Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 446

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 446
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 annual bonus as determined by Longevity’s board of directors in its sole discretion. Mr. Zakes’ employment by Longevity is on an at-will basis and may be terminated by Longevity for any reason or no reason upon 60 days’ prior notice of termination. The agreement provides that if Mr. Zakes is terminated without cause or if he resigns for good reason (as such terms are defined in the agreement), and subject to a general release executed within 60 days following the termination date, then he will be entitled to (i) any accrued benefits (as defined in the agreement), (ii) a lump sum cash payment equal to 18 months of base salary in effect at the time of termination (the “Severance Payment”), and (iii) continued employee benefits (as defined in the agreement) for 18 months. If Mr. Zakes’ employment is terminated by Longevity for cause or by him without good reason, he will be entitled to receive only the accrued benefit. The termination of Mr. Zakes’ employment as a result of his death or disability will also entitle him to receive the Severance Payment.

Longevity also approved payment of a transaction bonus to Mr. Zakes in the amount of $500,000 upon the Closing.

Brenda Sparks

Ms. Sparks entered into an At-Will Employment, Confidential Information, Invention Assignment and Arbitration Agreement with Longevity dated October 4, 2022 in connection with her employment as the Chief Financial Officer of Longevity. Ms. Sparks’ employment is for an unspecified term and may be terminated at any time for any reason or no reason. Pursuant to her offer letter dated October 3, 2022, Ms. Sparks received an annual salary of $250,000 and is entitled to receive a transaction bonus in the amount of $50,000 upon the Closing. The agreement provides for customary confidentiality and inventions assignment provisions, a non-competition covenant for one year following the termination of her employment, and an agreement to resolve disputes by arbitration. Ms. Sparks terminated her employment as of October 4, 2024.

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401(k)Plan

Longevity implemented a qualified 401(k) savings plan effective January 1, 2023 that will provide eligible employees with an opportunity to save for retirement on a tax advantaged basis.

Executive Compensation Arrangements — Post-Closing

Following the Closing, Longevity intends to develop an executive compensation program that is designed to align compensation with Longevity’s business