GRVE 8-K
Groove Botanicals Inc. (GRVE)
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.
Resignation of Mr. Douglas Barton
On July 29, 2024, Groove Botanicals Inc. (the “Company”) received the resignation of Mr. Douglas Barton as a director of the Company. Mr. Barton did not resign due to any dispute or disagreement with the Company or its practices.
Extension of compensation contract
On July 30, 2024, the Company and Mr. Kent Rodriguez, CEO and director, agreed to extend the term of an Employment Contract originally entered into on April 1, 2020 expiring March 31, 2024, for a further two year term to March 31, 2026, retroactive to April 1, 2024. The agreement designates monthly payments to Kent Rodriguez in the amount of $4,000 or $48,000 per year.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number |
Description | |
| 10.1 | Letter agreement between the Company and Kent Rodriguez, CEO | |
| 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.
| Groove Botanicals Inc. | ||
| (Registrant) | ||
| Date: July 31, 2024 | /s/ Kent Rodriguez (Signature) | |
| Name: | Kent Rodriguez | |
| Title: | Chief Executive Officer | |
Exhibit 10.1
GROOVE BOTANICALS INC.
310 Fourth Avenue South
Suite 700
Minneapolis, MN 55415
July 30, 2024
Attn: Kent Rogriguez, CEO
7020 Lanham Lane,
Edina, MN 55439
RE: Employment Contract
Further to an Employment Contract (the “Agreement”) originally entered into on April 1, 2020, by and between Groove Botanicals Inc. (the “Employer”) (Formerly Avalon Oil and Gas, Inc.) and Kent Rodriguez, CEO, (“Employee”) whereunder Employee has agreed to monthly compensation at a rate of Four Thousand ($4,000) Dollars per month for continuing services as President and CEO, Employer hereby agrees to extend said Agreement for a further term of two (2) years, ending on March 31, 2026, with effect retroactive to April 1, 2024, under the same terms and conditions as originally set out therein.
Please acknowledge your agreement to the terms and conditions set forth above by signing below.
Upon execution this letter shall be appended to and form a part of the original Agreement.
Signed,
/s/Kent Rodriguez
CEO, Groove Botanicals, Inc.
Agreed and accepted this 30th day of July, 2024 by:
/s/Kent Rodriguez
Kent Rodriguez
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