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Rainmaker Systems, Inc. Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
By: Marketwired .
Feb. 20, 2013 01:00 PM
CAMPBELL, CA -- (Marketwire) -- 02/20/13 -- Rainmaker Systems, Inc. (NASDAQ: RMKR), a leading global cloud e-Commerce company, today announced that the Compensation Committee of Rainmaker's Board of Directors granted an inducement award to Mallorie Burak in connection with her entering into employment as Rainmaker's Chief Financial Officer.
On January 17, 2013, Rainmaker previously announced the hiring of Ms. Burak, with her employment beginning on January 24, 2013. Ms. Burak's inducement award, granted under Rainmaker's 2012 Inducement Equity Incentive Plan adopted by Rainmaker's Board of Directors on December 21, 2012, as amended on February 12, 2013, consists of a grant of 375,000 restricted shares of common stock which will vest 1/16th quarterly over a four year term from the date of grant.
The Compensation Committee of Rainmaker's Board of Directors granted the award on February 19, 2013 as an inducement material to Ms. Burak entering into employment with Rainmaker in accordance with NASDAQ Listing Rule 5635(c)(4).
Rainmaker is a Commerce-as-a-Service (CaaS) company that helps large enterprises gain greater market share and increased brand awareness for their cloud-based or on-premise based product offerings in the worldwide SMB markets. Rainmaker does this with an advanced e-Commerce open architecture SaaS platform that easily integrates cloud-based applications and on-premise applications with its Global Commerce Services to provide its clients with a strategic partnership.
For more information, visit www.rainmakersystems.com or call 800-631-1545.
NOTE: Rainmaker Systems and the Rainmaker logo are registered with the U.S. Patent and Trademark Office. All other service marks or trademarks are the property of their respective owners.
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