Company: MYSEW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004290
Chunk: 252

Company: Myseum, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 252
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 STATEMENTS

DECEMBER 31, 2024 and 2023

Employment Agreement

On August 27, 2021 (the “Effective Date”),
the Company entered into an agreement (the “Employment Agreement”) with Darin Myman effective as of August 15, 2021 pursuant
to which Mr. Myman’s (i) base salary will increase to $450,000 per year, and (ii) Mr. Myman may be entitled to receive an annual
bonus in an amount up to $350,000, which annual bonus may be increased by the Compensation Committee of the Board of Directors of the
Company (the “Compensation Committee”), in its sole discretion, upon the achievement of additional criteria established by
the Compensation Committee from time to time (the “Annual Bonus”).  The Employment Agreement provides for a term of one
(1) year (the “Initial Term”) from the date of the Effective Date and shall automatically be extended for additional
terms of one (1) year each (each a “Renewal Term”) unless either party gives prior written notice of non-renewal to
the other party no later than six (6) months prior to the expiration of the Initial Term, or the then current Renewal Term, as the case
may be. In addition, pursuant to the Employment Agreement, upon termination of Mr. Myman’s employment for death or Total Disability
(as defined in the Employment Agreement), in addition to any accrued but unpaid compensation and vacation pay through the date of his
termination and any other benefits accrued to him under any Benefit Plans (as defined in the Employment Agreement) outstanding at such
time and the reimbursement of documented, unreimbursed expenses incurred prior to such termination date (collectively, the “Payments”),
Mr. Myman shall be entitled to the following severance benefits: (i) 24 months of his then base salary; (ii) if Mr. Myman elects continuation
coverage for group health coverage pursuant to COBRA Rights (as defined in the Employment Agreement), then for a period of 24 months following
Mr. Myman’s termination he will be obligated to pay only the portion of the full COBRA Rights cost of the coverage equal to an active
employee’s share of premiums (if any) for coverage for the respective plan year; and (iii) payment on a pro-rated basis of any Annual
Bonus or other payments earned in connection with any bonus plan to which Mr