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PETROTERRA CORP. FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 16, 2014, PetroTerra Corp. (the "Company") appointed Kurt Reinecke as its Chief Operating Officer pursuant to an independent contractor agreement (the "Reinecke Agreement") with Arrow Peak Minerals and Royalty LLC ("Arrow"). Mr. Reinecke will perform the following services for the Company in his role as Chief Operating Officer: (i) oversee and coordinate the Company's exploration plan; (ii) coordinate any other land related task as may be identified from time to time by John Barton, the Company's Chief Executive Officer; and (iii) perform any other services that a chief operating officer may perform. The Reinecke Agreement is for a term of one year and will pay Arrow an aggregate of $90,000 over the term. Arrow is also entitled to receive an aggregate of 200,000 shares of the Company's common stock, par value $0.0001 per share (the "Common Stock"), to be earned as follows: (i) 50,000 shares were issued upon execution of the Reinecke Agreement; (ii) 50,000 shares will be issued upon the six month anniversary of the commencement of the Reinecke Agreement; and (iii) 100,000 shares will be issued upon the one year anniversary of the commencement of the Reinecke Agreement. Kurt Reinecke, 55, has been President of Arrow, an independent contractor providing geologic and exploration services to various clients associated with the domestic onshore oil and gas industry, since 2013. Mr, Reinecke began his career in geologic and exploration services in 1985. From 1985 to 2001 Mr. Reinecke was a staff geologist at Barrett Resources Corporation. Beginning in 2002, Mr. Reinecke was a founding member of Bill Barrett Corporation, an independent oil and gas exploration and operating company focusing on the Rocky Mountain basins. During his tenure at that company he rose from Vice President of Exploration - Southern Division to the position of Executive Vice President of Exploration for the Company, directing a staff of 26 professionals, and also serving on the Chairman's Committee. Mr. Reinecke does not have a family relationship with any director or executive officer of the Company. Mr. Reinecke has not been involved in any transaction with the Company that would require disclosure under Item 404(a) of the Regulation S-K. The description of the Reinecke Agreement is qualified in its entirety by reference to the complete text of the Reinecke Agreement, which is being filed with the SEC as Exhibit 10.1 hereto. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Independent Contractor Agreement, dated September 16, 2014, by and between the Company and Arrow Peak Minerals and Royalty LLC |