Company: BUDZ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000350
Chunk: 366

Company: WEED, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 366
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reen, an aggregate of 15,927 shares of common stock held in the name of Ms. Breen’s children, and 4,012,972 held in the name of Ryan Breen, Ms. Breen’s husband. Also includes options to acquire 2,000,000 shares of our common stock at an exercise price of $10.55, which options expire ten years from the date of grant.

The issuer is not aware
of any person who owns of record, or is known to own beneficially, ten percent or more of the outstanding securities of any class of the
issuer, other than as set forth above. The issuer is not aware of any person who controls the issuer as specified in Section 2(a)(1) of
the 1940 Act. There are no classes of stock other than common stock issued or outstanding. The Company does not have an investment advisor.

36

ITEM 13 – CERTAIN RELATIONSHIPS AND RELATED
TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Employment Contracts

In 2014 and 2016 we entered
into employment agreements with Glenn E. Martin, our Chief Executive Officer and Chief Financial Officer, Nicole Breen, our Secretary
and Treasurer and Ryan Breen, our Vice President and Social Media Officer.

Under the terms of our agreement
with Mr. Martin dated October 1, 2016, he serves as our President and Chief Executive Officer. The agreement was for a two-year term and
Mr. Martin received Seven Million (7,000,000) shares of our common stock, restricted in accordance with Rule144, and was to receive Seven
Million (7,000,000) additional shares as his annual salary for agreeing to serve as our President and Chief Executive Officer. Additionally,
Mr. Martin was entitled to One Million (1,000,000) shares of a yet-to-be-created class of Series B Preferred Stock if we regained “fully-reporting”
status with the Securities and Exchange Commission. We are obligated to maintain and pay the premiums for “key man” life insurance
in the amount of $1,000,000. Our agreement with Mr. Martin also contained various provisions related to his termination without cause
and in the event we undergo a change of control transaction. To date, no “key man” insurance has been obtained.

On January 23, 2018, our
Board of Directors agreed to enter into an Amended and Restated Employment Agreement with Glenn E. Martin. Under