CGI HOLDING CORP 8-K

by David Evans on March 3, 2005

in Finance

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From Yahoo! Finance:

Paul Widisky, sole shareholder of recently purchased PPI is receiving a base salary equal to $169,000 per annum and other benefits that are generally available to the vice presidents of Cherish. Mr. Widisky received $2,262,500 in cash and 426,244 shares of Company common stock. In addition, the Company issued to Mr. Widisky warrants to purchase an aggregate of 60,000 shares of Company common stock. Further, Mr. Widisky may receive an aggregate earnout payment of up to $450,000 based on the pre-tax earnings of the PPI Surviving Corporation for the first eight full calendar quarters following the closing.

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