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IVEDA CORP FILES (8-K) Disclosing Change in Directors or Principal Officers
(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
(b) On July 22, 2010, Robert Brilon, Interim Chief Financial Officer and
Treasurer of Iveda Corporation (the "Company"), resigned from his positions with
the Company and its wholly-owned subsidiary, IntelaSight, Inc., effective
immediately. There was no disagreement between Mr. Brilon and the Company at the
time of Mr. Brilon's resignation. Mr. Brilon will remain as an employee through
August 2, 2010, and will continue to assist the Company on a contract basis at
the Company's sole discretion.
(c) On July 22, 2010, Steven G. Wollach, age 56, was appointed Chief Financial
Officer of the Company. Mr. Wollach's employment is at-will. He will receive a
salary of $85,000 per year and 200,000 stock options to purchase Company stock,
as approved by the Company's Board of Directors. Upon approval by the Board of
Directors at the next meeting of the Board of Directors, Mr. Wollach will also
serve as Treasurer of the Company. From 2000 until just prior to joining the
Company, Mr. Wollach provided services to both private and public companies as
principal of SW Enterprises, including strategic planning, corporate finance,
SEC filings, business development, raising capital, financial statement
preparation and reporting, business development, investor relations and mergers
and acquisitions. Mr. Wollach served as Chairman, CEO, and CFO for Interactive
Objects, Inc. (OBJX.OTC.BB), a developer of modular software development tools
and componentized application frameworks, from 1997 to 2000. His career in
finance started working for National Big 5 CPA firms from 1974 to 1984. From
1984 to 1994, Mr. Wollach held sales positions at various companies: National
Sales Manager for Fukuda Denshi America Corp. from 1992 to 1994; Sales Manager
for Eastside Medical Laboratories from 1988 to 1992; Sales Representative for
Spacelabs/Interspec from 1984 to 1988. Mr. Wollach went back to finance as the
Principal of Venture Fund Analyst from 1994 to 1997.
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