UNITED STATES SECURITIES AND EXCHANGE
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): January 16, 2018
WYTEC INTERNATIONAL, INC.
(Exact name of registrant as specified
in its charter)
(State or other jurisdiction of incorporation)
|(Commission File Number)
||(I.R.S. Employer Identification No.)|
19206 Huebner Road, Suite 202,
San Antonio, Texas 78258
of principal executive offices) (Zip Code)
telephone number, including area code)
(Former name, former
address and former fiscal year, if changed since last report)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.
communications pursuant to Rule 425 under the Securities Act (17 CFR240.14d-2(b))|
material pursuant to Rule 14a-12 under Exchange Act (17 CFR240.14a-12)|
||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))|
|| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR240.13e-4(c))|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule
405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2
of this chapter). Emerging growth company /_/
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. /_/
SECTION 5. CORPORATE GOVERNANCE
Item 5.02. Departure
of Directors and Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
On January 16, 2018, Wytec International, Inc., a Nevada corporation (the “Company”) appointed Robert W. Merola as
the new chief technical officer of the Company.
Arrangements. On January 16, 2018, the Company entered into an “at will” employment agreement with Mr. Robert W.
Merola, the new chief technical officer of the Company (the “Agreement”). Pursuant to the Agreement, Mr. Merola will
receive an annual salary of $150,000, which will be paid in twenty-four installments of $6,250 each on the fifth and twentieth
day of each month. Additionally, pursuant to the Agreement, Mr. Merola will receive a cash signing bonus in the amount of $50,000,
payable in twelve equal installments of $4,166.66 during his first twelve pay periods of 2018, and a quarterly cash bonus in the
amount of $15,000 during the term of the Agreement. Notwithstanding the fact that Mr. Merola’s employment may be terminated
by the Company or Mr. Merola for any reason or no reason, if the Agreement is terminated during the first year of its term by Mr.
Merola for cause or removal from his position as the chief technical officer of the Company, or by the Company in any manner except
in accordance with Section 13.1, 13.3, 13.4, or 13.5 of the Agreement, then (i) the Company will immediately pay to Mr. Merola
a lump sum payment equal to Mr. Merola’s remaining annual compensation and accrued but unpaid bonus (if any, with respect
to bonus) payable through the end of the first year of the term of this Agreement pursuant to Sections 6.1 and 6.2 of the Agreement,
respectively, (ii) Mr. Merola will be entitled to all of the benefits under Section 7 of the Agreement, as amended, through the
end of the first year of the term of the Agreement, and (iii) if applicable, all unvested stock options owned by Mr. Merola will
immediately vest and Mr. Merola shall be entitled to exercise all vested stock options which Mr. Merola owns for a period of 90
days from the date of termination.
age 55, has over 20 years of experience in networking, fiber optics, and wireless networks. He was the chief technical officer
of the Company from January 2014 to August 2015, a director of the Company from April 2014 to August 2015, and a key employee of
the Company from July 2012 to January 2014. He was also the chief technical officer of Competitive Companies, Inc., a Nevada corporation
and the former parent company of the Company (“CCI”), from January 2014 to August 2015, a director of CCI from April
2014 to August 2015, and a key employee of CCI from July 2012 to January 2014. Prior to rejoining the Company, from September 2016
to January 2018, Mr. Merola was the vice president of business development of Goodman Networks, Inc., which manages regional and
national installation and maintenance programs for network operators, e-retailers, and electronic manufacturers. From August 2015
to December 2017, Mr. Merola was the owner of Alorem Networks, a network design consulting company. From September 2011 to July
2012, Mr. Merola worked as a sales engineer for Alliance Corporation. From April 2008 to September 2011, he was the wireless network
manager for GAW High Speed Internet, Inc. where his responsibilities included the design, installation, and project management
of point-to-point and point-to-multipoint design and installation. Mr. Merola has experience installing microwave dishes and supporting
hardware on tower sites and rooftops. He has also worked with and for major cellular carriers and consulted and lectured as a wireless
SECTION 9. FINANCIAL STATEMENTS,
PRO FORMA FINANCIALS & EXHIBITS
10.1. Employment Agreement, dated January 16, 2018.
Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
WYTEC INTERNATIONAL, INC.
January 17, 2018
/s/ William H.
William H. Gray, Chief Executive Officer