Erwin Eichmann, the chief business officer of TheStreet.com, has left the company to pursue other interests, according to a regulatory filing on Tuesday by the financial news company.
As part of his departure, Eichmann and the company have agreed that he will work as a consultant for TheStreet for the first three months of 2016 and will be paid $18,333 per month. In addition, all stock awards previously issued to Eichmann that currently are unvested and unexercisable shall become vested and exercisable.
Eichmann will also receive his quarterly bonus for the fourth quarter.
The filing disclosed that new board chairman Larry Kramer will receive $20,000 in cash and $40,000 in stock for holding that position.
TheStreet also disclosed that it has renegotiated its severance agreement with CEO Elisabeth DeMarse that will now pay her 24 months of her annual salary, currently at $480,000, if she leaves the company. The agreement previously agreed to pay her 12 months of her salary if she left the company.
The filing can be read here.
