UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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PART IV
Item 1.01 Entry into a Material Definitive Agreement.
As previously disclosed in the Annual Report on Form 10-K (the “Annual Report”) filed with the Securities and Exchange Commission on March 18, 2024 by Vivos, Inc. (the “Company”), the Company entered into a renewed Executive Employment Agreement (the “Employment Agreement) on December 19, 2023 with Dr. Michael Korenko, Chief Executive Officer of the Company. Pursuant to the terms of the Employment Agreement, Dr. Korenko shall continue to serve as Chief Executive Officer for a period of two years effective January 1, 2024, and shall receive: (i) an annual base salary of $295,500; (ii) a grant of 20,000 shares of restricted stock vesting in four equal installments over a period of two years; (iii) is entitled to receive an annual bonus in the amount of $10,000 per quarter upon the satisfaction of conditions to be determined at the discretion of the Board of Directors of the Company; and (iv) customary benefits and reimbursement for reasonable out-of-pocket business expenses. The Employment Agreement also provides customary provisions relating to, among other things, confidentiality, non-competition, and non-solicitation.
The description of the Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Employment Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference. Exhibit 10.1 replaces and supersedes Exhibit 10.12 to the Annual Report, which copy of the Employment Agreement, as filed, contained certain immaterial typographical errors.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
See Item 1.01
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number |
Description | |
| 10.12 | Amended and Restated Employment Agreement between Vivos Inc. and Michael Korenko. Dated December 19, 2023, with a deemed effective date of January 1, 2024 | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| VIVOS INC. | ||
| Date: March 22, 2024 | By: | /s/ Michael K. Korenko |
| Name: | Michael K. Korenko | |
| Title: | Chief Executive Officer | |