Item 1.02 Termination of a Material De?nitive Agreement.

The information set forth in Item 5.02 below regarding the termination of the Employment Agreement, dated as of August 19, 2021 (the "Employment Agreement") by and between Karen Fordham and Puget Technologies, Inc. ("Company" or the "Registrant") is incorporated by reference into this Item 1.02. A copy of the Employment Agreement was provided in Registrant's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on August 25, 2021.




  Item 5.02    Departure of Directors or Certain O?cers; Election of Directors;
               Appointment of Certain O?cers; Compensatory Arrangements of Certain
               O?cers.




(b) Departure of Officer

On January 27, 2022, Karen Fordham, the President and Chief Executive Officer of the Company, notified the Company she was terminating the Employment Agreement for good reason thereunder effective immediately. The Company expects to engage in discussions with Ms. Fordham regarding the terms of her departure. At the current time, she remains as a member of the Registrant's Board of Directors. The Registrant will be actively searching for a new President and Chief Executive Officer.

Pursuant to Section 4, Article III of Company's Bylaws, Hermann Burckhardt, the Chairman of the Registrant's Board of Directors and its former President and Chief Executive Officer, shall perform the duties of the Chief Executive Officer until a replacement is selected. Mr. Burckhardt's biography and compensation were disclosed in Registrant's Annual Report on Form 10-K filed with the SEC on February 12, 2021.

Mr. Burckhardt intends to remain active in consulting for the Registrant through his role as the president and chief executive officer of Qest Consulting Group, Inc., a Colorado corporation ("Qest") that serves as the Registrant's strategic advisor and is the Registrant's largest shareholder and "parent," as that term is defined in Rule 405 of SEC Regulation C (the relationship with Qest is most recently described in the Registrant's Current Report on Form 8-K filed with the SEC on November 9, 2021).

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