MARK KUCHER, has served as a Director of the Company and the Company's Principal Financial Officer since April 2004.From April 2004 to September 2004, he was also the Company's President, Chief Executive Officer, Secretary and TreasurerSince January 1992, he has also served as an officer, director and shareholder of British Swiss Investment Corp., a private Swiss corporation acting on behalf of Swiss pension funds in the disposition of various resource investments in Canada, predominantly in oil and gas and gold mining.Mr. Kucher
has commercial, business development and corporate finance experience with an emphasis in the mining industry.Mr. Kucher
has also had various positions with investment banks and brokerage firms.Mr. Kucher holds an MBA from the University of Western Ontario and a Bachelor of Commerce Degree from The University of Manitoba.
Mr. McKay had assisted Mark Kucher
in these capacities since June 2004.
...The spouse of Mark Kucher, the Company's Chief Financial Officer and a Director of the Company, purchased 40,000 of these shares.
...Mr. Kucher serves as the Company's Chief Executive Officer and Chairman of the Company's board of directors pursuant to his employment agreement.
In April 2005 the Company granted options to each member of the Board of Directors (Mark Kucher, James McKay, Wade Hodges, Brian Labadie and Anthony Crews) to purchase 300,000 shares of the Company's common stock with an exercise price of $0.40 per share and a vesting date of April 15, 2005.
...Mark Kucher has entered into an employment agreement with the Company pursuant to which Mr. Kucher serves as the Company's Chief Financial Officer and as a Director of the Company.
The terms of the agreement provide that it is retroactively effective on January 1, 2004.Mr. Kucher
receives a base salary of $7,500 per month, effective retroactively from January 2004 that is not payable until the Company is fully vested in Pediment
has the option to receive his
salary in shares, at market value, at any time.Mr. Kucher
also receives three (3) weeks of paid vacation.The agreement provides for the grant of an option to Mr. Kucher
to purchase 500,000 shares of the Company's common stock that vests one year after commencement of Mr. Kucher's employment with the Company, provided that if the Company terminates Mr. Kucher's employment prior to such time, the option will automatically vest in its entirety on the date of such termination.On December 15, 2004, in satisfaction of the obligation to grant an option to Mr. Kucher
, the Company's Board of Directors granted Mark Kucher
an option to purchase 500,000 shares of the Company's common stock at an exercise price of $0.99 per share, which option vests in its entirety on May 31, 2005, provided that if the Company terminates Mr. Kucher's employment prior to May 31, 2005, the option will automatically vest in its entirety on the date of termination.Although Mr. Kucher
's employment commenced on January 1, 2004, under the terms of the employment agreement, Mr. Kucher agreed to receive the option with the later vesting date of May 31, 2005.
$137,268, of which $127,500 was owed to Mr. Kucher
and $9,768 was owed to Mr. McKay.
The amount owed to Mr. Kucher
includes $127,500 of accrued base compensation as of such date.
Based on stockholder filings with the SEC
, Anthony Crews, Wade A. Hodges, Mark Kucher
, Brian Labadie, and James E. McKay are subject to Section 16(a) filing requirements.