Radcom (RDCM) Enters Consulting Agreement with Entity Related to Chairman
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Radcom Ltd. (Nasdaq: RDCM) 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 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.
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