InMed Pharmaceuticals Inc. (Form: 8-K, Received: 07/18/2022 06:02:52)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 11, 2022

INMED PHARMACEUTICALS INC.

(Exact Name of Company as Specified in Charter)

British Columbia		001-39685		98-1428279
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

InMed Pharmaceuticals Inc.
Suite 310 - 815 W. Hastings Street,
Vancouver, B.C.
Canada		V6C 1B4
(Address of Principal Executive Offices)		(Zip Code)

Company’s telephone number, including area code: (604) 669-7207

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares, no par value		INM		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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

(e) On July 11, 2022, the Company amended the Employment Agreement with the Company’s Chief Executive Officer, Eric Adams, under which Mr. Adams voluntarily agreed, effective July 15, 2022, to reduce his base salary to C$345,600. Apart from this amendment, all other terms and conditions of Mr. Adams’ employment will remain the same. This amendment will cease upon future notification by the Company, at which time the terms and conditions of Mr. Adams’ employment that were in place immediately prior to the effective date of the amendment will be restored.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits:

The following exhibit shall be deemed to be furnished, and not filed:

Exhibit No.		Description

10.1		Amendment dated July 11, 2022 to Eric Adams’ Employment Agreement dated 1 March 2021.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document and included as Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	INMED PHARMACEUTICALS INC.

Date: July 15, 2022	By:	/s/ Brenda Edwards
		Brenda Edwards
		Interim Chief Financial Officer

Exhibit 10.1

VIA EMAIL: eadams@inmedpharma.com

11 July 2022

Eric A. Adams

1643 Haywood Ave.

West Vancouver, BC V7V1W6

Dear Mr. Adams:

Re: Agreement to Wages

Further to our discussions, I write to outline a particular amendment to your Employment Agreement dated 1 March 2021 (“Employment Agreement”) and as amended from time to time. In particular, we propose the following amendment:

The effective date of this amendment will be 15 July 2022 (the “Effective Date”).

Your base salary will be reduced by to C$345,600.

You will be provided with a signing bonus in the amount of C$20, less statutory deductions, in return for accepting the terms set out in this letter. You voluntarily agree and accept this amendment, and hereby release InMed of any liability resulting from any changes, including but not limited to liability for constructive dismissal.

Apart from this amendment, all other terms and conditions of employment will remain the same. This amendment will cease upon future notification by the Company, at which time the terms and conditions of your employment that were in place immediately prior to the Effective Date will be restored.

Please consider and review this amendment and confirm your acceptance by returning a signed copy of this letter on or before 15 July 2022. In the meantime, if you have any questions or concerns, please contact Brenda Edwards at 1.604.669.7207.

InMed Pharmaceuticals Inc. #310-815 West Hastings St., Vancouver, BC, Canada, V6C-1B4

www.inmedpharma.com Tel. 604.669.7207 Fax. 778.945.6800

Sincerely,

/s/ William Garner
William Garner, MD
Chairman, InMed Pharmaceuticals Inc.

* * *

EMPLOYEE ACCEPTANCE

I have read and understood the contractual amendment outlined above, and I hereby confirm my voluntary acceptance.

	/s/ Eric A. Adams
	Eric A. Adams

InMed Pharmaceuticals Inc. #310-815 West Hastings St., Vancouver, BC, Canada, V6C-1B4

www.inmedpharma.com Tel. 604.669.7207 Fax. 778.945.6800