Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On January 1, 2020, the Compensation Committee of the Board of Directors of
Coda Octopus Group, Inc. (the "Company") resolved to increase the cash
compensation of Mike Midgley, the Company's Chief Financial Officer and
Divisional CEO of the Company's wholly owned subsidiary, Coda Octopus Colmek,
Inc., to $210,000 per annum, effective January 1, 2020. Under Mr. Midgley's
employment agreement, dated June 1, 2011, he was previously paid an annual
salary of $200,000, subject to a yearly review. No other changes were made to
Mr. Midgley's employment agreement.
Also on January 1, 2020, the Compensation Committee of the Board of Directors of
the Company resolved to increase the cash compensation of Blair Cunningham, the
Company's President of Technology, to $200,000 per annum, effective January 1,
2020. Under Mr. Cunningham's employment agreement, dated January 1, 2013, he was
previously paid an annual salary of $175,000, subject to a yearly review. No
other changes were made to Mr. Cunningham's employment agreement.
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CODA OCTOPUS GROUP, INC. 
