Artificial Intelligence Technology Solutions Inc (AITX)

[JustJack]

In connection with Garett Parsons’ resignation, the Company entered into a consulting agreement with Mr. Parsons effective March 2, 2021 (the “Consulting Agreement”). The Consulting Agreement, which was approved by our Board, provides for, among other things, Mr. Parsons to receive compensation over a term of thirty-six (36) months according to the following compensation schedule: $8,000 per month for the first twelve (12) months; $9,000 per month for the subsequent twelve (12) months; and $10,000 per month for the final twelve (12) months. The Consulting Agreement contains Confidentiality, Compensation and Reimbursement, Termination and other standard provisions.