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    BOMH   US09859M1045

BOOMER HOLDINGS INC.

(BOMH)
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BOOMER HOLDINGS, INC. : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

03/12/2021 | 05:23pm EDT

Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Officers.

Amended Employment Agreement with Michael Quaid

On March 12, 2021, Boomer Holdings, Inc. (the "Company") amended and restated (the "Amendment") the employment agreement (the "Agreement") the Company entered into on September 4, 2020 with the Company's Chief Executive Officer, Michael R. Quaid. The Amendment was effective as of September 1, 2020 and Mr. Quaid will continue to serve as the Company's Chief Executive Officer until September 1, 2025 (or such earlier date upon which Mr. Quaid's employment may be terminated in accordance with the terms of the Amendment). Pursuant to the terms of the Amendment, which replaced and superseded the Agreement, Mr. Quaid shall receive cash compensation in the amount of Twenty Thousand Dollars ($20,000) per month and Mr. Quaid removed the potential increase in monthly compensation to Forty Thousand Dollars ($40,000).

In addition, the Amendment restated Mr. Quaid's stock as 500,000 shares since the Agreement incorrectly stated Mr. Quaid would receive a grant of 6,500,000 shares of the company's common stock which shares had previously been issued in connection with the Company's share exchange in January 2020. Accordingly, Mr. Quaid's stock compensation in the Amendment was restated to 500,000 shares to reflect the amount that he was actually issued in connection with his employment. Further, Mr. Quaid shall be eligible for bonuses at the discretion of the Company's Board of Directors and reimbursed for out of pocket expenses incurred connection with the performance of his duties. The Amendment also contains customary covenants regarding confidentiality, non-disclosure, non-competition, non-solicitation, non-disparagement, and proprietary rights. A copy of the Amendment is filed as Exhibit 10.1 to this report and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit 10.1 Amended and Restated Employment Agreement between Boomer Holdings, Inc. and Michael R. Quaid

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2022 90,1 M - -
Net income 2022 - - -
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 0,02 M 0,02 M -
Capi. / Sales 2022 0,00x
Capi. / Sales 2023 0,00x
Nbr of Employees 120
Free-Float 61,4%
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 1
Last Close Price 0,00 $
Average target price 1,00 $
Spread / Average Target 999 900%
Managers and Directors
Daniel Capri Chairman, President, CEO, Secretary & Treasurer
Giang Thi Hoang Director
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