Attached files
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| EX-10.1 - SEPARATION AND RELEASE AGREEMENT - MusclePharm Corp | mslp_ex101.htm |
UNITED
STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, DC
20549
FORM
8-K
CURRENT
REPORT
PURSUANT TO
SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
May 1,
2020
Date of report
(date of earliest event reported)
MusclePharm
Corporation
(Exact name of
registrant as specified in its charter)
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Nevada
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000-53166
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77-0664193
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(State or other
jurisdictions of incorporation or organization)
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(Commission File
Number)
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(I.R.S. Employer
Identification No.)
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4400 Vanowen Street, Burbank, CA 91505
(Address
of principal executive offices) (Zip Code)
(800) 292-3909
(Registrant’s
telephone number, including area code)
Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrants under any of the following
provisions:
☐ Written communications pursuant to
Rule 425 under the Securities Act (17 CFR
230.425)
☐ Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
☐ Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
☐ Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Securities registered pursuant to
Section 12(b) of the Act:
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Title of each
class
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Trading
Symbol(s)
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Name of each exchange on which
registered
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N/A
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Indicate by check mark whether the
registrant is an emerging growth company as defined in Rule 405 of
the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of
this chapter).
Emerging growth company
☐
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the
extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a)
of the Exchange Act. ☐
Item
5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain
Officers.
Resignation of Officer and Director
Upon the
approval of the Board of Directors of MusclePharm Corporation (the
“Company”), on May 1, 2020, Brian Casutto, Executive
Vice President, Sales and Marketing, and a Director of the Company,
resigned from all of his current roles with the Company, effective
immediately. Mr. Casutto’s resignation did not result from
any disagreement with the Company regarding any matter related to
the Company’s operations, policies or practices. In
connection with Mr. Casutto’s resignation from the Company,
the Company and Mr. Casutto entered into a Separation and Release
Agreement (the “Agreement”), dated May 1,
2020.
The
Agreement provides that the Company will pay Mr. Casutto an
aggregate of $100,000, the equivalence of three months base salary,
with payments of $16,666.66 made every two weeks, beginning on May
15, 2020 and ending on July 17, 2020. The Agreement includes
standard provisions contained in agreements of this nature
including, mutual non-disparagement and a general release of any
and all claims.
Item 9.01 Financial Statements and
Exhibits.
(d)
Exhibits
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Exhibit
No.
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Description
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Separation and Release Agreement,
dated May 1, 2020 between the Company and Brian
Casutto
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2
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.
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MUSCLEPHARM
CORPORATION
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By:
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/s/ Ryan
Drexler
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Name: Ryan DrexlerTitle: Chief
Executive Officer
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Date: May 7,
2020
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