Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
On June 27, 2014, the board of directors appointed Paul Turino as a new
Just prior to this appointment, the board accepted the resignation of Alfred A.
Rapetti as a member of our board of directors. There was no known disagreement
with Mr. Rapetti regarding our operations, policies, or practices.
Paul Turino has been our Chief Operating Officer since May 2014. He was the
Managing Director of Velocity Media Ventures, LLC, a position he held from
January 2009 until his appointment with Cubed, Inc. At Velocity, Mr. Turino
provided board-level advisory services for corporate clients, as well as venture
capital and private equity firms on the strategic alignment and innovative use
and implementation of technology to enhance business opportunities, competitive
capabilities and investment strategies.
Prior to serving at Velocity, Mr. Turino was with Citigroup, Inc., where he
served as Executive Vice President of Technology Strategy and Innovation. In
this position, Mr. Turino oversaw all aspects of global strategic and
operational planning for technology. He is credited for spearheading the efforts
behind the joint venture between Citigroup and SK Telecom "Mobile Money
Venutres", and the founding of its global corporate venturing arm "Citi
With over 25 years of experience, Mr. Turino has an accomplished and respected
track record in technology. He has held senior executive positions at companies
such as Sanofi-Aventis, AXA, Chase, Cablevision Systems Corporation, Chyron
Corporation, and Korg, U.S.A. where he distinguished himself by achieving
notable industry firsts.
Mr. Turino earned a B.S.E.E. in Computer Engineering from Hofstra University.
Our newly-appointed director has not had any material direct or indirect
interest in any of our transactions or proposed transactions over the last two
We retained Mr. Turino, as an officer, under an Employment Agreement dated May
16, 2014 (the "Agreement"). This Employment agreement was previously reported
and incorporated by reference herein.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Exhibit No. Description
10.1 Employment Agreement with Paul Torino(1)
(1) Incorporated by reference to the Current Report on Form 8-K filed with theU.S. Securities and Exchange Commission
on May 29, 2014