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On October 1, 2017, the Chief Executive Officer, Chief Financial Officer and each independent director of FitLife Brands, Inc. (the "Company") reduced their annual compensation by 15%, 12.5% and 10%, respectively. The affected officers and directors agreed to revisit executive and board compensation in light of the current reductions in six months based on the Company's results from operations and financial condition at such time. The reductions are in addition to certain other actions taken by management intended to increase the Company's operating margins, including certain other reductions in the Company's general and administrative costs and expenses.
FitLife Brands, Inc. |
By: | /s/ Michael Abrams |
Name: Michael Abrams | |
Title: Chief Financial Officer |