CannaSys Inc. (fka MJTK)

[Goat_1]

FORM 8-K http://ih.advfn.com/p.php?pid=nmona&article=75217069&symbol=MJTK

More detail, edit : http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12171103


ITEM 5.02—DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS



On July 1, 2017, CannaSys, Inc. and Patrick G. Burke entered to an executive employment agreement to engage Mr. Burke’s services as chief executive officer, chief financial officer, and corporate secretary for a term of one year, with automatic renewal for successive one-year terms at each anniversary date, unless terminated. Mr. Burke’s compensation will consist of an annual base salary of $84,000. The Company and Mr. Burke also entered into a Grant of Restricted Stock for 2,250,000 shares of common stock, to vest in equal quarterly increments over a one-year period.



At the same time, Michael Tew resigned as chief executive officer, chief financial officer, and corporate secretary, his employment agreement was terminated, and he entered into a consulting agreement and a separation and mutual release agreement with the Company. In connection therewith, the Company issued to Mr. Tew a promissory note in the amount of $44,380 for his past-due compensation and severance payment.



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