10/02/2026 | Press release | Distributed by Public on 10/02/2026 06:33
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On October 1, 2026, the Company entered into an employment agreement (the "Employment Agreement") with Zachary Rovinsky, the Company's Chief Financial Officer. The Employment Agreement provides for his employment through September 30, 2028, which may be extended for two additional one-year periods by mutual consent, at an annual salary of $210,000 and bonus up to 10% of his salary. The annual salary is subject to annual 3.0% increases.
On October 1, 2026, the employment agreement between the Company and Ms. Helena Santos, the Company's President, Chief Executive Officer and Treasurer, was extended through September 30, 2027 (the "Amendment Period"). All other terms of the existing employment agreement dated July 1, 2017, as previously amended, remain the same, other than the base salary which shall be $200,000 during the Amendment Period, part of which may be paid in equity upon mutual agreement.
On October 1, 2026, the employment agreement between the Company's wholly owned subsidiary, Scientific Bioprocessing, Inc. ("SBI") and Mr. John A. Moore, the Company's Chairman of the Board, was extended through September 30, 2027. All other terms of the existing employment agreement dated July 1, 2020, as previously amended, remain the same during the Amendment Period, other than the salary which shall be $165,000, during the Amendment Period, part of which may be paid in equity upon mutual agreement.