WORCESTER, MA – Vystar Corporation (OTC:VYST), a company specialized in fabricated rubber products, announced the formal appointment of Ms. Jamie Rotman as President with a new compensation agreement. The announcement was made public in a recent 8-K filing with the Securities and Exchange Commission.
Ms. Rotman, who has been serving as the acting President since December 21, 2023, entered into an Employment Agreement with Vystar on Monday, under which she will receive an annual compensation of $180,000.
This payment will be in the form of Series C Preferred Stock or common stock at a 50% discount to the market price, with the option for cash payment at Ms. Rotman's discretion. Additionally, she is granted a signing bonus of $25,000 in Series C Preferred Stock, which will vest throughout 2024.
The Employment Agreement, which was made retroactive to January 1, 2024, also includes a severance package. In the event of a termination without cause or a change in control, Ms. Rotman is entitled to a 24-month severance payment.
This strategic move comes as Vystar Corp continues to navigate the competitive landscape of the rubber products industry. The company, headquartered in Worcester, MA, has not listed its common stock on any exchange, trading under the symbol VYST.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.