On March 23, 2018, The ONE Group Hospitality, Inc. entered into a letter agreement with David Kanen and Kanen Wealth Management LLC regarding the composition of the Company's Board of Directors. Effective March 28, 2018, pursuant to the Agreement, the Board appointed Dimitrios J. Angelis as a Class I director with a term expiring at the Company's 2020 annual meeting of stockholders. The appointment of Mr. Angelis increases the size of the Board from five to six members. Mr. Angelis is currently Principal at Life Sciences Legal, serving as outside general counsel on all legal matters to several biotech, pharmaceutical, and medical device companies. Mr. Angelis currently serves as a director of Digirad Corporation and AmeriHoldings.