CYTRX SHAREHOLDER DEMANDS TO PASS 10/27/17 PROXY

0 have signed. Let’s get to 500!


This Petition will be Submitted to Ceo Steven Kriegsman, CFO John Caloz, and Investor Relations David Haen and Members of the Board of Directors On 10/18/2017

Attention BOD: Shareholders require the following demands be accepted in order to agree with the Board Recommendation of “For” in reference to the Amended Proxy Vote Date on 10/27/2017. Shareholders feel, that for Cytrx to be successful moving forward, the following demands will assure shareholders that investment value will be maintained if Amended Proxy is voted per Board of Directors recommendation of “For” if demands are met, shareholders that have signed this Petition agree to Vote in Favor of the Boards Recommendation. 

 Shareholders of Cytrx common stock propose the following terms. 

 

Demands for Board Changes

  •  Steven A. Kriegsman resigns as Chairman of the Board. 
  •  Majority Shareholders select a suitable replacement for the Position of Chairman of the Board
  •  Louis Ignarro: Ph.D. Retains current position on Board of Directors
  •  Earl W. Brien: Retains current position on Board of Directors
  •  Joel K. Caldwell,CPA: Resigns his seat as Board Member and forfeits unvested options
  •  Vacant Board of Directors position suitable replacement selected by Majority Shareholders 

Demands for Salary Changes

  • CEO Takes a 75% Annual Salary reduction and forfeits Bonus’s per the 2008 Employment Agreement and related amendments 
  •  John Y. Caloz Takes 35% Annual Salary reduction and forfeits Bonus’s per the 2008 Employment Agreement and related amendments 
  •  Shanta Chawla, M.D. Annual Salary and Bonus’s remain as is without increase until salary reduction guidelines are met
  •  David J. Haen: 75% Annual Salary reduction and forfeits Bonus’s per the 2008 Employment Agreement and related amendments 
  • Felix Kratz: Annual Salary and Bonus’s remain as is without increase until salary Reduction guidelines are met
  •  Salary reduction’s will remain in effect until Cytrx records positive cash flow with continued revenue for a minimum of 1 (one) Fiscal Year
  •  Radford and salary.com survey data to validate that they were within acceptable ranges based on market salaries based on comparable Biotech companies with similar Market Cap. 
  •  Market cap for base salaries will be based on 52 week average Market Cap 

Investor Information 

  • Release SCLC data 
  •  Update of current Status of STS
  •  Initiation date of NDA 
  •  Expected completion date of NDA

Amendments to Petition at the Request of Shareholders:

  • CEO and Management will not be allowed to be part of the Board of Directors and will not have the ability to vote on Board matters. 
  • Steven A. Kriegsman Severance agreement and retirement plan forfeited 
  • Written guarantee of no more stock sales until after approved at next annual meeting
  • No partnerships or sales of assets until after approved at next annual meeting
  • Resignation of Louis Ignarro: Ph.D. Resigns his seat as Board Member and forfeits unvested options
  • Vacant Board of Directors position suitable replacement selected by Majority Shareholders 
  • Joel K. Caldwell,CPA: Retains current position on Board of Directors

 

Please email share count to: jj6281@outlook.com



Today: CYTRX is counting on you

CYTRX SHAREHOLDERS needs your help with “Cytrx Shareholders: CYTRX SHAREHOLDER DEMANDS TO PASS 10/27/17 PROXY”. Join CYTRX and 288 supporters today.