Coda Octopus Group Inc.
07/28/2021 | Press release | Distributed by Public on 07/28/2021 14:52
Management Change/Compensation (Form 8-K)
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On July 26, 2021, Coda Octopus Group, Inc. (the 'Company') and Michael Midgley, the Company's Chief Financial Officer, entered into an agreement to amend his employment agreement. Pursuant to the terms of the amended employment agreement, Mr. Midgley now serves solely as Chief Financial Officer. The agreement provides for these services to be rendered on a 3 days per week basis for a base salary of $126,000 per annum.
As disclosed previously, Mr. Midgley had already stepped down from his position as Chief Executive Officer of Coda Octopus Colmek, Inc., the Company's wholly owned subsidiary.