Earth Science Tech : Management Compensation - Form 8-K
September 29, 2023 at 06:02 pm EDT
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Item 5.02(e) Compensatory Arrangements of Certain Officers
On September 29, 2023, Earth Science Tech, Inc., a Florida corporation (the "Company") adopted a new officer compensatory plan arrangement superseding its prior arrangement. For the officers Giorgio R. Saumat, the Company's CEO and Chairman of the Board shall be compensated twenty one percent of the Company's monthly revenue. For the officer Mario G. Tabraue, the Company's President and Director of the Board shall receive ten and a halfpercent of the monthly revenue. Commencing on October 1, 2023, within a twelve-month term, both Officers shall be paid on the first of the month, based on the preceding month's revenue as long as the Company increases its cash position quarter over quarter. In the event that the Company does not increase its cash position, the arrangement must be renegotiated and there will be no payment at the beginning of the new quarter. Moreover, both officers have agreed to waive all rights to back pay and compensation for the work done in the Company prior to September 30, 2023.
Earth Science Tech Inc. published this content on 29 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2023 22:00:19 UTC.
Earth Science Tech, Inc. is a holding company focused on the health and wellness industry. The Company is engaged in the compounding pharmaceuticals and telemedicine sectors, through its wholly owned subsidiaries, RxCompoundStore.com, LLC. (RxCompound), Peaks Curative, LLC. (Peaks), and Earth Science Foundation, Inc. (ESF). RxCompound is licensed to fulfill prescriptions in the states of Delaware, Florida, Pennsylvania, New York, Arizona, New Jersey, Wisconsin, Minnesota, Rhode Island, Utah, Georgia, Nevada, Massachusetts, Missouri, Iowa, Maryland, Ohio, Colorado, North Carolina, Maine, Indiana, and Illinois. Peaks is a telemedicine referral site focused on overall health and wellness for men and women. Peaksâ orders are exclusively fulfilled by RxCompound. Patients who order Peaks via monthly subscription receive their refills automatically. ESF accepts grants and donations to help those in need of assistance in paying for prescriptions.