EX-10.9 12 organicellregenra_ex10-9.htm EXHIBIT 10.9

 

Exhibit 10.9

 

ORGANICELL REGENERATIVE MEDICINE, INC.

4045 SHERIDAN AVENUE

SUITE 239

MIAMI BEACH, FLORIDA 33140

 

August 19, 2022

 

Mr. Albert Mitrani

   
   

 

Dear Albert:

 

Reference is made to that certain Amended and Restated Executive Employment Agreement dated June 29, 2020 (the “Employment Agreement”), by and between Organicell Regenerative Medicine, Inc., a Nevada corporation (the “Company”) and Albert Mitrani (“Executive”). In connection with a capital and management restructuring of the Company, the Company and Executive agree to amend the Employment Agreement as follows:

 

1. Section 1 of the Employment Agreement (Position and Duties) shall be amended to provide that Executive shall serve as the Company’s Executive Vice President of sales.

 

2. Section 3 of the Employment Agreement (Compensation) shall be amended as follows:

 

(a) Sections 3(b), 3(c), 3(d), 3(e), 3(f), 3(g), 3(h), 3(i) and 3(m) of the Employment Agreement shall be deleted in their entirety.

 

(b) Section 3(j) of the Employment Agreement (Car and Mileage Allowance) shall be amended to limit Executive’s car and mileage and car insurance allowances to $1,700 and $400 per month, respectively, based on actual costs incurred.

 

(c) Section 3(k) of the Employment Agreement (Cellular Telephone and Internet Allowance) shall be amended to limit Executive’s monthly cellular telephone and internet service allowance to $700.

 

(d) The last paragraph of Section 3 of the Employment Agreement relating to health insurance coverage is amended to provide that the maximum cost payable by the Company or reimbursable to Executive for health care coverage is $400 per month.

 

3. Executive waives the right to receive all accrued but unpaid compensation as of the date of this letter agreement, except for two unpaid base salary payments which were outstanding as of July 31, 2022.

 

4. Section 6 of the Employment Agreement (Change in Control) is deleted in its entirety.

 

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5. The Company and Executive agree that except as amended or modified hereby, the Employment Agreement is ratified, approved and confirmed and remains in full force and effect.

 

If the foregoing correctly set forth our agreement, please countersign this letter agreement below.

 

Very truly yours,

 

ORGANICELL REGENERATIVE MEDICINE, INC.

 

By: /s/ Matthew Sinnreich  
  Matthew Sinnreich, Acting Chief Executive Officer  
     
ACCEPTED AND AGREED TO THIS 19th DAY OF AUGUST, 2022
     
/s/ Albert Mitrani  
Albert Mitrani  

 

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