By Dean Seal
The chief financial officer of Edible Garden has retired and will be succeeded on an interim basis by a company consultant.
The controlled environment agriculture produce grower disclosed Friday that Michael James retired from his positions as CFO as well as treasurer, secretary and director.
The board appointed Kostas Dafoulas to serve as interim CFO. Dafoulas has served since November as a consultant to the company on behalf of CapConnect+ to provide financial reporting and related services.
In connection with his departure, James has entered into an agreement with the company under which he will receive a severance payment of $300,000 over the next 12 months. He will also be eligible for another $300,000 in milestone payments if he completes certain transitional deliverables, according to a securities filing.
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