Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 5, 2022, Elys Game Technology, Corp. (the "Company" or "Elys")
promoted Carlo Reali, age 53, to the role of Interim Chief Financial Officer and
Principal Accounting Officer. Mr. Reali joined the Company in January 2017 as
finance manager with Multigioco S.r.l., a wholly owned subsidiary, and on
October 15, 2020, was appointed and has served as the Company's Group Financial
Controller based in the Company's administrative office in Frascati, Italy.
Prior to joining the Company, Mr. Reali was the Chairman and Executive Financial
Manager of S.I.S. S.r.l. from January 2001 until its acquisition in July 2015 by
SNAI S.p.A., a leader in the Italian gaming market, and remained with SNAI as
Executive Finance Manager until August 2016. Mr. Reali holds a Science Degree
from Instituto S. Maria in Rome, Italy and a Degree in Economics and Commerce
from University of La Sapienza in Rome, Italy. There are no family relationships
between Mr. Reali and any director of executive officer of the Company.
We do not have a formal employment or other compensation related agreement with
Mr. Reali; however, Mr. Reali will continue to receive the same compensation
that he currently receives which is an annual base salary of $86,000.
On January 5, 2022, Mark Korb resigned as Chief Executive Officer of Elys. In
connection with his resignation, the Company entered into an amendment to Mr.
Korb's employment agreement with the Company (the "Amendment") to provide that
he will be employed by the Company as a non-executive employee with the title
"Head of Corporate Affairs", reporting directly to the Executive Chairman and
that in such capacity he will be responsible for, among other things, various
corporate initiatives and activities related to growth and capital strategies.
All other terms of the employment agreement remain the same.
The foregoing description of the Amendment is qualified in its entirety by
reference to the copy of the Amendment filed as Exhibit
10.1 to this Current Report on Form 8-K and is incorporated by reference in this
Item 5.02.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Exhibit Description
10.1 Amendment, effective January 5, 2022, to Employment Agreement, dated
July 5, 2021, by and between Elys Game Technology, Corp. and Mark J.
Korb
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