Item 8.01 Other Events
On September 15, 2021, Unrivaled Brands, Inc. (the "Company") entered into a
Consulting Agreement (the "Consulting Agreement") and a Restricted Stock Award
Agreement (the "Imbimbo RSA Agreement") with Dallas Imbimbo, a director of the
Company. Pursuant to the Consulting Agreement, among other things, Mr. Imbimbo
will provide the Company with strategic advisory and corporate development
services. In consideration for providing those services, the Company (1) agreed
to grant Mr. Imbimbo 1,500,000 restricted shares of the Company's common stock
(the "Common Stock") valued at the closing price of the Common Stock on the
trading day prior to the date of the Consulting Agreement, which vest 20% on the
date of the Consulting Agreement and 20% on each of January 1, 2022, April 1,
2022, July 1, 2022 and October 1, 2022, and (2) agreed to pay Mr. Imbimbo
$16,666.66 per month, payable on the first business day of each month beginning
on the first business day of the month after the date of the Consulting
Agreement. The term of the Consulting Agreement is one year unless earlier
terminated pursuant to the terms of the Consulting Agreement.
Also on September 15, 2021, the Company entered into a Restricted Stock Award
Agreement (the "Kovacevich RSA Agreement") with Nicholas Kovacevich, a director
of the Company. Pursuant to the Kovacevich RSA Agreement, among other things,
the Company granted to Mr. Kovacevich 1,500,000 restricted shares of Common
Stock valued at the closing price of the Common Stock on the trading day prior
to the date of the Kovacevich RSA Agreement, which vest 20% on the date of the
Kovacevich RSA Agreement and 20% on each of January 1, 2022, April 1, 2022, July
1, 2022 and October 1, 2022.
The descriptions of the Consulting Agreement, the Imbimbo RSA Agreement, and the
Kovacevich RSA Agreement do not purport to be complete and are qualified in
their entirety by reference to the full text of such agreements, which will be
filed as exhibits to a future periodic report.
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