Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 380

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 2
Chunk 380
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 35% and 40% of the annual salary for the first, second and third
calendar years, respectively.

Chief
Strategy and Development Officer

On
April 1, 2024, the Company hired an individual as chief strategy and development officer vice president with an annual salary of $250,000.
The salary increases to $275,000 and $300,000 on the first and second anniversary dates, respectively. Also, the individual is eligible
for an annual bonus of up to 25%, 35% and 40% of the annual salary for the first, second and third calendar year end, respectively.

Note
6 – Stockholders Equity

STOCKHOLDERS EQUITY 

Stock
Options

On
November 15, 2024, the Company issued, to a consultant, a non-qualified stock option to purchase 350,000 shares of the Company’s
common stock at an exercise price of $5.00 per share, the fair market value of the Company’s common stock as of November 15, 2024
(the “Grant Date’).

The
350,000 options vests as follows:

    ●
    43,750
    shares on each of the following dates July 16, 2025, July 17, 2026, July 16, 2027 and July 16,2028;

    ●
    Phase
    (a) 17,500 shares upon the award of a GMP contract to a construction manager/company;

    ●
    Phase
    (b) 35,000 shares upon completion of the initial site development plan and data center design and 100% construction documents;

    ●
    Phase
    (c) 17,500 shares upon the Company receiving permits
    necessary to start construction of the data center site and facilities (including but not limited to power substation, water delivery,
    pumping, storage and on- site distribution systems, fiber conduit lines and communications systems, and on-site roads, water, power
    and communications grid, buildings, perimeter walls and security systems); 

    ●
    Phase
    (d) 35,000 upon the completion of all Network Ready meet me rooms in the first data center; and 

    ●
    Phase
    (e) 70,000 shares upon the completion of construction of a customer-ready data center facility and receipt of a conditional occupancy
    permit for a Data Center facility. 

    F-