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TMCNet:  SPINDLE, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers

[March 05, 2014]

SPINDLE, INC. 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 Agreements of Certain Officers On February 27, 2014, Mr. William Clark was appointed to the Board of Directors (the "Board") of Spindle, Inc. (the "Company").


Mr. Clark has served as President and Principal Financial Officer of the Company since January 18, 2012 and as Chief Executive Officer since April 17, 2013. Mr.

Clark has no family relationship with any of the officers or directors of the Company and there is no arrangement or understanding between Mr. Clark and any third party pursuant to which he was selected as a director. Mr. Clark is entitled to reimbursement for reasonable out of pocket expenses related to his service as a member of the Board, subject to the terms and conditions of the Company's expense reimbursement policies.

Mr. Clark is receiving a salary of $197,000 per year paid in cash and stock. In addition, on January 31, 2014, the Company issued an option for the purchase of 150,000 shares of common stock to Mr. Clark at an exercise price of $0.50 per share. Other than as otherwise disclosed herein, Mr. Clark has not had any transactions with the Company during the past fiscal year through the present that would require reporting pursuant to Item 404(a) of Regulation S-K.

Mr. Clark has not been appointed to a committee.

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