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Item 5.02(e) Compensatory Arrangements of Certain Officers
On August 15, 2024, the Board of Directors of Earth Science Tech, Inc., a Florida corporation (the “Company”), approved a new twelve-month Employment Agreement for its officers Giorgio R. Saumat, the Company’s CEO and Chairman of the Board, and Mario G. Tabraue, the Company’s COO and Director of the Board, entered on August 16, 2024. Under the new agreement, the CEO shall receive eighteen percent of the Company’s monthly cash receipts while the COO shall receive twelve percent. Payments will commence on October 1, 2024, and will be based on the preceding month’s cash receipts, provided the Company’s net profit increases quarter over quarter. If the Company fails to increase its net profit, the arrangement must be renegotiated, with no payments made at the beginning of the new quarter. Additionally, the COO has agreed to relinquish all current roles held in the Company’s wholly owned subsidiaries, along with the associated compensation, in order to focus exclusively on his duties as COO. This adjustment reflects the COO’s commitment to the new role and revised scope of responsibilities.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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.
| EARTH SCIENCE TECH, INC. | ||
| Dated: August 27, 2024 | By: | /s/ Giorgio R. Saumat |
| Giorgio R. Saumat | ||
| Its: | CEO and Chairman of the Board | |