ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Departure of Steven Dawson as Chief Financial Officer
Steven Dawson and Data443 Risk Mitigation, Inc. (the "Company") mutually agreed
that Mr. Dawson would depart as the Chief Financial Officer of the Company as of
and on 24 January 2020. On December 19, 2019, Mr. Dawson informed the Company
that he would pursue other professional opportunities, and that his decision was
also based on his completion of numerous objectives established for fiscal 2019.
Mr. Dawson and the Company have negotiated for Mr. Dawson's departure since that
time, with Mr. Dawson having minimal involvement with the Company since then. On
the 24th of January, 2020, Mr. Dawson and the Company formally agreed on the
terms for Mr. Dawson's departure, and they agreed to execute a mutual release
agreement, to be prepared as soon as possible (the "Release Agreement"). It is
anticipated that the Release Agreement will provide as follows:
? Mr. Dawson's employment with the Company, and his Employment Agreement,
terminated as of 24 January 2020.
? All equity compensation previously earned by and owed to Mr. Dawson as 31
December 2019 will be deemed cancelled as of 31 December 2019.
? The Company will issue to Mr. Dawson 500,000 shares of common stock as full
and complete equity compensation for his services rendered to the Company. The
shares will be issued to Mr. Dawson under the Company's previously filed Form
S-8.
? Mr. Dawson and the Company will mutually release each other from all known and
unknown claims.
The foregoing description of the terms and conditions of the Release Agreement
does not purport to be complete and is qualified in its entirety by reference to
the full text of the Agreement, which will be filed by the Company subsequent to
its execution by Mr. Dawson and the Company.
Appointment of Jason Remillard as Interim Chief Financial Officer
On, and effective, 24 January 2020, Jason Remillard was appointed as interim
chief financial officer of the Company. Mr. Remillard is the chief executive
officer of the Company, and is the founder of the Company's wholly-owned
subsidiary, Data443 Risk Mitigation, Inc. Mr. Remillard previously served as the
Company's chief financial officer from December, 2017 up to and until the hiring
of Mr. Dawson in May, 2019.
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