Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 21, 2022, Taronis Fuels, Inc. entered into an employment agreement (the "Employment Agreement") with Jered Ruyle, its President and Chief Executive Officer. The Employment Agreement provides for, among other things: (i) an annual base salary of $250,000; (ii) participation in the Company's annual performance incentive programs, including a target bonus of 80% of annual base salary based on the achievement of performance objectives; (iii) eligibility for equity awards under the Company's equity incentive plans, with a target grant date fair value of awards each year in the amount of 100% of annual base salary; and (iv) participation in the Company's benefit plans. The Employment Agreement also provides that upon a termination by the Company other than for "cause" or if Mr. Ruyle resigns for "good reason," the Company will pay Mr. Ruyle an amount equal to 12 months of base salary and continued medical coverage for up to 12 months.

The foregoing description of the Employment Agreement is not complete and is qualified in its entirety by the full text of the Employment Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits




Exhibit No.   Description
10.1            Employment Agreement, dated March 21, 2022, between the Company
              and Jered Ruyle.

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