Ayro, Inc. on January 14, 2022, in connection with Mr. Smith's resignation, the Company and Mr. Smith entered into a General Release and Severance Agreement. Effective as of January 14, 2022, Brian Groh, who served as the Company's Chief of Business Development, terminated his engagement with the Company. Effective as of January 14, 2022, Richard Perley, who served as the company's Chief Marketing Officer, terminated his engagement with the Company.

As such, the independent contractor agreement between the Company and PerlTek, a corporation owned and controlled by Mr. Perley, dated August 27, 2018 was terminated. Mr. Hollingsworth will also serve as the Company's principal accounting officer and principal financial officer.