TILT Holdings Inc. Announces Departure of Chief Revenue Officer and Separation Agreement

TILT Holdings Inc. (OTCMKTS:TLLTF) revealed in a recent 8-K filing with the Securities and Exchange Commission that Nathaniel Christopher Kelly has stepped down as Chief Revenue Officer of the company. The departure, as mentioned in the Form 8-K submitted on October 18, 2024, officially took effect on October 14, 2024.

Following Kelly’s exit, TILT Holdings and Mr. Kelly finalized a Separation Agreement on October 25, 2024, which outlines the terms of his departure benefits. The agreement entitles Mr. Kelly to several benefits, including the payment of his base salary for an additional twelve months post the Separation Date, accelerated vesting of 281,250 unvested restricted stock units, reimbursement of health insurance premiums under COBRA, and a waiver of certain non-competition obligations outlined in his employment agreement.

In return for the benefits provided in the Separation Agreement, Mr. Kelly agreed to release the company and related parties from any claims or causes of action stemming from his employment or separation. Conversely, TILT Holdings has agreed to release Mr. Kelly from certain claims, with exceptions for violations of federal or state criminal laws or instances where indemnification is prohibited.

The full details of the Separation Agreement can be found in Exhibit 10.1 to the Form 8-K filing.

Alongside this announcement, TILT Holdings confirmed that Mr. Tim Conder, the Chief Executive Officer, signed the document on behalf of the company on October 31, 2024.

This update provides clarity on the recent changes within TILT Holdings Inc., reflecting the company’s ongoing efforts to navigate executive transitions effectively.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read TILT’s 8K filing here.

TILT Company Profile

TILT Holdings Inc operates in the cannabis industry in the United States, Canada, Israel, Mexico, South America, and the European Union. The company operates through Cannabis, Accessories, and Other segments. It also produces, cultivates, and sells cannabis products. In addition, the company manufactures and distributes electronic and non-nicotine devices and systems.