Item 1.01 Entry into a Material Definitive Agreement.
The Employment Agreement between Scott's Liquid Gold-Inc. (the "Company") and
Mr. Arndt described in Item 5.02 below is incorporated into this Item 1.01 by
reference.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of President and Principal Executive Officer
Effective as of October 22, 2021, Tisha Pedrazzini will serve as President and
Principal Executive Officer.
Tisha Pedrazzini, age 46, served as the Interim Co-President since April 26,
2021, and is a member of the Company's Board of Directors. Ms. Pedrazzini is the
Founder and Chief Innovation Officer of Pedrazzini Consulting, LLC, a consulting
firm that advises clients on brand transformation, innovative growth, and
organization optimization. Prior to founding Pedrazzini Consulting, Ms.
Pedrazzini was President at The Integer Group/TBWA, where she oversaw all
aspects of building and growing the agency. She led a team of over 400 agency
partners, across five offices, working with sales and marketing leadership teams
across many Fortune 500 clients to deliver advertising, go-to-market strategies,
innovation, and growth strategies for existing and emerging brands. She holds a
B.S. in Marketing and Biology from the University of Colorado.
Appointment of Chief Financial Officer, Treasurer and Corporate Secretary
Effective as of October 22, 2021, David Arndt, age 37 will serve as Chief
Financial Officer, Principal Accounting Officer, Treasurer and Corporate
Secretary. Mr. Arndt was employed by the Company beginning in 2017, serving as
the VP of Finance of the Company since April 2021 and, prior to that, serving as
Director of FP&A and Treasury, Controller, and Director of Financial
Reporting. Before joining the Company, Mr. Arndt was employed by Plante & Moran,
PLLC for seven years, serving in a number of positions, including Audit Manager,
and serving several clients in the manufacturing and consumer products
industries. Mr. Arndt holds a B.S. in Accounting and a Master of Accountancy
from the University of Kansas and is a CPA.
In connection with Mr. Arndt becoming CFO, the Company and Mr. Arndt entered
into an Employment Agreement, which provides for an annual salary of $205,000
and the potential to earn a bonus of $15,000, based on the Company's performance
in fiscal year 2021. The initial term of the agreement is one year and it will
renew automatically for 120 day periods thereafter unless either party provides
90 days notice on non-renewal. The agreement also provides that, following the
initial term, Mr. Arndt will receive a 3-month severance in the event he is
terminated after a change of control.
Departure of Mr. Paprzycki
On October 12, 2021, Kevin Paprzycki, Interim Co-President and Chief Financial
Officer of the Company and a member of the Board of Directors, informed the
Company that he is resigning effective as of October 22, 2021.
Item 7.01.Regulation FD Disclosure.
On October 18, 2021, the Company issued a press release announcing the changes
to the executive team described in Item 5.02. A copy of the press release is
furnished as Exhibit 99.1 to this Current Report. The information in this Item
7.01 and contained in Exhibit 99.1 will not be deemed filed for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), nor will such information or exhibit be deemed incorporated by reference
in any filing under the Securities Act of 1933, as amended, or the Exchange Act,
except as is expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits: The following exhibit is filed as part of this report:
Exhibit No. Exhibit Description
99.1 Scott's Liquid Gold-Inc. press release, dated October 18,
104 2021
Cover Page Interactive Data File (embedded within the Inline
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SCOTT'S LIQUID GOLD-INC. 
