Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On November 11, 2020, CurAegis Technologies, Inc. (the "Company") was notified
by Mr. Phil Saunders of his intention to resign as a Director. The Company is
grateful for the guidance that he shared with the team over the past 11 years.
The Board accepted the resignation on November 11, 2020, and in recognition of
the service of Mr. Saunders to the Company, 287,500 vested options to purchase
shares of the Company's common stock previously awarded, shall remain
exercisable for the remainder of the applicable option terms, which amounts are
equal to the number of shares that would have been exercisable for the remainder
of his term had Mr. Saunder's service continued through the three-year
anniversary of the grant dates.
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