Company: MYSEW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044159
Chunk: 102

Company: Myseum, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 102
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 eligible investors would have received. As a result, the Company made outreach to these investors to provide them with an opportunity
to claim their reward payments, and distributions began in January 2025. The maximum estimated total potential distribution under this
program is expected to be approximately $86,246. However, the actual distribution amount may be lower if less than all contacted shareholders
claim their reward payments. The claim of reward payments has no expiration date. Such claim shall be recorded as settlement expense which
is included in general and administrative expenses on the accompanying unaudited statement of operation and comprehensive loss. During
the three months ended March 31, 2025, the Company recorded settlement expense of $9,817 and paid settlement expenses of $19,257. As of
March 31, 2025 and December 31, 2024, the Company’s accrued balance of such claim was $66,988 and $76,428, respectively, which is
included in accounts payable and accrued expenses on the accompanying unaudited consolidated balance sheets. 

NOTE 10 – SUBSEQUENT EVENTS

Chief Executive Officer of RPM Interactive

On April 8, 2025, RPM Interactive entered into
an employment agreement (the “Matthews Employment Agreement”) with Michael Mathews to serve as the Chief Executive Officer
of RPM Interactive, effective upon the closing of RPM Interactive’s initial public offering. Pursuant to the Matthews Employment
Agreement, Mr. Mathews shall receive an annual base salary of $300,000 and a New York housing allowance of $7,000 per month. Mr. Matthews
may be eligible for an annual discretionary bonus in an amount to be determined by the Board of Directors of RPM Interactive (the “RPM
Board”), based on criteria established from time to time by the RPM Board or the Compensation Committee, including the achievement
of financial and operational targets, including EBITDA thresholds and other criteria. The Matthews Employment Agreement provides for a
one-year initial term and shall automatically renew for additional one-year periods unless either party provides at least thirty (30)
days’ written notice of non-renewal prior to the expiration of the then-current term.

In the event Mr. Mathews’ employment is
terminated by RPM Interactive without Cause (as defined in the Employment Agreement), by Mr. Mathews for Good Reason (as defined therein),
or due to death or Total Disability, he shall be entitled to receive: (i) any accrued but unpaid compensation and vacation pay; (ii)