Effective July 1, 2016, Robert Farrell resigned as Chief Financial Officer of Amarantus Bioscience Holdings Inc. and all positions held with the company's subsidiaries. In connection with Mr. Farrell's resignation, the company entered into a Release Agreement with Mr. Farrell pursuant to which Mr. Farrell released the company from all action, claims and demands arising out of his employment with the company, any agreement concerning his employment or the termination of his employment with the company.