CoJax Oil and Gas grants 25,000 restricted shares to CEO and CFO, enters new employment agreement

CoJax Oil & Gas Corp

On Jan 25, 2023, CoJax granted 25,000 restricted shares of Series A Convertible Preferred Stock to CEO Jeffrey Guzy in lieu of past-due 2022 cash compensation.
On the same date, CoJax granted 25,000 restricted shares of Preferred Stock to CFO Wm. Barrett Wellman in lieu of past-due 2022 cash compensation.
On Feb 14, 2023, CoJax entered a 3-year employment agreement with CEO Guzy with a base salary of $120,000 per annum, convertible to common stock at $2.00 or market price.
The restricted shares have piggyback registration rights expiring Jan 25, 2024, and a one-year transfer restriction.
The shares issued to Guzy and Wellman are exempt from registration under Section 4(a)(2) of the Securities Act.

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