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): October 1, 2019

 

AMERICAN INTERNATIONAL HOLDINGS CORP.

(Exact name of registrant as specified in its charter)

 

Nevada   000-50912   88-0225318

(State or other jurisdiction

of incorporation)

 

(Commission File

Number)

 

(I.R.S. Employer

Identification No.)

 

11222 Richmond Avenue, Suite 195, Houston, Texas 77082

(Address of principal executive offices) (Zip Code)

 

 

 

(Former name or former address, if changed since last report.)

 

Registrant’s telephone number, including area code: (281) 334-9479

 

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:

 

[  ] 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))

 

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 1.01 Entry into a Material Definitive Agreement.

 

On October 1, 2019, American International Holdings Corp (“AMIH” or the “Company”) entered into an Employment Agreement with Jesse L. Dickens, Jr. to serve as the Chief Executive Officer of the Company’s newly formed wholly owned subsidiary, Capitol City Solutions USA, Inc. (“CCS”) (the “Employment Agreement”). Pursuant to the Employment Agreement, Mr. Dickens will receive an annual base salary of $120,000 and shall receive an equity grant in the amount of one million (1,000,000) shares of the Company’s common stock (the “Equity Shares”) pursuant to a vesting period of one-year, of which two-hundred and fifty thousand (250,000) shares are issuable to Mr. Dickens at the signing of the Employment Agreement and the remaining shares issuable as follows: 250,000 shares on January 1, 2020, 250,000 shares on April 1, 2020, and 250,000 shares on July 1, 2020.

 

In addition, Mr. Dickens shall be eligible to receive cash performance bonuses and additional stock grants or options as determined by the Company from time to time. The Employment Agreement has a one-year term, provided, however, after the end of one year, the agreement will automatically renew for successive one-year terms.

 

The foregoing description of the Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Employment Agreement, a copy of which is filed as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 3.02 Unregistered Sales of Equity Securities.

 

The information set forth in Item 1.01 of this Current Report regarding issuance of shares to Mr. Dickens on Form 8-K is incorporated by reference into this Item 3.02.

 

The issuance of the shares of the Company’s common stock to Mr. Dickens pursuant to the Employment Agreement is exempt from registration under the Securities Act of 1933, as amended (the “Act”), in reliance on exemptions from the registration requirements of the Act in transactions not involved in a public offering pursuant to Section 4(a)(2) of the Act.

 

Item 7.01 Regulation FD Disclosure.

 

A press release announcing Mr. Dickens as the Chief Executive Officer of CCS is furnished with this report as Exhibit 99.1.

 

In accordance with General Instructions B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as expressly set forth by specific reference in such filing to this Current Report on Form 8-K.

 

(d) Exhibits.

 

Exhibit No.   Description
     
1.1   Employment Agreement, dated as of October 1, 2019 by and among American Holdings International Corp., and Jesse L. Dickens, Jr.
     
99.1   Press Release, dated as of October 8, 2019.

 

     
 

 

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

 

This Current Report on Form 8-K may contain forward-looking statements that are made pursuant to the safe harbor provisions of Section 21E of the Exchange Act. The forward-looking statements in this Current Report on Form 8-K are not historical facts, do not constitute guarantees of future performance, and are based on numerous assumptions which, while believed to be reasonable, may not prove to be accurate.

 

Any forward-looking statements in this Current Report on Form 8-K do not constitute guarantees of future performance and involve a number of factors that could cause actual results to differ materially, including risks more fully described in AMIH’s most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. AMIH assumes no obligation to update any forward-looking information contained in this Current Report on Form 8-K.

 

     
 

 

SIGNATURES

 

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

 

  AMERICAN INTERNATIONAL HOLDINGS CORP
     
Dated: October 8, 2019 By: /s/ Jacob D. Cohen
  Name: Jacob D. Cohen
    Chief Executive Officer

 

     
 

 

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into on this 1st day of October 2019, by and between American International Holdings Corp (the “Company”) and Jesse L. Dickens, Jr. (“Employee”).

 

WHEREAS, the Company desires to employ the Employee to serve as the Chief Executive Officer (CEO) of its wholly owned subsidiary, Capitol City Solutions USA, Inc.; and

 

WHEREAS, Employee wishes to be employed by the Company and provide services to the Company in return for certain compensation.

 

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, it is hereby agreed by and between the parties hereto as follows:

 

article I.
EMPLOYMENT AND ACCEPTANCE

 

1.1 Employment. Upon the terms and subject to the conditions set forth in this Agreement, the Company hereby engages Employee and Employee hereby accepts such engagement.

 

1.2 Duties. Employee shall serve as the Chief Executive Officer (CEO) of its wholly owned subsidiary, Capitol City Solutions USA, Inc. and shall perform such employment duties as are usual and customary for such positions and such other duties as the Board of Directors of the Company (the “Board”) shall from time to time reasonably assign to Employee and shall report to the Board of Directors of the Company.

 

article II.

TERM AND TERMINATION

 

2.1 Term of Employment. This Agreement shall be effective on as of the date first mentioned above (the “Effective Date”), and shall continue for a one-year term unless sooner terminated as provided herein (the “Employment Period”). The Agreement will automatically be renewed for additional one-year terms unless either party gives written notice of non-renewal at least thirty (30) days prior to the renewal date.

 

2.2 Termination. This Agreement may be terminated at any time by the mutual written agreement of the parties or by either party for any reason with thirty (30) days advance written notice. In addition, the Company may terminate this Agreement immediately if Employee is in breach of this Agreement.

 

2.3 Effect of Termination. Upon termination of this Agreement for any reason, Employee shall only be eligible to receive the Compensation accrued as of the effective date of termination.

 

article III.
COMPENSATION

 

3.1 Compensation. During the Employment Period, Employee shall receive a starting annual base salary (the “Base Salary”) of $120,000 from the Effective Date through October 1, 2020 and shall be paid at such intervals as the Company pays executive salaries generally. During the Employment Period, the Base Salary shall be reviewed at least annually for possible increase (but not decrease) in the Company’s sole discretion, as determined by the Company’s compensation committee or Board. Any increase in Base Salary shall not serve to limit or reduce any other obligation to Employee under this Agreement. The term “Base Salary” as utilized in this Agreement shall refer to Base Salary as so adjusted.

 

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3.2 Equity. Employee shall receive an equity grant in the amount of one million (1,000,000) shares of the Company’s common stock (the “Equity Shares”). The Equity Shares shall be issued and vested on the following schedule.

 

  250,000 shares shall be issued to Employee at the signing of this Agreement;
  250,000 shares shall be issued to Employee on January 1, 2020;
  250,000 shares shall be issued to Employee on April 1, 2020;
  250,000 shares shall be issued to Employee on July 1, 2020;

 

Further, and in addition to the Equity Shares, Employee shall be eligible to participate in additional stock grants or option award programs as determined by the Company from time to time.

 

3.3 Bonuses. In addition to the Base Salary, Employee shall be eligible to earn cash performance bonuses which shall be determined from time to time by the Company’s compensation committee.

 

3.4 Welfare Benefit Plans. During the Employment Period, Employee and Employee’s eligible family members shall be eligible for participation in the welfare benefit plans, practices, policies and programs (including, if applicable, medical, dental, disability, employee life, group life and accidental death insurance plans and programs) maintained by the Company for its senior executives.

 

3.5 Expenses. During the Employment Period, Employee shall be entitled to receive prompt reimbursement for all reasonable business expenses incurred by Employee in accordance with the policies, practices and procedures of the Company provided to senior executives of the Company.

 

3.6 Fringe Benefits. During the Employment Period, Employee shall be entitled to such fringe benefits and perquisites as are provided by the Company to its senior executives from time to time, in accordance with the policies, practices and procedures of the Company.

 

3.7 Automobile. Employee shall be entitled to an automobile allowance of One Thousand Five Hundred Dollars ($1500) per month.

 

ARTICLE IV

CONFIDENTIALITY; PROPRIETARY RIGHTS

 

4.1 Definition of Confidential Information. “Confidential Information” means all information of any kind, type or nature (written, stored on electronic or other media or oral) which is or has been compiled, prepared, devised, developed, designed, discovered or otherwise learned of by Employee in connection with Employee’s relationship or employment with the Company, to the extent that such information relates to the Company or any of its affiliated entities. Without limiting the generality of the foregoing, Confidential Information includes information included within or relating to any patient files, products or services, finances, business plans, marketing plans, legal affairs, suppliers, customers, potential customers, prospects, opportunities, contracts or assets of the Company or any of its respective affiliates. Confidential Information also includes any information made available to the Company by its clients or other third parties and which it is obligated to keep confidential.

 

4.2 Duty to Safeguard Confidential Information. At all times during the Term of this Agreement and thereafter, Employee will hold in strictest confidence and will not disclose, use, provide access to, or publish any Confidential Information, except as such disclosure, use or publication may be required in connection with Employee’s services for the Company. Employee agrees that all Confidential Information, whether prepared by Employee or otherwise coming into Employee’s possession, shall remain the exclusive property of the Company during Employee’s employment with the Company. Employee will obtain the Company’s written approval before publishing or submitting for publication any material (written, oral, or otherwise) that relates to Employee’s work at the Company, any Confidential Information and/or any material that incorporates any Confidential Information.

 

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4.3 Return of Company Property. When Employee’s employment with the Company terminates for any reason, Employee will promptly (within seven (7) days) deliver to the Company any and all the Company Property. “the Company Property” includes, without limitation, Confidential Information, notes, memoranda, specifications, products, and samples, together with all copies thereof. the Company has the right to offset any loss incurred for failure to return property against any remaining and/or future unpaid wages. This offset does not limit employee liability.

 

ARTICLE V

COMPLIANCE

 

5.1 Compliance Affirmation. As an inducement to the Company to enter into this employment relationship with the Employee, the Employee does hereby represent and warrant that in performing services under this Agreement the Employee has and at all times will continue to adhere to each of the following provisions:

 

(a) Comply with all state and federal laws, rules and regulations pertaining to making or receiving any bribe, kickback payment or other illegal payment. Further, Employee and the Company each warrant and represent to the other that no direct or indirect payment shall be made by Employee or the Company to or from the other to induce the referral of a patient for services.

(b) Do nothing that will create a conflict of interest with the Company or any of its affiliates or create a default under any agreement, contract, instrument, order or judgment to which the undersigned is a party or otherwise subject.

(c) Comply with all policies and procedures established by the Company and any amendments thereto.

 

5.2 Non-Competition/Non-Solicitation.

 

(a) The Employee acknowledges that during the Employee’s relationship with the Company, the Company will be providing the Employee, and the Employee will receive from the Company, special training and knowledge, including Confidential Information (as defined herein above). The Employee acknowledges that this Confidential Information is valuable to the Company and, therefore, its protection and maintenance constitutes a legitimate interest to be protected by this covenant not to compete. Therefore, the Employee agrees while employed by, contracted, with, or otherwise engaged with the Company or any of its affiliated entities and for a period of two (2) years after the termination of such relationship, the Employee shall not, without the Company’s prior written consent, directly or indirectly: become an owner, partner, employee, independent contractor, agent, or otherwise involved with any business that competes with the Company or provides management services to any the Company within a twenty (20) mile radius of the Company’s location(s).

 

(b) The Employee agrees and covenants that while employed by or otherwise engaged with the Company and for a period of two (2) years after the termination of such relationship, the Employee shall not either (i) directly as a partner, employer, agent, independent contractor, or employee, or (ii) indirectly through a corporation, partnership, affiliate, subsidiary, or otherwise, unless approved by the Company:

 

  (a) solicit, induce, or attempt to induce, in connection with any business competitive with that of the Company, patients of the Company to cease using the Company; or

 

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  (b) solicit, induce, or attempt to induce, any employee, consultant, referral source, owner, or other persons associated with the Company to leave the employment of, or to discontinue their association with the Company.

 

Failure to adhere to the covenants herein will result in discipline, up to and including immediate termination of this Agreement, and may result in other legal action being taken by the Company with respect to any breach of the covenants contained herein.

 

ARTICLE VI
MISCELLANEOUS

 

6.1 Notices. Any notice or other communication required or permitted hereunder shall be in writing and shall be delivered personally, sent by nationally-recognized overnight delivery service or sent by certified or registered mail, postage prepaid, return receipt requested, to the address as set forth below; receipt shall be deemed to occur on the earlier of the date of actual receipt or receipt by the sender of confirmation that the delivery was completed or that the addressee has refused to accept such delivery or has changed its address without giving notice of such change as set forth herein:

 

if to the Company, to:

 

3990 Vitruvian Way, Suite 1152

Addison, TX 75001

 

if to Employee, to:

 

13879 Cr 4200

Lindale, TX 75771

 

Either party may change its address for notice hereunder by written notice to the other party hereto.

 

6.2 Entire Agreement. This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior discussions and agreements, written or oral, with respect thereto.

 

6.3 Waivers and Amendments. This Agreement may be amended, suspended, cancelled, renewed or extended, and the terms and conditions hereof may be waived, only by a written instrument signed by both parties or, in the case of a waiver, by the party waiving compliance. No delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof. Nor shall any waiver on the part of any party of any such right, power or privilege hereunder, nor any single or partial exercise of any right, power or privilege hereunder, preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder.

 

6.4 Assignment. This Agreement shall inure to the benefit of and shall be binding upon Employee and his or her executor, administrator, heirs, personal representative and assigns, and the Company and its successors and assigns (including, without limitation, any successor to the assets of the Company); provided, however, that Employee shall not be entitled to assign any of his or her rights or delegate any of his or her duties under this Agreement. Employee agrees that this Agreement may be freely assigned by the Company to any person or entity which succeeds to all or any significant portion of the Company’s assets or business, whether pursuant to a sale of assets, sale of stock, merger or other similar transaction.

 

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6.5 Severability: Construction. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held by a court of competent jurisdiction to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement. Use of the word “including” shall not be limited by the terms following such word. All references to singular or plural terms shall mean the other where appropriate.

 

6.6 Choice of Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas, without reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives.

 

6.7 Headings. The section and subsection headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

 

6.8 Counterparts. This Agreement may be executed in separate counterparts, each of which when executed and delivered shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written.

 

EXECUTIVE   CAPITOL CITY SOLUTIONS USA, INC.
         
      By:  
Name: Jesse Dickens   Name: Esteban Alexander
      Title: Director

 

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American International Holdings Corp Appoints JJ Dickens, as CEO of its Subsidiary, Capitol City Solutions USA, Inc.

 

HOUSTON, TX, October 8, 2019 (GLOBE NEWSWIRE) — American International Holdings Corp. (OTC: AMIH, or the “Company”) is pleased to announce that it has appointed JJ Dickens, as the CEO of its newly formed wholly owned subsidiary, Capitol City Solutions USA, Inc. (“CCS”). CCS was formed to act as a general contracting and construction company focused on the remodeling, general construction and interior finish of both the Company’s newly established Novopelle branded med spa locations as well as to market to other commercial real estate projects within the United States.

 

JJ Dickens brings over 10 years of construction and project management experience to CCS. Over his career, Mr. Dickens has acted as a general contractor for both large scale residential and commercial projects. Further, Mr. Dickens, through his previously owned and operated companies, has achieved preferred vendor status with real estate companies such as CBRE, as well as F.C.A.

 

“We are very happy that JJ Dickens has agreed to join our team and to act as CEO of our newly created subsidiary, Capitol City Solutions USA, Inc.,” comments Jacob Cohen, the Company’s President and CEO. “JJ has a successful track record working on both large scale residential and commercial construction and development projects. Not only will he be assisting us in lowering our overall construction costs as we seek to establish additional Novopelle locations, but we intend to leverage his long-standing relationships to gain access to very lucrative and profitable commercial construction projects in the future as well,” further comments Mr. Cohen.

 

About The Company

 

American International Holdings Corp (OTC:AMIH) is a diversified holding company dedicated to acquiring, managing and operating health, wellness, beauty, and lifestyle companies, businesses and/or brands located both in the United States and abroad. The Company seeks opportunities to acquire and grow businesses that possess strong brand values and that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for the Company and its stakeholders.

 

Legal Disclaimer

 

This press release may contain forward-looking statements including words such as “may,” “can,” “could,” “should,” “predict,” “aim,” “potential,” “continue,” “opportunity,” “intend,” “goal,” “estimate,” “expect,” “expectations,” “project,” “projections,” “plans,” “anticipates,” “believe,” “think,” “confident,” “scheduled,” or similar expressions, as well as information about management’s view of American International Holding Corp’s future expectations, plans and prospects. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of American International Holding Corp, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents American International Holding Corp files with the Securities and Exchange Commission, including, but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on American International Holding Corp’s future results. American International Holding Corp cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Such forward-looking statements should not be relied upon as indicative of current value or as a guarantee of future results, herein, and shall not be relied upon as a promise or representation.

 

Further, the Company shall not be responsible for statements made on Novopelle’s website at www.Novopelle.com.

 

In this release, we may rely on and refer to information regarding our industry and the market for our products in general from market research reports, analyst reports and other publicly available information. Although we believe that this information is reliable, we cannot guarantee the accuracy and completeness of this information, and we have not independently verified any of it. Some data is also based on our good faith estimates.

 

SOURCE: American International Holdings Corp.

 

Contact information at: info@amihcorp.com