ITEM 5.02 - DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
? Compensation. (a) Annual salary of$180,000 per year;
(b) Stock award of 2.7 million shares of the Company's common stock vesting ratably during the calendar year of 2020;
(c) Bonus compensation up to twenty-five (25)% of annual salary under Section 5(a) based on certain financial performance objectives as described in Section 5(c ); and,
(d) Health and medical insurance as available for full-time employees, and participation in any retirement, pension, profit-sharing, stock option, or other plan as in effect from time to time on the same basis as other employees.
ITEM 9.01 - FINANCIAL STATEMENTS AND EXHIBITS.
10.1Michael F. Sullivan compensation agreement.
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