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Delaware
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13-3899021
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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On May 8, 2014, hopTo Inc. ("hopTo") appointed Jean-Louis Casabonne as its Chief Financial Officer, effective May 8, 2014, and entered into an Employment Letter with Mr. Casabonne, dated April 30, 2014 and executed on May 5, 2014 (the "Employment Letter").
Mr. Casabonne, 56, was director of business development and strategic evangelist at Neustar, Inc. from 2011 through early 2014. From 2002 to 2011 he was the Chief Financial Officer of Quova, Inc., which was acquired by Neustar, Inc. From 1996 to 2001 he was Chief Financial Officer and Vice President of Finance and Operations at Inxight Software, Inc., which was acquired by Business Objects. From 1992 to 1996 he held various finance positions at Xerox Corp. Mr. Casabonne holds MBA and BS degrees from Santa Clara University.
The Employment Letter is at-will and provides for an annual base salary of $225,000. Mr. Casabonne may receive annual bonuses in the amount of 30% of annual base salary based on performance. In addition, Mr. Casabonne will receive one million restricted shares of hopTo common stock, vesting in 33 equal monthly installments, subject to continued employment and the other terms of the company's equity incentive plans.
The foregoing description is qualified in its entirety by reference to the complete text of the Employment Letter, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by this reference. A copy of the press release issued by hopTo on May 8, 2014 announcing Mr. Casabonne's appointment is attached hereto as Exhibit 99.1 and incorporated herein by this reference.
10.1 Employment Letter dated April 30, 2014 and executed May 5, 2014 between hopTo Inc. and Jean-Louis Casabonne.
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April 30, 2014
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Jean-Louis Casabonne
775 17 th Avenue Menlo Park, CA 94025 Dear Jean-Louis, |
On behalf of HOPTO I NC ., I am pleased to offer you employment as Chief Financial Officer for HOPTO I NC . reporting to Eldad Eilam, CEO. Your annual base salary will be at a rate of $225,000.00 less all applicable taxes and deductions. In addition, you will be eligible for an annual bonus of up to 30% of your annual base salary that will be based on mutually acceptable goals and achievements. This offer is contingent upon successful completion the pre-employment background check being performed by BackTrack Inc. Four weeks’ of paid time off and participation in the regular health insurance plan and other employee benefit plans established by HOP T O I NC for its employees will also be available to you. Details of these benefits will be provided in your new hire package.
A recommendation will be made to the HOPTO I NC . Board of Directors for you to be awarded equity compensation equivalent to 1,000,000 shares of HOPTO I NC . common stock. If approved, your shares will be awarded on the 15 th of the month following your date of hire. Such award will vest in thirty-three (33) equal monthly installments at the rate of 3.03% per installment. The first installment will vest four months after your start date. Each subsequent installment will vest monthly thereafter.
You understand that this letter does not constitute a contract of employment for any specific period of time, but constitutes an ‘employment at will’ relationship, during which time you may be terminated with or without cause. This is the full and complete agreement between us on this term. This provision can only be modified in writing signed by both you and an officer of the Company. This offer will stay valid for 5 business days from the date above.
We very much hope that you will accept our offer and look forward to having you on the team.
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Sincerely yours,
/s/ Eldad Eilam |
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Eldad Eilam
Chief Executive Officer and President |
I accept the offer of employment above, and I expect to begin employment on May 5, 2014.
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/s/ Jean-Louis Casabonne
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May 5, 2014
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Sign/Date
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1919 S Bascom Avenue, Suite 600, Campbell, CA 95008
hopTo Names Jean-Louis Casabonne as Chief Financial Officer
CAMPBELL, Calif. – (May 08, 2014) – hopTo Inc., developer of the most comprehensive mobile productivity workspace, announced the appointment of Jean-Louis Casabonne as Chief Financial Officer, effective today.
Mr. Casabonne is a seasoned executive with over 25 years of corporate finance, business development and senior management experience. He has a proven track record of operating in senior finance positions in companies ranging from the Fortune 500 to the tech start-up world. In his prior role as CFO at Quova, Inc., he was instrumental in achieving profitability and positive cash flow and managing key relationships. He was retained by Neustar Inc., following the acquisition of Quova, as director of business development and strategic evangelist and was responsible for managing key customer relationships and developing new business partnerships.
Prior to that, Mr. Casabonne served as the CFO, vice president of finance and operations and co-founder at Inxight Software, Inc., a spinoff of the Xerox Corporation, where he was responsible for securing $24M in Series B funding in addition to seed funding from Xerox to create Inxight Software. Additionally, he previously held several financial management positions at Xerox, where he helped launch three subsidiary companies.
hopTo’s CEO, Eldad Eilam commented, “Jean-Louis’ broad-based experience as a finance professional, including both large and small companies gives him a solid platform for the job of Chief Financial Officer of hopTo. His entrepreneurial background coupled with his experience in fundraising, strategic planning and business development will help ensure that hopTo successfully executes the Company’s strategic plan. We welcome him as a key member of the Company's management team.”
Mr. Casabonne added, “I am excited to join hopTo at this important point in the Company’s evolution. I look forward to contributing my experience and expertise to help drive shareholder value and look forward to working hand-in-hand with the strong leadership team at hopTo to achieve its growth and profitability objectives.”
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About hopTo:
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hopTo Inc. is an innovator of a unique mobile productivity workspace application. hopTo delivers a mobile experience that changes the way you work and live — empowering you to fully embrace a mobile lifestyle – without any compromises or boundaries. Search, Access, Aggregate, Create, Edit and Share your content from your mobile device, efficiently and effectively, by leveraging the power of your own “personal cloud.” The company is based in Campbell, CA.
For more information on hopTo, please visit: hopTo.com or download the hopTo IRapp from our
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investor page.
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FORWARD LOOKING STATEMENTS:
This press release contains statements that are forward looking as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These statements include statements regarding future growth and the expected impact of our products on the marketplace. These statements are based on management’s current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ significantly from those described in the forward looking statements. Factors that may cause such a difference include the following: the success of our new products depends on a number of factors including market acceptance and our ability to manage the risks associated with new product introduction and developing and marketing new versions of the product; and other factors, including those set forth under Item 1A, “Risk Factors” in our Annual Report on Form 10-K/A for the year ended December 31, 2013, and in other documents we have filed with the SEC.
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Investors:
Julie Silber jsilber@kcsa.com 310.766.9760 Media: Troy Mickle press@hopto.com 408.688.2674 x5086 Anne Donohoe adonohoe@kcsa.com 732.620.0033 |