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RiT Announces Changes In Management Team Aimed At Taking Company To A Whole New Level

To assure that the goals of the Company's new officers are aligned with those of the Board of Directors, it has offered them equity compensation as part of their employment packages. Dr. Leiderman has been granted options to purchase up to 1.2% of the company's outstanding shares; Mr. Hania has been granted options to purchase up to 1%; and Dr. Ben Eshay has been granted options to purchase up to 0.5%.

In addition, in evaluating Mr. Ayzik's contribution, the Company has approved an additional retirement package, which includes three months' salary (in addition to his contractual three months' adjustment period) and an extension of Mr. Ayzik's vested options until the end of March 2014.  

About RiT Technologies

RiT is a leading provider of comprehensive management solutions for today's mission-critical data centers and communication rooms. Through the deployment of RiT's integrated DCIM (data center infrastructure management), IIM (intelligent infrastructure management), SMART Cabling™ and EPV™ real-time infrastructure management solutions, companies enhance both CAPEX and OPEX, increase their efficiency and improve their automated processes. RiT's field-tested solutions are delivering value in thousands of installations for top-tier enterprises and operators throughout the world. RiT's shares are traded on the Nasdaq exchange under the symbol RITT. http://www.rittech.com

Safe Harbor Statement

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate", "forecast", "target", "could" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  For example, when we discuss a field trial which could lead to a multi-million dollar Carrier deal, we are using a forward looking statement. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described under the heading "Risk Factors" in our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 20-F, which may be revised or supplemented in subsequent reports filed with the SEC.  These factors include, but are not limited to, the following: our ability to raise additional financing, if required; the continued development of market trends in directions that benefit our sales; our ability to maintain and grow our revenues; our dependence upon independent distributors, representatives and strategic partners; our ability to develop new products and enhance our existing products; the availability of third-party components used in our products; the economic condition of our customers; the impact of government regulation; and the economic and political situation in  Israel .  We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

COMPANY CONTACT:      Moti Antebi, CFO +972-77-270-7210 moti.antebi@rittech.com

SOURCE RiT Technologies Ltd

Stock quotes in this article: RITT 
Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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