On December 21, 2020, Veritas Farms entered
into a separation agreement effective as of September 16, 2020 (the “
”), with the Company’s
Executive Vice President, Erduis Sanabria (the “
”), 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.
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
to this Current Report on Form 8-K and incorporated by reference in this
Financial Statements and Exhibits.
dated December 21, 2020, effective as of September 16, 2020, by and between Veritas Farms, Inc. and Erduis Sanabria
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.
/s/ Alexander M. Salgado
Alexander M. Salgado,
Chief Executive Officer
makes a similar move, sign up!
Other recent filings from the company include the following:
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