CleanSpark, Inc. (OTCMKTS:CLSK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 8, 2019, our Board of Directors appointed Ms. Amanda Kabak as our Chief Technology Officer.

Ms. Kabak joined our company in August of 2017 and we are now promoting her to serve as our Chief Technology Officer and Principal Software Architect. Before joining us, Ms. Kabak was a managing consultant for 10th Magnitude and she worked there from July 2016 to July 2017. From April to June of 2016, she worked as Sr. Software Engineer for Uptake and from 2013 to February 2016 she worked as Sr. Software Architect for OptiRTC, Inc.

Aside from above, Ms. Kabak does not hold and has not held over the past five years any other directorships in any company with a class of securities registered to Section 12 of the Exchange Act or subject to the requirements of Section 15(d) of the Exchange Act or any company registered as an investment company under the Investment Company Act of 1940.

There are no family relationships between Ms. Kabak and any of our directors or executive officers.

Aside from the following, Ms. Kabak has not had any material direct or indirect interest in any of the Company’s transactions or proposed transactions over the last two years.

On February 8, 2019, we entered into a letter agreement (the “Agreement”) with Ms. Kabak to serve as Chief Technology Officer. We agreed to pay Ms. Kabak an annual base salary of $190,000 and issue her an option to purchase $100,000 shares of our stock for each annual period she is with our company. A portion of the option vests each month and is exercisable at market price.

A copy of the Agreement is attached hereto as Exhibit 10.1 and incorporated herein by reference.

Also on February 8, 2019, our Board of Directors approved an increase in the annual salary for Mr. Matthew Schultz, our CEO, from $180,000 to $240,000 for the 2019 annual period. The Board also approved an increase in the annual salary for Mr. Zach Bradford, our President and CFO, from $180,000 to $240,000 for the 2019 annual period.

Lastly, the Board approved additional performance bonuses that may be granted from time to time at the Board’s discretion.

As a result of the above, we plan to amend the employment agreements for Messrs. Schultz and Bradford and will attach the same to our next quarterly report that we file with the Securities and Exchange Commission.

SECTION 9 – Financial Statements and Exhibits

10.1 Employment Agreement, dated February 8, 2019

CLEANSPARK, INC. Exhibit
EX-10.1 2 ex10_1.htm       February 8,…
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About CleanSpark, Inc. (OTCMKTS:CLSK)

CleanSpark, Inc., formerly Stratean, Inc., is in the business of acquiring, licensing and marketing patents and technology to create sustainable energy for its energy customers. The Company is a microgrid company, which combines a stratified downdraft gasifier with engineering and software and controls for distributed energy resource management systems. Its software allows energy generated locally to be shared with other interconnected microgrids. The Company’s Flex Power System is an integrated microgrid control platform that integrates all forms of energy generation with energy storage devices and controls facility loads to provide energy security in real time free of cyber threats. The Flex Power System provides sustainable energy with cost savings for its energy customers. The Flex Power System allows customers to manage renewable energy generation, storage and consumption. Its FractalGrid topology enables multiple microgrids to work together or disassociate base on the system.