Item 5.02. Departure of Directors or Certain Officers; Election of Directors,
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Amendment to Executive Employment Agreement
Effective as of April 22, 2021, the Board of Directors of Marijuana Company of
America, Inc. (the "Company") approved an increase in the cash portion of the
compensation payable to Jesus Quintero, the Company's Chief Executive Officer
and Chief Financial Officer, effective as of May 1, 2021, from $12,000 per month
to $20,000 per month, as well as the immediate issuance to Mr. Quintero of
20,000,000 fully paid and non-assessable shares of the Company's common stock,
par value $0.001 per share, as a one-time bonus. Thereafter, on April 27, 2021,
the parties entered into an amendment (the "Amendment") to that certain
Executive Employment Agreement, dated February 3, 2020, by and between the
Company and Mr. Quintero.
The foregoing description of the Amendment does not purport to be complete and
is subject to, and qualified in its entirety by reference to the full text of
the Amendment, a copy of which is attached hereto as Exhibit 10.1, and is
incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Description
10.1+ First Amendment to Executive Employment Agreement, dated April 27,
2021, by and between the Company and Jesus Quintero
+ Indicates a management contract or any compensatory plan, contract or
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