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8-K - FORM 8-K - RenovaCare, Inc.f8k_041221.htm

Exhibit 17.1

 

Robert W. Cook 119 Hunterdon Blvd. Murray Hill, N.J . 0797 4 April 7, 2021 Kaiyo Nedd, MD President & CEO RenovaCare , Inc . 4 Becker Farm Road , Suite 105 Roseland, NJ 07068 DearKaiyo: Re : Termination I refer to the Employment Agreement between RenovaCare, Inc. and me dated June 15, 2020 (the " Agreement") . Based upon our recent discussions, email correspondence and the actions Harmel and you have taken in recent weeks , I have concluded that the Company is in violation of Section 2 . 1 of the Agreement, specifically that " the Employee shall have such responsibility and authority as is customari l y possessed and exercisable by the 'Chie f Financial Officer' and 'Corporate Secre t ary' of a corporation (the 'Executive Positions')... ". Further , I have been prevented from carrying out a substan tial number of those responsibilities listed in Exhibit 2 . 1 of the Agreement, which describes other executive and administrativ e duties consistent with the Execu t ive Positions which I was reasonably expected to perform. The violations noted above constitute a termination ofmy employment with the Company . Further, termination has occurred without the required notice as per Section 4.4 of the Agreement. In accordance with Section 5.4 of the Agreemen , t I am entitled to compensation as a result of termination. Please prepare the documentation for execution as soon as possible. Robert W. Cook Cc: Harmel S. Rayat , Chairman c f th e Board