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CURRENT REPORT
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Section 5 - Corporate Governance and Management
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 13, 2021, Tony Sullivan tendered to GrowGeneration Corp. (the “Company”) the resignation from his role as Executive Vice President and Chief Operating Officer of the Company, effective immediately. Mr. Sullivan did not resign as a result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Pursuant to a signed separation agreement, Mr. Sullivan will be entitled to separation payments totaling $231,366, representing payment of approximately six months of salary and bonus for 2021, which will be paid in equal installments over a period of approximately nine months. Pursuant to the separation agreement, the Company and Mr. Sullivan have agreed to certain mutual releases of claims. In addition, Mr. Sullivan has agreed to various restrictive covenants, including not to compete or work in the hydroponics industry for two years following his departure.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: December 14, 2021 | GrowGeneration Corp. | |
By: | /s/ Darren Lampert | |
Name: | Darren Lampert | |
Title: | Chief Executive Officer |
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