Departure of Directors or Certain


 


On December 21, 2020, Veritas Farms entered
into a separation agreement effective as of September 16, 2020 (the “

Effective Date

”), with the Company’s
Executive Vice President, Erduis Sanabria (the “

Separation Agreement

”), pursuant to which the Company agreed
to pay Mr. Sanabria a severance equal to three years’ of his base salary and the continuation of vested stock options to
purchase 1,000,000 shares held by Mr. Sanabria until the end of that three-year period in consideration for Mr. Sanabria’s
resignation from all officer and Board positions held with the Company.  The Separation Agreement additionally contains,
among other things, customary releases, confidentiality, and non-disparagement provisions.


 


The foregoing description of the Separation
Agreement is only a summary and is qualified in its entirety by reference to the complete text of the Separation Agreement, which
is filed as

Exhibit 10.1

to this Current Report on Form 8-K and incorporated by reference in this

Item 5.02

.


 



Item 9.01

Financial Statements and Exhibits.


 


(d) Exhibits


 




Exhibit


Number


 


Description



 


 


 



10.1


 


Separation Agreement,
dated December 21, 2020, effective as of September 16, 2020, by and between Veritas Farms, Inc. and Erduis Sanabria



 




 

1


 



 


SIGNATURES


 


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.


 




Dated:  December 21, 2020


VERITAS FARMS, INC.



 


 


 



 


By:


/s/ Alexander M. Salgado



 


 


Alexander M. Salgado,



 


 


Chief Executive Officer



 


 


 


2



 


 


 



makes a similar move, sign up!

Other recent filings from the company include the following:

Entry into a Material Definitive - Oct. 15, 2021
Unregistered Sale of Equity - Oct. 4, 2021
Cornelis F. Wit TTEE, Cornelis F. Wit Revocable Trust just provided an update on share ownership of Armeau Brands Inc - Sept. 29, 2021

Auto Refresh

Feedback