BIAF 8-K
bioAffinity Technologies, Inc. (BIAF)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 10, 2025, the Compensation Committee approved an amendment (the “Amendment”) to the employment agreement by and between bioAffinity Technologies, Inc. (the “Company”) and Maria Zannes, the Company’s Chief Executive Officer, to increase the annual base salary payable to Ms. Zannes pursuant to her employment agreement with the Company to $300,0000. In addition, the Amendment provides that the increase in base salary shall be retroactive to November 1, 2024.
The foregoing description of the terms of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | ||
| 10.1 | Amendment No. 2 to Employment Agreement with Maria Zannes | ||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| bioAffinity Technologies, Inc. | ||
| By: | /s/ Michael Edwards | |
| Michael Edwards | ||
| Chief Financial Officer | ||
| Dated: January 14, 2025 |
Exhibit 10.1
AMENDMENT NO.2 TO EMPLOYMENT AGREEMENT
This Amendment No. 2 effective as of January 10, 2025 (this “Amendment”), to the Employment Agreement, dated February 1, 2015, as amended by the amendment dated July 27, 2023 (the “Agreement”), is entered into by and between bioAffinity Technologies Inc. (the “Company”) and Maria Zannes (the “Employee”). Capitalized terms used herein without definition shall have the meanings assigned in the Agreement.
WHEREAS, the parties desire to amend the Agreement as set forth below.
NOW THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree to amend the Agreement as follows:
1. The first sentence of Section 4 of the Agreement is hereby deleted and replaced with the following:
“From and after the date of this Amendment and during the Employment Term, the Company shall pay Employee a base salary at the annual rate of Three Hundred Thousand Dollars ($300,000.00) per year, or such higher rate as may be determined from time-to-time by the Company (“Base Salary”). In addition, the increase in Base Salary shall be retroactive to November 1, 2024.
2. All other terms of the Agreement shall remain in full force and effect. The Agreement, as amended by this Amendment, constitutes the entire agreement between the parties with respect to the subject matter thereof.
3. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but both of which together shall constitute one and the same instrument.
4. This Amendment is made and shall be construed and performed under the laws of the remaining provisions will nevertheless continue to be valid and enforceable in the State of New York without regard to its choice or conflict of law principles.
[Signature Page Follows]
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.
| BIOAFFINITY TECHNOLOGIES INC. | ||
| By: | /s/ Michael Edwards | |
| Name: | Michael Edwards | |
| Title: | Chief Financial Officer | |
| /s/ Maria Zannes | ||
| Maria Zannes | ||