On November 7, 2016, SQL Technologies Corp.'s board of directors approved the hiring of Mark J. Wells as the company's President To accommodate Mr. Wells’ hiring, John P. Campi withdrew from his position as the company’s President, effective upon Mr. Well’s appointment, and will continue in his position as the Company’s Chief Executive Officer. Mr. Wells has held various senior leadership positions within the General Electric Company. From December 2007 to June 2011, Mr. Wells was the General Manager of Consumer Lighting. From October 2005 to January 2007, Mr. Wells was the President and Chief Executive Officer for GE Consumer & Industrial for Greater China. On November 7, 2016, the Company's Board of Directors approved the appointment of Rani Kohen, the Company's Chairman of the Board, as the Company's Executive Chairman of the Board, pursuant to the terms and conditions of a Chairman Agreement, dated effective September 1, 2016, between Mr. Kohen and the Company (the "Chairman's Agreement") which supersedes and replaces the Consulting Agreement between the Company and Mr. Kohen dated November 25, 2013. The Chairman's Agreement provides that Mr. Kohen will serve for an initial term of three years (the "Initial Chairman's Term"), which may be renewed by the mutual agreement of Mr. Kohen and the Company.