UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Agreements of Certain Officers
On November 19, 2021, Ipsidy Inc. (the “Company”) and Thomas Szoke entered into a letter agreement pursuant to which the parties mutually agreed that Mr. Szoke would retire from the Company as Chief Solutions Architect of the Company, effective December 1, 2021. In connection with his departure from the Company, Mr. Szoke will receive final pay through December 1, 2021, reimbursement of all expenses and the outstanding option to purchase 33,334 shares of common stock granted to Mr. Szoke on May 5, 2021 shall become fully vested upon the separation date and shall remain outstanding. Further, the Company and Thomas Szoke LLC intend to enter into a Consulting Agreement pursuant to which Thomas Szoke LLC will provide business and identity consulting services continuing until terminated by either party giving not less than 30 days written notice to the other at any time after November 30, 2022. Thomas Szoke LLC will receive $305,000 payable in twelve equal monthly installments and $140 per hour with respect to additional specific services.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Ipsidy Inc. | ||
| Date: November 26, 2021 | By: | /s/ Stuart Stoller |
| Name: | Stuart Stoller | |
| Title: | Chief Financial Officer | |
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