ZIVO BIOSCIENCE, INC. (OTCMKTS:ZIVO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
Effective as of December 31, 2018, the Board of Directors extended to December 31, 2019 the Change in Control Agreements (the “Agreements”), which the Registrant entered into on December 31, 2017 with both of its executive officers. The Agreements with each of the executive officers provide that if a Change of Control (as defined in the Agreements) occurs and the participant is not offered substantially equivalent employment with the successor corporation or the participant’s employment is terminated without Cause (as defined in the Agreements) during the three month period prior to the Change of Control or the 24 month period following the Change of Control, then 50% of such participant’s unvested options will be fully vested and the restrictions on his restricted shares will lapse. The Agreements also provide for severance payments of 500% of base salary and target bonus in such event. The Agreements terminate on December 31, 2019, with the provision that if a Change of Control occurs prior to the termination date, the obligations of the Agreements will remain in effect until they are satisfied or have expired.
The foregoing description of the Agreements is qualified in its entirety by reference to the copies of the Agreements, a form of which is attached hereto as Exhibit 10.01 and which is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
Exhibit 10.01 –Form of Amended Change in Control Agreement dated December 31, 2018.
Zivo Bioscience, Inc. Exhibit
EX-10.01 2 f8k010719_ex10z01.htm EXHIBIT 10.01 AMENDED AND RESTATED CHANGE OF CONTROL AGREEMENT Exhibit 10.01 Amended and Restated Change of Control Agreement EXHIBIT 10.01 Name Title Andrew A. Dahl President and Chief Executive Officer Philip M. Rice II Chief Financial Officer AMENDED CHANGE OF CONTROL AGREEMENT THIS AMENDED CHANGE OF CONTROL AGREEMENT (this “Agreement”),…
To view the full exhibit click
About ZIVO BIOSCIENCE, INC. (OTCMKTS:ZIVO)
Zivo Bioscience, Inc., formerly Health Enhancement Products, Inc., is a biotechnology company. The Company is engaged in the study, development and commercialization of naturally derived compounds and bioactive molecules created by algal and bacterial hosts. The Company focuses on research and identification of its bioactive ingredients. It focuses to sell natural bioactive ingredients derived from its algae cultures to animal, human and dietary supplement and medical food manufacturers. It is also engaged in development of biologically derived and synthetic candidates for medicinal and pharmaceutical applications in humans and animals, specifically focused on autoimmune and inflammatory response modulation. It focuses on developing, manufacturing, marketing and selling tests that allow users to optimize personal health and identify future health risks. The Company manufactures algal products and derivatives, and has various product platforms.