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 1.01 Entry into a Definitive Material Agreement
Effective October 26, 2023, Andrew Sispoidis entered into a Confidential Settlement Agreement and General Release (the “Settlement Agreement”) with Corporate Universe, Inc. (”Corporate Universe”) and its wholly-owned subsidiaries Carbon-Ion Energy Group, Inc. (“Carbon-Ion”) and Oxcion Ltd. (“Oxcion”; and collectively with Corporate Universe and Carbon-Ion, the “Companies”). Pursuant to the Settlement Agreement, Mr. Sispoidis resigned from all director, officer, and any other positions and/or roles he had with the Company and each of its wholly-owned subsidiaries, Carbon-Ion and Oxcion, including Chief Executive Officer and Secretary, effective as of November 1, 2023. In addition, the Companies collectively agreed to pay Mr. Sispoidis severance equal to one-year base salary under his Employment Agreement with Carbon-Ion, or $200,000, in equal monthly installments for a period of 12-months following his resignation. Mutual releases and non-disparagement clauses were also agreed to by the parties in the Settlement Agreement.
The foregoing description of the Settlement Agreement does not purport to be complete and is qualified in its entirety by reference to the Settlement Agreement, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Pursuant to the Settlement Agreement, effective November 1, 2023 Mr. Sispoidis resigned from all director, officer, and any other positions and/or roles he had with the Company and each of its wholly-owned subsidiaries, Carbon-Ion and Oxcion, including Chief Executive Officer and Secretary, effective as of November 1, 2023.
Item 9.01 Financial Statements and Exhibits.
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Exhibit No. |
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104 |
| Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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.
| CORPORATE UNIVERSE, INC. |
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Date: November 1, 2023 | By: | /s/ Jack Brooks |
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| Jack Brooks |
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| President |
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