On March 27, 2017, SilverSun Technologies, Inc. and John Schachtel entered into a director agreement in connection with Mr. Schachtel's appointment to the Board of Directors of the company. The term of the Director Agreement commences on the Effective Date, and continues through the Company's next annual stockholders' meeting. The Director Agreement automatically renews on such date that Mr. Schachtel is re-elected to the Board. Before joining the Board, Mr. Schachtel was the Chief Operating Officer of OneMain financial Holdings, Inc. On March 27, 2017, the Board formed a compensation committee and a nominating and corporate governance committee of the Board. Prior to creating the committees, the Company had in place an audit committee of which Joseph Macaluso served as the chairman and sole member of. In connection with forming the Compensation Committee and the N&CG Committee, the Board appointed each of Mr. Schachtel, Mr. Macaluso, and Stanley Wunderlich to serve on both committees. The Board also appointed Mr. Schachtel as the chairman of the Compensation Committee and Mr. Wunderlich as chairman of the N&CG Committee. Additionally, the Board appointed Mr. Schachtel and Mr. Wunderlich to the Audit Committee.