On January 10, 2017, Spotlight Innovation Inc. (the "Company") entered into an Employment Agreement with Cristopher Grunewald pursuant to which he is continuing to serve as the Companys Chief Executive Officer. Pursuant to Mr. Grunewalds agreement he will receive a salary of $180,000 per annum. The agreement shall continue until the second anniversary thereof, unless terminated earlier pursuant to the agreement. Mr. Grunewalds employment may be terminated by either the Company or by Mr. Grunewald at any time and for any reason; provided that, unless otherwise provided in the agreement, either party shall be required to give the other party at least 30 days advance written notice of any termination of Mr. Grunewalds employment. In the event that Mr. Grunewalds employment is terminated Without Cause by the Company or by Mr. Grunewald for Good Reason (as these terms are defined in the agreement) or subject to the terms of the agreement as a result of a Change in Control (as defined in the agreement), Mr.Grunewald shall be entitled to monthly payments equal to 12 months salary for the year in which the termination occurred as well as to receive payment for any Accrued Amounts (as defined in the agreement).
The foregoing description of the Employment Agreement between the Company and Cristopher Grunewald is qualified by referece to the full text of the Employment Agrement, a copy of which is attached an an exhibit hereto.
Item 9.01 Financial Statements and Exhibits.
The following document is filed as Exhibit:
Employment Agreement between Spotlight Innovation Inc. and Cristopher Grunewald
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SPOTLIGHT INNOVATION INC.
Dated: January 11, 2017
/s/ John William Pim
John William Pim
Chief Financial Officer
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