Apollo Solar Energy Inc. (ASOE.OB) announced that it has appointed Wilson Liu as chief financial officer of the company. As per the terms of employment deal, Liu would receive an annual base salary of $87,976 during his first year of employment, which amount would increase to $105,572 and $123,167 in the second and third years of his employment, respectively.
Also, Liu was granted stock options to purchase up to 500,000 shares of the company's common stock, the first 200,000 of which would vest in equal monthly installments during his first year of employment, and the remaining 300,000 of which would vest in equal monthly installments during the second and third years of employment, the company stated.
In connection the hiring of Liu, Xuefeng Li, its current interim finance chief, ceased to act in such role and would continue to serve as chief accounting officer of Sichuan Apollo Solar Science & Technology Co. Ltd, the company's wholly-owned unit.
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