Appliance Recycling Centers (ARCI) Appoints New COO

October 18, 2016 2:42 PM EDT
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Appliance Recycling Centers (Nasdaq: ARCI) disclosed the following on Tuesday:

ITEM 5.02 Departure of Directors and Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(c) On October 12, 2016, James P. Harper was appointed Chief Operating Officer of Appliance Recycling Centers of America, Inc. (“ARCA”). From August 2011 to 2016, Mr. Harper, age 43, was Vice President of CLEAResult, and from November 1999 to 2010 was Senior Director of Structure Group.

In addition to other employment benefits, Mr. Harper is entitled to a base salary of $240,000 per year, a first year quarterly bonus of $15,000 and thereafter an annual bonus as determined by the Company’s board of directors.

There are no arrangements or understandings between Mr. Harper and any other person pursuant to which he was elected as an officer of the Company. There are no transactions in which Mr. Harper has an interest requiring disclosure under Item 404(a) of Regulation S-K.

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