Item 5.02 Departure of Directors or Certain Officers; Election of Directors;


           Appointment of Certain Officers; Compensatory Arrangements of Certain
           Officers.



On March 23, 2022, David W. Pointer tendered his resignation as a member of the Board of Directors (the "Board") of Novation Companies, Inc. (the "Company") effective March 31, 2022. Mr. Pointer, the former Chief Executive Officer of the Company, had served as a member of the Board since March 27, 2018. His decision was based on personal reasons and not a result of any disagreement between him and the Company on any matter relating to the Company's operations, policies, personnel or practices.

On March 25, 2022, Mark Hampton tendered his resignation as Chief Executive Officer of Healthcare Staffing, Inc., the Company's wholly owned subsidiary ("HCS"), effective as of March 31, 2022. Mr. Hampton served in his role as Chief Executive Officer of HCS since June 25, 2021.

On March 28, 2022, Carolyn K. Campbell tendered her resignation as Chief Financial Officer of the Company effective as of April 15, 2022. Ms. Campbell served in her role as Chief Financial Officer since August 9, 2017.

As previously reported on January 20, 2022, Michael Wyse, the Chief Restructuring Officer of the Company, is providing services to the Company through an engagement letter with Wyse Advisors LLC ("WALLC") for an engagement fee of $20,000, 5% of the Gross Proceeds of HCS assets, inclusive of accounts receivable monetization, and 4% of the gross proceeds for the monetization of Novation assets and any other assets of the Company (the "Success Fee").

On March 30, 2022, the Company amended the engagement letter to provide that WALLC shall receive a monthly fee of $30,000 to be credited against the Success Fee.

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