In a recent shift within Vivic Corp's executive team, the company has appointed Mr. Kun-Teng Liao as its new Chief Operating Officer (COO), following his resignation from the Board of Directors and his role as Secretary on October 9, 2024. This move comes after Tse-Ling Wang stepped down from Vivic's Board of Directors on January 25, 2025. His departure was not due to any disagreements with company operations or practices.
Mr. Liao's history with Vivic dates back to August 2021, when he initially served as a director and secretary until his resignation in October 2024. He has since transitioned to the role of COO, with his official appointment taking effect on January 25, 2025. Prior to rejoining Vivic, Liao held the position of Chairman at Sino-Phoenix Limited and EcallBuy Trading Company Limited, gaining extensive experience in corporate governance and international trade.
Vivic Corp has entered into an employment agreement with Mr. Liao, which began on October 1, 2024. The terms of the agreement stipulate that Mr. Liao will receive 50,000 shares of the company's common stock for his services through September 30, 2025, and an additional 20,000 shares annually thereafter. The agreement, which can be terminated by Vivic at any time, includes standard confidentiality clauses and non-compete provisions extending two years post-termination, as well as an 18-month non-solicitation clause.
The company, which operates under the services-miscellaneous amusement & recreation industry and is incorporated in Nevada, has its common stock traded on the OTCQB under the symbol VIVC. This information is based on a press release statement from Vivic Corp.
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