(COMTEX) Shopping.com Of California Files SEC FORM 8K
Shopping.com Of California Files SEC FORM 8K
WASHINGTON, DC, Jun. 11, 1998 (States) -- ITEM 5: Robert J. McNulty
resigned from his positions as President andCEO and as a board member
of Shopping.com for personal reasons. The Company has appointed John
Markley as Chief Executive Officer and President to replace Mr.
McNulty and assume these responsibilities
effective immediately.Mr. Markley has also been appointed to the board
of directors to fill the vacancy created by Mr. McNulty's resignation.
Effective June 1, 1998, the Company entered into a Termination and
Buy-Out Agreement with Mr. McNulty terminating his Employment
Agreement dated May 1, 1997 whereby he will receive cash consideration,
which is to be paid over the next two years and options to purchase
shares of the Company's common stock. Effective June 1, 1998, the
Company entered into a three year consulting agreement with Cyber
Depot, Inc., a California corporation whereby Cyber Depot's principal,
Mr. Robert McNulty, will act as a consultant to the Company providing
general services relating to the operation, promotion, strategic
planning marketing, geographic expansion and financing of the Company's
business.
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