Sunshine Biopharma Inc (SBFM)

[CyberJ]

Job well..done! SBFMs'..CEO...rewarded, 4.years, raised..salary to..$360,000 & benefits

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers


On April 8, 2022, Sunshine Biopharma, Inc. (the “Company”) entered into an employment agreement with Dr. Steve N. Slilaty, the Company’s chief executive officer. Pursuant to the employment agreement, Dr. Slilaty will continue to serve as the Company’s chief executive officer and will be paid a base annual salary of $360,000 (which will increase annually at the rate of the Consumer Price Index or 5%, whichever is higher). The employment agreement has a term of four years, and will renew automatically for a term of an additional three years. In the event the employment agreement is terminated by the Company without cause, or by Dr. Slilaty for valid reason (each as defined in the employment agreement), the Company will pay Dr. Slilaty $10 million. Upon expiration of the employment agreement, the Company will pay Dr. Slilaty $2 million.