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

2020 Omnibus Equity Incentive Plan

On January 18, 2021, the Board of Directors of Silo Pharma, Inc. (the "Company") approved the Silo Pharma, Inc. 2020 Omnibus Equity Incentive Plan (the "Plan") to incentivize employees, officers, directors and consultants of the Company and its affiliates. The Plan provides for the grant, from time to time, at the discretion of the Board or a committee thereof, of cash, stock options, including incentive stock options and nonqualified stock options, restricted stock, dividend equivalents, restricted stock units, stock appreciation units and other stock or cash-based awards. The Plan shall terminate on the tenth anniversary of the date of adoption by the Board of Directors. Subject to certain restrictions, the Board of Directors may amend or terminate the Plan at any time and for any reason. An amendment of the Plan shall be subject to the approval of the Company's stockholders only to the extent required by applicable laws, rules or regulations. The Plan is subject to the approval of the Company's stockholders, and shall become effective on the date that it is approved by the Company's stockholders.

The foregoing description of the Plan does not purport to be complete and is subject to, and qualified in its entirety by reference to the full text of the Plan, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Amendment to Eric Weisblum's Employment Agreement

On January 18, 2021, the Company entered into an amendment (the "Amendment") to Eric Weisblum's employment agreement dated April 17, 2020, effective as of January 1, 2021, pursuant to which Mr. Weisblum's base salary was increased from $120,000 per year to $180,000 per year.

The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached as Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.





Exhibits



Exhibit No.   Description
   10.1+        Silo Pharma, Inc. 2020 Omnibus Equity Incentive Plan

   10.2+        First Amendment to Employment Agreement, dated January 18, 2021,
              by and between the Company and Eric Weisblum




 +   Indicates a management contract or any compensatory plan, contract or
     arrangement.




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