Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
EMPLOYMENT AGREEMENTS
Jeff Lewis
Effective January 1, 2023, Jeffrey Lewis and BrewBilt Manufacturing, Inc. (the
"Company") entered into a new Employment Agreement pursuant to which Mr. Lewis
will continue to serve as the Company's Chief Executive Officer.
Pursuant to the Employment Agreement, Mr. Lewis will receive an annual salary of
$250,000 payable in monthly installments, with unpaid amounts accruing interest
at the rate of 6% per annum. Unpaid salary may be converted by Mr. Lewis into
shares of Series A Preferred Stock of the Company. Mr. Lewis will also be issued
$150,000 of Series A Preferred Stock pursuant to the Employment Agreement. The
Employment Agreement is for a term of one year, and may be terminated by either
party at any time on 90-days' prior written notice.
The foregoing description of the Employment Agreement between the Company and
Mr. Lewis is qualified in its entirety by reference to the actual terms of the
Employment Agreement, which has been filed as Exhibit 10.1 to this Current
Report on Form 8-K, and which is incorporated herein by reference.
Bennett Buchanan
Effective January 1, 2023, Bennett Buchanan and the Company entered into a new
Employment Agreement pursuant to which Mr. Buchanan will continue to serve as a
Director of the Company and be employed as its Chief Operating Officer.
Pursuant to the Employment Agreement, Mr. Buchanan will receive an annual salary
of $250,000 payable in monthly installments, with unpaid amounts accruing
interest at the rate of 6% per annum. Unpaid salary may be converted by Mr.
Buchanan into shares of Series A Preferred Stock of the Company. Mr. Buchanan
will also be issued $150,000 of Series A Preferred Stock pursuant to the
Employment Agreement. The Employment Agreement is for a term of one year, and
may be terminated by either party at any time on 90-days' prior written notice.
The foregoing description of the Employment Agreement between the Company and
Mr. Buchanan is qualified in its entirety by reference to the actual terms of
the Employment Agreement, which has been filed as Exhibit 10.1 to this Current
Report on Form 8-K, and which is incorporated herein by reference.
DIRECTOR AGREEMENTS
Effective January 1, 2023, each of Jef Lewis, Samuel Berry and Bennett Buchanan
entered into new Board of Directors Agreement, pursuant to which each of such
individuals will continue to serve as directors of the Company.
Under the Board of Directors Agreements, each of Jef Lewis, Samuel Berry and
Bennett Buchanan will be issued $150,000 shares of Series A Preferred Stock for
serving as a Director of the Company during 2023. The foregoing description of
the Board Directors Agreements between the Company and each of its Directors is
qualified in its entirety by reference to the actual terms of the Board of
Directors Agreement, a form of which has been filed as Exhibit 10.3 to this
Current Report on Form 8-K, and which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Employment Agreement between BrewBilt Manufacturing, Inc. and
10.1 Jeffrey Lewis, dated as of January 1, 2023
Exhibit Employment Agreement between BrewBilt Manufacturing, Inc. and
10.2 Bennett Buchanan, dated as of January 1, 2023
Exhibit Form of Board of Directors Agreement of BrewBilt Manufacturing,
10.3 Inc., dated as of January 1, 2023
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
© Edgar Online, source Glimpses