SAVE FOODS, INC. (OTCMKTS:SAFO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

SAVE FOODS, INC. (OTCMKTS:SAFO) 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

Appointment of David Palach as Co-Chief Executive Officer

On November 5, 2020, the board of directors of Save Foods, Inc. (the “Board” and the “Company”, respectively) appointed Mr. David Palach, to serve as co-Chief Executive Officer of the Company, effective as of the same date.

In connection with Mr. Palach’s appointment to the Board, the parties entered into a Consulting Agreement to which the Company and Mr. Palach agreed upon, inter alia, the following engagement terms: (a) a monthly retainer of $8,000, and (b) a grant of options to purchase shares of the Company’s common stock, which amount shall be determined by the Board on a future date.

Family Relationships

Mr. Palach does not have family relationships with any of the current officers or directors of the Company.

Business Experience

Mr. David Palach (55), currently owns and serves as chief executive officer of two private companies in the environmental industry, which positions he has held since 2010. In 2008, Mr. Palach joined B-pure Corp Ltd. and served as its chief executive officer until 2010. From 1995 until 2008, Mr. Palach worked at Intel Technologies where he served in various commercial, business development and finance-centric positions. Mr. Palach holds a BBA in Accounting from Baruch College/City University of New York and completed a Directors Course at Bar Ilan University in Israel. Mr. Palach previously maintained a certified public accounting license in the State of Maryland.

Related Party Transactions

There are no related party transactions reportable under Item 5.02 of Form 8-K and Item 404(a) of Regulation S-K.

Item 8.01. Other Events.

On November 10, 2020, the Company issued a press release announcing the appointment of Mr. Palach to the Board and providing related information, a copy of which is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

10.1 Consulting Agreement dated as of November 6, 2020
99.1 Press Release, dated November 10, 2020


Save Foods Inc. Exhibit
EX-10.1 2 ex10-1.htm   Exhibit 10.1   CONSULTING AGREEMENT   This CONSULTING AGREEMENT (this “Agreement”) is made and entered as of November 6,…
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About SAVE FOODS, INC. (OTCMKTS:SAFO)

Save Foods Inc, formerly Pimi Agro Cleantech Inc, is an Israel-based company primarily engaged in the agricultural chemicals manufacture. The Company focuses on the development of ecologically-friendly solutions for pre- and post-harvest treatment of fruits and vegetables. The Company’s technology platform is based on a formulation of stabilized hydrogen peroxide (STHP). Its solutions range includes: Storage, offering SpuDefender that protects crops from diseases and deterioration during the storage period; Seeds, providing SeedGuard, which defends seeds against pathogens between storage and planting time, and Shelf Life, supplying CropDefender, which controls crops immune system in supermarkets and customer’s homes.

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