Subsequent Events

3 Months Ended

Mar. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

15. Subsequent events:

On May 8, 2018, Herm Cukier was appointed Chief Executive Officer and a member of the Board of Directors of the Company. In connection with his appointment, the Company and Mr. Cukier entered into an employment agreement, dated May 2, 2018, for an initial two-year term, starting on May 8, 2018, automatically renewable for one-year terms, unless either party gives notice of non-extension to the other party at least 60 days prior to the end of the applicable term. The employment agreement provides for the following compensation terms for Mr. Cukier: (i) Base salary of $0.57 million per annum, (ii) an annual cash bonus in an amount no less than fifty-five percent (55%) of the base salary (iii) a signing bonus in the amount of $0.05 million); (iv) an initial incentive stock option to purchase Eight Hundred Thousand (800,000) shares of the Common Stock under the Company’s 2011 EIP; and (v) Two Hundred Thousand (200,000) RSUs under the Company’s 2011 EIP.