On October 1, 2018, ClearSign Combustion Corporation announced that Stephen E. Pirnat, Chief Executive Officer and a director, intended to retire on December 31, 2018. On December 31, 2018, Mr. Pirnat retired from active service and resigned as company's Chief Executive Officer and a director. The Consulting Agreement has a term of two years, beginning on January 1, 2019 and ending on December 31, 2020.

On January 1, 2019, Mr. Robert T. Hoffman Sr., Chairperson of the Board of Directors, the company was appointed as interim Chief Executive Officer. Mr. Hoffman will not be compensated for his services as interim Chief Executive Officer. Mr. Hoffman has been a member of company's Board of Directors since July 20, 2018 and was appointed as the Chairperson on November 6, 2018.

Mr. Hoffman is the Managing Director of Princeton Opportunity Management LLC, which he founded in February 2011. Mr. Hoffman is also the managing member of GPclirSPV LLC, which is the managing member of clirSPV LLC, company's shareholder. Mr. Hoffman also served as the founder and managing partner of Candlewood Capital, a long/short fund which managed more than $1 billion in primarily institutional assets.

He was also a Managing Director and Portfolio Manager for the Scudder Stevens and Clark Growth & Income (G&I) product, where he was responsible for all buy and sell decisions. During his tenure, G&I assets under his management expanded from approximately $1.75 billion to more than $25 billion. Mr. Hoffman was also nominated by two separate Governors to serve three terms as a member and Chairperson of the State of New Jersey Investment Council from 1990 to 2002.

To fill the vacancy created by Mr. Pirnat's retirement, Jim Simmons of ICM Asset Management will be appointed to the Board, effective January 8, 2019, subject to customary background checks. Mr. Simmons is the founder and CIO of ICM Asset Management, an investment advisory firm founded in 1981. Jim has been a Chartered Financial Analyst since 1985 and has over four decades of experience in security analysis portfolio management.

As ICM's Chief Investment Officer, he leads portfolio strategy for all portfolios with a particular emphasis on undiscovered and turn-around small cap companies. In addition, Jim has been active over the years in assisting small start-up companies in Spokane and the Northwest. As Chairman of the Board of ICM he also provides the overarching strategic direction for the firm.

Before founding ICM, Jim served as the head of Old National Bank's trust investment department, and prior to this, as a portfolio manager with the bank now known as Comerica. Jim earned a bachelor's degree in economics from Michigan State University, and is a member of both CFA Institute and the CFA Society of Spokane. The Company will also nominate Bruce Pate of Pate Capital Partners LP to the Board at the next annual meeting.

Mr. Pate is the General Partner of the investment partnership, which he founded in 2004 to invest in publicly traded companies with a special emphasis in energy and resource-related sectors. Prior to founding Pate Capital Partners, Mr. Pate spent more than 20 years at Morgan Stanley & Co. as a principal of the firm, where he managed fixed income and equity portfolios for entrepreneurs, foundations and corporations.

Mr. Pate has been granted Board observer status, effective immediately. Dr. Roberto Ruiz, COO of ClearSign retired effective January 4, 2019.  Dr. Ruiz has also agreed to continue advising the Company on a consulting basis going forward.