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Article: President and CEO of Advanced Viral Research Corp. Signs on for an Additional Two Years.
- Article from:
- Business Wire
- Article date:
- May 15, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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YONKERS, N.Y. -- Advanced Viral Research Corp. (OTC Bulletin Board: ADVR) a bio-pharmaceutical company, announced today that Stephen M. Elliston, its current President and CEO, has entered into a new employment contract, which, among other things, extends his employment for an additional two years. Under the new employment agreement, Mr. Elliston has agreed to serve as ADVR's President and CEO through May 14, 2009, at an annual salary of $350,000. In addition, ADVR has granted Mr. Elliston options to acquire 40,000,000 shares of ADVR Common Stock. The options become exercisable in increments of 666,667 shares monthly, and are exercisable over a period of five years at ...