Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 21, 2022, Motorsport Games Inc. (the "Company") notified Stephen
Hood, the Company's President, that his position will be eliminated effective
January 21, 2022. Mr. Hood has served in this role since April 2019. Mr. Hood
will receive the following separation payments: £43,750 in lieu of his
entitlement to 3 months' termination notice, £37,019.23 in lieu of accrued but
untaken holiday pay and an £60,000 ex gratia settlement payment which includes
statutory redundancy as required under the law of England & Wales.
Effective immediately upon such termination, Dmitry Kozko, the Company's Chief
Executive Officer, will assume all responsibilities of overseeing the Company's
Development Studio. No additional compensation arrangements have been made in
connection with Mr. Kozko's assuming such responsibilities.
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