On 01 May 2019 LandStar, Inc. (the “ Company ” or “ LandStar ”) announced the hiring and appointment of Steven Dawson as its Chief Financial Officer, and as its principal financial and accounting officer, effective 01 May 2019. A copy of the press release announcing Mr. Dawson’s appointment is attached hereto as Exhibit 99.1.

In connection with Mr. Dawson’s appointment, the Company and Mr. Dawson entered into an Executive Employment Agreement effective 30 April 2019 (the “ Agreement ”). The Agreement provides for an initial base annual salary of $120,000, with increases in annual base salary to (i) $180,000 upon the SEC declaring effective an S-1 to register shares of the Company’s common stock; and, (ii) $220,000 upon the Company achieving an annualized revenue run rate of at least $5,000,000, or entering into new customer contracts or trailing 12-month gross booked revenues of $2,500,000. The Agreement also provides for annual bonus eligibility with an annual target payout of 50% of his base salary. In addition, in the event of certain terminations after a change in control (as defined in the Agreement) or if the Company terminates Mr. Dawson’s employment without just cause (as defined in the Agreement), or if Mr. Dawson resigns for good reason (as defined in the Agreement), subject to signing a general release of claims, Mr. Dawson will be entitled to receive continued payment of his base salary for six months.

Pursuant to the Agreement, Mr. Dawson was also granted the following equity awards:

Prior to his appointment with the Company, Mr. Dawson, age 48, served in a variety of senior level leadership positions in accounting and finance for both public and privately-held companies, most recently providing strategic CFO and high-level consulting services for clients across a variety of industries. From 2016 to 2018 Mr. Dawson served as the Senior Vice President of Global Finance for Vinventions, LLC, a private-equity backed worldwide manufacturer of wine closures. From 2010 to 2016 Mr. Dawson served as the Corporate Controller for Charles & Colvard, Ltd., a publicly-traded manufacturer of gemstones and jewelry, and several other finance leadership positions with publicly-traded companies earlier in his career. Mr. Dawson has nearly ten years of experience in public accounting, including five years with his own firm, where he provided succession planning and established finance and administrative functions in support of fund-raising activities to small and medium-sized entities. Mr. Dawson received B.A. degrees in Business Management, Economics and Accounting from North Carolina State University (Raleigh). Mr. Dawson was also a Certified Public Accountant (State of North Carolina) until 2015, after which he voluntarily went on “ Inactive ” status.

Mr. Dawson succeeds Jason Remillard as the Company’s Chief Financial Officer effective as of 01 May 2019. Mr. Remillard has served as the Company’s Chief Executive Officer and Chief Financial Officer since December, 2017. Mr. Remillard will remain as the Company’s Chief Executive Officer.

The foregoing description of the terms and conditions of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ending 31 March 2019.