of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
October 2, 2019, the MyDx, Inc. (the “Company”) appointed Mr. Daniel Yazbeck, who is currently a member of the Company’s
board of directors (the “Board”), as the Company’s interim Chief Executive Officer and Chief Financial Officer.
As noted in the Company’s Current Report on Form 8-K filed on August 7, 2019, the Board is conducting a search for a successor
Chief Executive Officer and Chief Financial Officer and the positions of Interim Chief Executive Officer and Interim Chief Financial
officer are intended to be temporary until a permanent Chief Executive Officer and Chief Financial Officer are appointed.
Yazbeck, 41, became the Chief Executive Officer and a director of CDx in September 2013, and became the Chief Executive Officer
and Chairman of the Board of the Company effective April 30, 2015. On July 9, 2015, at the request of the Board, Mr. Yazbeck resigned
as the Chief Executive Officer of the Company, and during the period between July 10, 2015 and September 29, 2015, Mr. Yazbeck
was the Chief Innovation Officer of the Company. Effective September 29, 2015, Mr. Yazbeck was re-appointed as the Chief Executive
Officer of the Company and appointed as the Chief Financial Officer of the Company. Mr. Yazbeck resigned from his position as
the Company’s Chief Executive Officer and the Chief Financial Officer on November 10, 2018 in connection with the Board’s
appoint of a new executive team. After the resignation of such executive team, Mr. Yazbeck was appointed as interim Chief Executive
Officer and interim Chief Financial Officer on October 2, 2019.
Yazbeck has substantial experience in new market and business development, strategic partnering and negotiations from his tenure
at Fortune 500 companies. Mr. Yazbeck also has an extensive scientific and technical engineering background, having invented,
patented, secured resources for, managed, developed, and commercialized several successful pharmaceutical and healthcare related
market products from conception to implementation.
Yazbeck joined Pfizer, Inc. in January 2002 as a scientist in their pharmaceuticals group where he specialized in chemical research
and development technologies, including analytics. While at Pfizer, Mr. Yazbeck participated in creating a global center of technology
for Pfizer in the field of biocatalysis, developing multiple patents issued in his name and authored a variety of research papers.
After leaving Pfizer, Mr. Yazbeck joined Panasonic Corporation of North America in March 2005, spearheading their new market,
business and strategic product development activities in the consumer electronics healthcare field. Mr. Yazbeck worked on many
advanced Panasonic projects in the biotechnology and healthcare space, again creating multiple patents in his name and generating
new business for the company.
Yazbeck founded the Yazbeck Consulting & Investment Group (YCIG, Inc.) in October of 2008. YCIG, Inc. seeded the capital,
R&D, market development, legal and human resource investments required to create CDx in September 2013.
Yazbeck graduated with honors from McGill University in Canada in 2001, holds a Master’s Degree in Medicinal Chemistry,
with a minor in Marketing Management, and served as a research/teaching assistant for 4 years prior to graduating and joining
are no family relationships between Mr. Yazbeck and any director, executive officer or person nominated or chosen by the Company
to become a director or executive officer of the Company within the meaning of Item 401(d) of Regulation S-K under the U.S. Securities
Act of 1933 (“Regulation S-K”). Since the beginning of the Company’s last fiscal year, the Company has not engaged
in any transaction in which Mr. Yazbeck had a direct or indirect material interest within the meaning of Item 404(a) of Regulation
connection with his appointment as interim Chief Executive Officer and interim Chief Financial Officer, the Company agreed to
pay Mr. Yazbeck a salary of $10,000 per month, or $120,000 per year, with no additional benefits at this time. The Company also
entered into an indemnification agreement dated October 2, 2019 with Mr. Yazbeck. The indemnity provided is in addition to that
provided by the Nevada Revised Statutes (“NRS”) or any successor statutes, provided that the Mr. Yazbeck (i) acted
in good faith and in a manner the indemnitee reasonably believed to be in or not opposed to the best interests of the Registrant,
(ii) is not liable pursuant to NRS 78.138, and (iii) with respect to any criminal Proceeding (as defined therein), had no reasonable
cause to believe the Indemnitee’s conduct was unlawful.
descriptions of the indemnification agreement herein are qualified in their entirety by reference to the complete terms and conditions
of the Indemnification Agreement filed as Exhibit 10.1 hereto.