AgriForce appoints Troy McClellan as President of AgriForce Solutions with $300K salary

AVAX ONE TECHNOLOGY LTD.

Effective July 22, 2021, Troy McClellan becomes President, AgriForce Solutions, with annual base salary of CDN $300,000.
Annual share compensation of $100,000 in common shares, payable quarterly, priced at 5-day VWAP.
Eligible for annual cash bonus of 30% of base salary at target (up to 100%) and equity participation.
Severance: 6 months base salary without cause; 12 months base salary on change-of-control termination.
No changes to board or other named executive officers.

item 1.01 item 5.02 item 9.01

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Appointed

Troy McClellan

President, AgriForce Solutions

AVX · AVAX ONE TECHNOLOGY LTD.

Effective: 2021-07-22
Filed: July 28, 2021, 7:59 PM ET

Effective July 22, 2021, the Board of Directors of AgriForce Growing Systems, Ltd. (the “Company”) entered into a new employment agreement with Troy McClellan that continues unless and until such employment is terminated by either party pursuant to the terms of the agreement, with a title of “President, AgriForce Solutions”.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Troy McClellan was appointed as President, AgriForce Solutions at AVAX ONE TECHNOLOGY LTD..

Action: appointed
Role: President, AgriForce Solutions

Exact text from the filing

Effective July 22, 2021, the Board of Directors of AgriForce Growing Systems, Ltd. (the “Company”) entered into a new employment agreement with Troy McClellan that continues unless and until such employment is terminated by either party pursuant to the terms of the agreement, with a title of “President, AgriForce Solutions”.

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Source: SEC EDGAR

accession 0001493152-21-017993

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