the Company's common stock on November 13, 2006, the date of such appointment), to vest in two equal installments on January 1, 2007 and July 1, 2007.
At this time, Mr. Pavlich has not been appointed to any committees of the Board of Directors.
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17-Nov-2006
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
At a meeting on November 13, 2006, the Board of Directors of El Capitan Precious Metals, Inc. (the "Company") approved the appointment of Mr. Kenneth P. Pavlich (age 52) to the Company's Board of Directors. Since 2002, Mr. Pavlich has been the founding and principal officer of Pavlich Associates, which provides consulting services to precious metal, base metal and industrial mineral companies, including the Company. Prior to that time and since 1997, Mr. Pavlich held various senior management positions (including his most recent position as V.P. of Operations) with Oglebay Norton Company. Mr. Pavlich has a Masters Degree in Management and Administrative Science - Finance Concentration from the University of Texas and a Bachelor of Science Degree in Mining Engineering (Summa Cum Laude) from the University of Idaho.
The Company, Gold and Minerals Co., Inc. and Pavlich Associates, a sole proprietorship, of which Mr. Pavlich is the principal, entered into the El Capitan Project Representation Agreement, dated June 21, 2006 (the "Agreement") whereby Pavlich Associates agrees to provide certain consulting services in connection with a sale or certain other transactions (as defined in the Agreement) involving the El Capitan project, at a rate of $125 per hour. In addition, upon completion of a sale or other transaction, Pavlich Associates will be paid the greater of one-quarter of one percent of the Total Transaction Value (as more specifically defined in the Agreement) or $250,000 (the "Success Payment"). The total of all Success Payments under this Agreement cannot exceed $3,000,000.
Upon appointment to the Board, Mr. Pavlich was granted 100,000 options to purchase common stock at $0.83 per share (the closing price of the Company's common stock on November 13, 2006, the date of such appointment), to vest in two equal installments on January 1, 2007 and July 1, 2007.
At this time, Mr. Pavlich has not been appointed to any committees of the Board of Directors.