# EDGAR Filing Document

**Accession Number:** 0001563298
**File Stem:** 0001553350-23-000039
**Filing Date:** 2023-1
**Character Count:** 23617
**Document Hash:** 3b4217bd85f4d5bb7a63fa92a10a7c56
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001553350-23-000039.hdr.sgml**: 20230120

**ACCESSION NUMBER**: 0001553350-23-000039

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230118

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230120

**DATE AS OF CHANGE**: 20230120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Energy & Water Development Corp
- **CENTRAL INDEX KEY:** 0001563298
- **STANDARD INDUSTRIAL CLASSIFICATION:** AIR COND & WARM AIR HEATING EQUIP & COMM & INDL REFRIG EQUIP [3585]
- **IRS NUMBER:** 300781375
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56030
- **FILM NUMBER:** 23540977

**BUSINESS ADDRESS:**
- **STREET 1:** 7901 4TH ST. N
- **STREET 2:** SUITE 4174
- **CITY:** ST. PETERSBURG
- **STATE:** FL
- **ZIP:** 33702
- **BUSINESS PHONE:** 305-517-7330

**MAIL ADDRESS:**
- **STREET 1:** 7901 4TH ST. N
- **STREET 2:** SUITE 4174
- **CITY:** ST. PETERSBURG
- **STATE:** FL
- **ZIP:** 33702

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EUROSPORT ACTIVE WORLD CORP
- **DATE OF NAME CHANGE:** 20121129

?xml version="1.0" encoding="utf-8"?

**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): January 18, 2023**

——————

**Energy and Water Development Corp.**

*(Exact name of registrant as specified in its charter)*

——————

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| | | |
|:---|:---|:---|
| **Florida** | **000-56030** | **30-0781375** |
| *(State or Other Jurisdiction* | *(Commission* | *(I.R.S. Employer* |
| *of Incorporation)* | *File Number)* | *Identification No.)* |

---

**7901 4th St. N, Suite 4174**

**St. Petersburg, FL 33702**

 *(Address of Principal Executive Office) (Zip Code)*

**305-517-7330**

*(Registrant's telephone number, including area code)*

 *(Former Name or 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:

☐ 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** |

---

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 checkmark 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.**

**(b)** **Resignation of Interim Chief Financial Officer** 

 ****

Effective as of January 18, 2023, Mr. Gary Rodney has resigned as Interim Chief Financial Officer of Energy and Water Development Corp. (the "Company"). Mr. Rodney's resignation is not a result of any disagreement with the Company or its independent auditors on any matter relating to the Company's accounting, strategy, management, operations, policies, regulatory matters, or practices (financial or otherwise).

In connection with Mr. Rodney's departure, that certain Consulting Services Agreement with InfoQuest Technology, Inc. dated June 2, 2021 (the "Consulting Agreement"), pursuant to which Mr. Rodney was providing his services as Interim Chief Financial Officer, was simultaneously terminated and the Company entered into a Settlement and Release Agreement (the "Release Agreement") whereby the Company has agreed to issue an aggregate 6,250,000 shares of the Company's common stock to Mr. Rodney in full and complete satisfaction of any and all amounts owed to pursuant to the Consulting Agreement.

 ****

The foregoing description of the Release Agreement contained herein does not purport to be complete and is qualified in its entirety by reference thereto, which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.** 

(d)Exhibits

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1 | [Settlement and Release Agreement dated effective as of January 18, 2023 by and among Energy and Water Development Corp., Gary Rodney, and InfoQuest Technology, Inc.](eawd_ex10z1.htm) |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |

---

**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.

---

| | | |
|:---|:---|:---|
|  | **Energy and Water Development Corp.** | **Energy and Water Development Corp.** |
| Dated: January 18, 2023 | By: | /s/ Irma Velazquez |
|  | Name:<br> Title: | Irma Velazquez<br> Chief Executive Officer |

---

## Exhibit 10.1

**<u>SETTLEMENT AND RELEASE AGREEMENT</u>**

THIS SETTLEMENT AND RELEASE AGREEMENT (this "**Agreement**"), dated as of January 18, 2023 is made and entered into by and among InfoQuest Technology, Inc. ("**InfoQuest**"), Gary Rodney ("**Rodney**" and together with InfoQuest, "**Consultant**"), and Energy and Water Development Corp. (the "**Company**"). InfoQuest, Rodney, and the Company are each referred to herein as a "**Party**" and are collectively referred to herein as the "**Parties**."

**<u>BACKGROUND</u>**

**WHEREAS**, the Company and InfoQuest entered into that certain Consulting Services Agreement dated June 2, 2021 (the "**Consulting Agreement**") whereby, among other things, Rodney was to serve as the Company's Interim Chief Financial Officer;

**WHEREAS**, effective as of the date hereof, the Parties have mutually agreed to terminate the Consulting Agreement; and

**WHEREAS**, through the date of this Agreement, the Company has accrued but has not paid an aggregate $133,000.00 in compensation pursuant to the Consulting Agreement (the "**Accrued Compensation Amount**").

**NOW**, **THEREFORE**, to avoid the costs and uncertainties of litigation, to promote the common interests among the Parties, and without admission of any liability or wrongdoing on the part of any Party, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the Parties hereby agree as follows:

**<u>AGREED TERMS</u>**

**1. Settlement Payment**. In consideration of Consultant's execution of and compliance with this Agreement, including Consultant's waiver and release of claims in Section 2, and in full satisfaction of all claims Consultant may have against the Company relating to the Accrued Compensation Amount, the Company agrees to issue to Rodney, a lump sum payment of 6,250,000 shares of its common stock payable as follows: (i) 4,375,000 restricted shares of common stock in the Company (the "**Restricted Shares**") and (ii) 1,875,000 shares of fully-vested common stock of the Company (the "**LTIP Shares**" and together with the Restricted Shares, the "**Settlement Shares**") pursuant to the Energy and Water Development Corp. 2022 Long Term Incentive Plan (the "**LTIP**").

**2. Release and Waiver of Claims**. In exchange for the consideration provided by the Company in this Agreement, InfoQuest (for itself and on behalf of its affiliates, successors and assigns) and Rodney (for himself and his heirs, executors, representatives, administrators, agents, and assigns) (collectively the "**Releasors**") irrevocably and unconditionally fully and forever waive, release, and discharge the Company, including the Company's parents, subsidiaries, affiliates, predecessors, successors, and assigns, and each of its and their respective officers, directors, employees, shareholders, representatives, and agents in their corporate and individual capacities (collectively, the "**Released Parties**"), from any and all claims, demands, actions,

causes of actions, judgments, rights, fees, damages, debts, obligations, liabilities, and expenses (inclusive of attorneys' fees) of any kind whatsoever, whether known or unknown (collectively, "**Claims**"), that Releasors may have or have ever had against the Released Parties, or any of them, arising out of, or in any way related to Consultant's engagement by the Company, the Consulting Agreement, or the Accrued Compensation Amount through the date of this Agreement. This release and waiver of Claims excludes, and neither InfoQuest nor Rodney waives, releases, or discharges any claims which cannot be waived by law.

**3. <u>Representations</u>**. InfoQuest and Rodney each represents that no promise or inducement has been made or offered by the Company, except as set forth herein, and that this Agreement is not executed in reliance upon any statement or representation of the Company or its representatives, not otherwise reflected herein. Neither InfoQuest nor Rodney has assigned, pledged, or otherwise in any manner whatsoever sold or transferred, either by instrument or otherwise, any right, title interest, demand, cause of action, or claim that is the subject of the releases set forth in Section 2. Each signatory to this Agreement has full and complete authorization and power to execute this Agreement in the capacity herein stated, and on behalf of the Party for which the signatory is listed.

a. Each Party hereby warrants and represents that it has full power and authority to enter into and perform this Agreement, and that its entry into and full performance of this Agreement will not violate the rights of any third parties, including, without limitation, any third party's rights under any non-solicitation, non-compete, restrictive or other similar covenant or agreement by which a Party is or may be bound.

b. Consultant understands and accepts that the Settlement Shares involve various risks and acknowledges that it is able to bear any loss associated with an investment in the Settlement Shares or receipt of the Settlement Shares as payment hereunder.

c. Consultant confirms that it is not relying on any communication (written or oral) of the Company or any of its affiliates, as investment advice or as a recommendation to accept the Settlement Shares as payment hereunder. It is understood that information and explanations related to the terms and conditions of the Settlement Shares by the Company or any of its affiliates shall not be considered investment advice or a recommendation to accept the Settlement Shares as payment hereunder, and that neither the Company nor any of its affiliates is acting or has acted as an advisor to Consultant in deciding to invest in or receive the Settlement Shares as payment hereunder. Consultant acknowledges that neither the Company nor any of its affiliates has made any representation regarding the proper characterization of the Settlement Shares for purposes of determining Consultant's authority to invest in or receive the Settlement Shares as payment hereunder.

d. Consultant is familiar with the business and financial condition and operations of the Company and has had access to such information concerning the Company and the Settlement Shares as it deems necessary to enable it to make an informed investment decision concerning the Settlement Shares.

e. Consultant has such knowledge, skill and experience in business, financial and investment matters that it is capable of evaluating the merits and risks of an investment in or receipt of the Settlement Shares as payment hereunder and it has made its own legal, tax, accounting, and financial evaluation of the merits and risks of an investment in or receipt of the Settlement Shares as payment hereunder and the consequences of this Agreement.

f. Each of InfoQuest and Rodney is an "accredited investor" as defined in Rule 501(a) under the Securities Act of 1933, as amended (the "**Securities Act**") and each agrees to furnish any additional information requested by the Company or any of its affiliates to assure compliance with applicable U.S. federal securities laws and/or "blue sky" or other similar laws of any applicable jurisdiction (collectively referred to as the "**State Securities Laws**") in connection with the issuance of the Settlement Shares. Any information that has been furnished or that will be furnished by either InfoQuest or Rodney to evidence its status as an accredited investor is accurate and complete, and does not contain any misrepresentation or material omission.

g. Consultant is acquiring the Settlement Shares solely for its own beneficial account, for investment purposes, and not with a view to, or for resale in connection with, any distribution of the Settlement Shares. Consultant understands that the Restricted Shares have not been registered under the Securities Act or any State Securities Laws by reason of specific exemptions under the provisions thereof which depend in part upon Consultant's investment intent and of its other representations made in this Agreement. Consultant understands that the Company is relying upon the representations and agreements contained in this Agreement (and any supplemental information) for the purpose of determining whether this transaction meets the requirements for such exemptions.

h. Consultant understands that the Restricted Shares are "restricted securities" under applicable federal securities laws and that the Securities Act and the rules of the U.S. Securities and Exchange Commission (the "**Commission**") provide in substance that Consultant may dispose of the Restricted Shares only pursuant to an effective registration statement under the Securities Act or an exemption therefrom, and Consultant understands that the Company has no obligation or intention to register any of the Restricted Shares, or to take action so as to permit sales pursuant to the Securities Act (including Rule 144 thereunder). Accordingly, Consultant understands that under the Commission's rules, Consultant may dispose of the Restricted Shares principally only in "private placements" which are exempt from registration under the Securities Act, in which event the transferee will acquire "restricted securities" subject to the same limitations as in Consultant's hands. Consequently, Consultant understands that it must bear the economic risks of the investment in the Restricted Shares for an indefinite period of time.

i. Consultant agrees: (A) that it will not sell, assign, pledge, give, transfer, or otherwise dispose of the Restricted Shares or any interest therein, or make any offer or attempt to do any of the foregoing, except pursuant to a registration of the Restricted Shares under the Securities Act and all applicable State Securities Laws, or in a transaction which is exempt from the registration provisions of the Securities Act and all applicable State Securities Laws; (B) that the certificates (if any) representing the Restricted Shares will bear a legend making reference to the foregoing restrictions; and (C) that Company and its transfer agent shall not be required to give effect to any purported transfer of the Restricted Shares except upon compliance with the foregoing restrictions.

j. Consultant acknowledges that neither the Company nor any other person offered the Settlement Shares by means of any form of general solicitation or advertising, including but not limited to (A) any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio or (B) any seminar or meeting whose attendees were invited by any general solicitation or general advertising.

k. The Company, InfoQuest, and Rodney (each sometimes referred to herein as the "**Indemnifying Party**") will indemnify and hold harmless each other and each other's respective officers, directors, employees, agents, and representatives (each sometimes referred to herein as the "**Indemnified Party**") from and against any and all liability, loss, damage, cost, or expense (including reasonable outside attorneys' fees) arising from any claim made as a result of the Indemnifying Party's failure to comply with any of the warranties, representations, or covenants made by the applicable Indemnifying Party in this Agreement. The applicable Indemnifying Party agrees to reimburse the applicable Indemnified Party on demand for any payment made or incurred by such Indemnified Party with respect to any liability or claim to which the foregoing indemnity applies.

**4.** **<u>One-Time Piggyback Registration</u>**. If (but without any obligation to do so) the Company proposes to register any Company securities under the Securities Act in connection with the public offering of such securities solely for cash (other than a registration statement on Form S-8 or Form S-4 or any successor or other forms promulgated for similar purposes, a registration in which the only shares being registered are shares issuable upon conversion of debt securities which are also being registered, an underwritten public offering, or any registration on any form which does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Settlement Shares), the Company shall, at such time, promptly give Consultant written notice of such registration. Upon the written request of Consultant given within ten (10) days after mailing of such notice by the Company, the Company shall use commercially reasonable efforts to cause to be registered under the Securities Act all of the Settlement Shares that Consultant has requested to be registered. Registration pursuant to this Section 4 shall not be deemed to be a demand registration. If Consultant decides not to include all or any of the Settlement Shares in such registration by the Company, Consultant shall forfeit the right to include any Settlement Shares in any subsequent registration statement or registration statements as may be filed by the Company with respect to offerings of Company securities.

**5.** **<u>Tax Effects</u>**. Consultant agrees and acknowledges that the Company and its counsel have not made any representations to Consultant regarding the tax consequences of any payments or amounts received by Consultant pursuant to this Agreement. Consultant agrees to indemnify the Company against the payment of any taxes, interest, penalties, and other liabilities or costs that may be assessed on the settlement payment described above.

**6. <u>No Admission of Liability</u>**. The Parties acknowledge that the terms set forth herein were agreed upon as a compromise and final settlement of all of the disputes relating to the Accrued Compensation Amount and are not, and may not be construed as, an admission of liability by the Company and is not to be construed as an admission that the Company engaged in any wrongful, tortious, or unlawful activity.

**7. <u>Further Assurances</u>**. The Parties agree to take all actions and to make, deliver, and/or sign any other documents and instruments that are necessary to carry out the terms, provisions, purpose, and intent of this Agreement.

**8. <u>Legally Binding Agreement</u>**. The Parties intend that this Agreement be legally binding upon and shall inure to the benefit of each of them and their respective successors, assigns, executors, administrators, heirs, and estates.

**9. <u>Entire Agreement</u>**. Any recitals set forth at the beginning of this Agreement are incorporated by reference and made a part of this Agreement. This Agreement constitutes the entire agreement and understanding of the Parties and supersedes all prior negotiations and/or agreements, proposed or otherwise, written or oral, concerning the subject matter hereof. No modification of this Agreement shall be binding unless in writing and signed by each of the Parties hereto.

**10. <u>Interpretation.</u>** Should any provision of this Agreement be declared or be determined by any court to be illegal or invalid, the validity of the remaining parts, terms, or provisions shall not be affected thereby and said illegal or invalid part, term, or provision shall be deemed stricken from this Agreement. The headings within this Agreement are purely for convenience and are not to be used as an aid in interpretation. This Agreement shall not be construed against either Party as the author or drafter of the Agreement.

**11. <u>Governing Law and Choice of Forum.</u>** This Agreement and all related documents and all matters arising out of or relating to this Agreement, whether sounding in contract, tort, or statute are governed by, and construed in accordance with, the laws of Florida, without giving effect to the conflict of law provisions thereof to the extent such principles or rules would require or permit the application of the laws of any jurisdiction other than those of Florida. Each Party irrevocably and unconditionally agrees that it will not commence any action, litigation, or proceeding of any kind whatsoever against any other Party in any way arising from or relating to this Agreement and all contemplated transactions, including, but not limited to, contract, equity, tort, fraud, and statutory claims, in any forum other than the state or federal courts of Florida. Each Party irrevocably and unconditionally submits to the exclusive jurisdiction of such courts. Each Party agrees that a final judgment in any such action, litigation, or proceeding is conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

**12. <u>Counterparts.</u>** This Agreement may be executed by the Parties in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The Parties agree that PDF or electronic signatures to this Agreement are authentic and have the same force and effect as original, manual signatures.

**-Signature Page Follows-**

**IN WITNESS WHEREOF**, and intending to be legally bound, each of the Parties hereto has caused this Settlement and Release Agreement to be executed as of the date last written above.

**COMPANY**:

**Energy and Water Development Corp.** 

By: <u>/s/ Irma Velazquez</u>

Irma Velazquez, Chief Executive Officer

**CONSULTANT**:

<u>/s/ Gary Rodney</u>

Gary Rodney, an individual

**InfoQuest Technology, Inc.** 

By: <u>/s/ Gary Rodney</u>

Gary Rodney, Chief Executive Officer