Item 1.01 Entry into a Material Definitive Agreement. As previously reported, directorJames G. Aivalis retired as our Chief Operating Officer onJanuary 31, 2021 at which time his compensation for his executive services terminated and his post-retirement services as an independent consultant commenced pursuant to the terms of his executive employment agreement for the period fromFebruary 1, 2021 throughJanuary 31, 2022 . OnOctober 25, 2021 Stabilis Solutions, Inc. (the "Company") entered into a Consulting Agreement (the "Consulting Agreement") withMr. Aivalis and Enatek Services, LLC ("Enatek"), an executive services provider, under which Enatek will provide the services ofMr. Aivalis as a consultant and advisor to the Company fromFebruary 1, 2022 toJanuary 31, 2023 for the consideration of$12,500 per month plus certain health insurance benefits.Mr. Aivalis' services to the Company under the Consulting Agreement will include serving as a non-independent member of the Company's Board of Directors for no additional compensation if he remains on the board.
The foregoing summary of the Consulting Agreement is qualified in its entirety by reference to the full text of the Consulting Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits. Exhibits:
Exhibit
No. Description
10.1 † Consulting Agreement dated
Company,Enatek Services, LLC andJames G. Aivalis .
† Indicates a management contractor or compensatory plan, contract or arrangement.
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