Tuesday, February 27, 2018 1:25:31 PM
All Officers and Executives of the Company devote substantially all of their time to the Company. Our intention is to replace the following consulting agreements with full-time employment agreements within 90 days of this filing.
Patrick Moynihan
On November 15, 2017, the Company and Mr. Moynihan entered into a five-year consulting agreement, which expires on November 14, 2022. Mr. Moynihan will receive a monthly fee of $20,000 under his agreement. The Company expects to enter into a definitive employment agreement with Mr. Moynihan during the fourth fiscal quarter of 2018, which ends on April 30, 2018
Max Robbins
On February 1, 2018, the Company entered into an agreement appointing Mr. Robbins to the Board of Directors. Mr. Robbin’s appointment as Director shall be subject to the Bylaws of the Company. Mr. Robbins will receive 120,000 options exercisable at $1.00 of which 40,000 will vest annually on June 1, 2018, June 2, 2019 and June 1, 2010, and all 120,000 expire on December 31, 2023.
Zack Pontgrave
On December 1, 2017, the Company entered into a five-year consulting agreement with Mr. Pontgrave ending on November 30, 2022 (the “Pontgrave Initial Agreement”) pursuant to which Mr. Pontgrave will be paid compensation at the rate of $10,000 per month. Effective February 1, 2018, the Company and Mr. Pontgrave agreed to terminate the Pontgrave Initial Agreement and entered into a new consulting agreement pursuant to which he will be paid annual compensation of $215,000 (the “Pontgrave New Agreement”). The Company expects to enter into a definitive employment agreement with Mr. Pontgrave during the fourth fiscal quarter ending April 30, 2018.
Bryan Larkin
On December 1, 2017, the Company entered into a six-month consulting agreement with Mr. Larkin ending on June 1, 2018 (the “Larkin Initial Agreement”) pursuant to which was to be a total of $60,0000. Effective January 1, 2018, the Company and Mr. Larkin agreed to terminate the Larkin Initial Agreement and entered into a new consulting agreement pursuant to which Mr. Larkin will be paid annual compensation of $200,000 (the “Larkin New Agreement”). The Company expects to enter into a definitive employment agreement with Mr. Larkin during the fourth fiscal quarter of 2018 ending April 30, 2018.
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