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PHOT > SEC Filings for PHOT > Form 8-K on 18-Jul-2014All Recent SEC Filings

Show all filings for GROWLIFE, INC.

Form 8-K for GROWLIFE, INC.


18-Jul-2014

Change in Directors or Principal Officers, Financial Statements and Exhibits


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 15, 2014, Growlife, Inc. (the "Company"), entered into a Severance Agreement with Mr. Genesi whereby Mr. Genesi resigned as Chief Financial Officer and the Parties cancelled the Executive Employment Agreement dated November 3, 2013. The Company agreed to issue 6,000,000 shares of restricted common stock, pay cash severance of six months of compensation payable monthly and provide health insurance benefits for six months from the Termination Date.

The foregoing description of the Severance Agreement for John Genesi is qualified in its entirety by reference to the Severance Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1, incorporated by reference into this 5.02.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.                                 Description

  10.1         Severance Agreement dated July 15, 2014 by and between GrowLife, Inc.
               and John Genesi.

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