BBBT Black Bird Biotech Inc (CE)

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

On April 7, 2022, William J. LoBell was appointed as Executive Vice President of Sales and Development for Black Bird Biotech, Inc. (the “Company”).

Mr. LoBell, age 74, possesses extensive experience in all levels of product sales and distribution operations. From December 2021 until April 2022, Mr. LoBell served as a consultant to Barry’s Restore It All Products, a Carlsbad, California-based developer of restoration products. From June 2016 to December 2021, he served as Chief Operating Officer of MSMART, a developer and purveyor of nano-technologies. From April 2011 to August 2017, Mr. LoBell was a Founder and Chief Executive Officer of Luminec Animal Sciences Corporation, where he both developed and directed the distribution of animal health products. From 2008 to July 2017, Mr. LoBell provided retail management consulting services to numerous national pet industry retailers in his position at Gerson Lehrman Group. Mr. LoBell’s experience prior to 2008 included Director of E-Commerce for Petsense Inc., Retail Management Consultant to 99 Cents Only Stores, West Coast Director of Operations and Director of Sales Programs for Petco Animal Supply Company, West Coast Regional Operating Vice President for PETSMART, INC. and Western Region District Manager for American Stores (Jewel Supermarket, Osco Drug Stores and Sav-On Drugs Inc.).

In connection with Mr. LoBell’s appointment, the Company entered into an executive engagement agreement (the “Executive Engagement Agreement”) with Mr. LoBell. The Executive Engagement Agreement is for a two-year term, beginning in April 2022. Under the Executive Engagement Agreement, Mr. LoBell was issued 1,000,000 shares of Company common stock as a signing bonus and he is to be issued 500,000 shares of Company common stock on the first day of July 2022, October 2022, January 2023 and April 2023. By the negotiated terms of the Executive Engagement Agreement, all shares of Company common stock issued to Mr. LoBell are valued at $0.01 per share. Additionally, Mr. LoBell is to be paid a monthly salary of $5,000.

The foregoing description of the Executive Engagement Agreement does not purport to be complete is qualified in its entirety by reference to the full text of the Executive Engagement Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.