Bold is mine :

On January 13, 2017, Dr. Deshmukh resigned as Chief Operating Officer of the Company. No termination payments were paid to Dr. Deshmukh. Dr. Deshmukh will continue to provide services to the Company on an as needed basis until June 30, 2017.

Effective December 30, 2016, Mr. Rajan Rajgopal entered into an Employment Agreement with DenseLight to provide services as the President and General Manager of DenseLight. As per the agreement, Mr. Rajgopal (i) will be paid US$220,000 per year; (ii) will be eligible for annual and special bonuses as determined by the Board of Directors; (iii) be granted 500,000 stock options vesting over 4 years; (iv) will be granted an additional 500,000 stock options no later than June 30, 2017; and (v) will be entitled to compensation of one month’s salary on termination of employment by the Company, if termination is other than for cause.

On March 30, 2017, in order to preserve cash, the directors approved a new directors’ compensation arrangement whereby effective April 1, 2017, the non-executive members of the Board of Directors (other than the CEO and the Executive Chairman) will receive compensation as follows:

(a) Total annual compensation having a combined cash and equity value of $120,000 comprising $30,000 cash and incentive stock options with a Black-Scholes value of $90,000; (b) No additional per meeting fees or fees for being members of a committee of the Board; (c) Committee Chairmen will receive an additional $10,000 in cash and incentive stock options with a Black-Scholes value of $10,000 for each committee chaired;