End of year 8-k out. Peruvemba resigns from QMC.
Post# of 22454
Posted On: 12/30/2016 4:12:27 PM
End of year 8-k out. Peruvemba resigns from QMC. And More. Wow.
Item 1.02 Termination of a Material Definitive Agreement
On December 22, 2016, Quantum Materials Corp. (the “Company”) and Sriram Peruvemba entered into a Resignation Agreement pursuant to which Mr. Peruvemba resigned from his positions of officer and director of the Company and agreed to terminate his employment agreement dated June 13, 2016, except as otherwise specified in the Resignation Agreement appended hereto as Exhibit 10.1.
Pursuant to the terms of the Resignation Agreement, the Company agreed to pay $30,000 of accrued wages to Mr. Peruvemba on or before February 15, 2017 and to make six monthly payments of $20,000 to Mr. Peruvemba between February and July 2017. The Company also agreed to pay Mr., Peruvemba’s health insurance through June 2017 and to confirm the vesting of vested and unvested options or warrants totaling 3,754,150.
Carlson and Martin also leaving board.. Big changes afoot...
Item 1.02 Termination of a Material Definitive Agreement
On December 22, 2016, Quantum Materials Corp. (the “Company”) and Sriram Peruvemba entered into a Resignation Agreement pursuant to which Mr. Peruvemba resigned from his positions of officer and director of the Company and agreed to terminate his employment agreement dated June 13, 2016, except as otherwise specified in the Resignation Agreement appended hereto as Exhibit 10.1.
Pursuant to the terms of the Resignation Agreement, the Company agreed to pay $30,000 of accrued wages to Mr. Peruvemba on or before February 15, 2017 and to make six monthly payments of $20,000 to Mr. Peruvemba between February and July 2017. The Company also agreed to pay Mr., Peruvemba’s health insurance through June 2017 and to confirm the vesting of vested and unvested options or warrants totaling 3,754,150.
Carlson and Martin also leaving board.. Big changes afoot...
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