Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 263

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 263
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 amend Mr. McFadden’s end date of
service on the Board to March 17, 2024.

A
copy of the complete McFadden Severance Agreement is included as an exhibit to this Annual Report.

Brett
Vroman Employment Agreement

Pursuant
to the terms of the Vroman Employment Agreement, Mr. Vroman is employed as the Chief Financial Officer of the Company. Mr.
Vroman’s employment under the Vroman Employment Agreement was to last until September 27, 2024, unless earlier terminated
pursuant to the terms of the agreement.

Pursuant
to the terms of Mr. Vroman’s employment agreement, Mr. Vroman was to receive, subject to approval by the Board, an annual grant of
180,000 restricted stock units convertible into shares of the Company’s common stock, which shall be immediately vested and subject
to the terms and conditions of the Company’s 2022 Long-Term Incentive Plan. This reflects an increase from the 135,000 shares provided
to Mr. Vroman under the March Vroman Agreement. Mr. Vroman will be entitled to a base salary payable at the annualized rate of $292,000
per year (the “Vroman Base Salary”), which reflects an increase from the $250,000 provided to Mr. Vroman under the March
Vroman Agreement. Mr. Vroman is eligible for an annual cash bonus opportunity equal to 100% of the Vroman Base Salary (the “Vroman
Bonus”) based on the achievement of performance goals as determined by the Company’s audit committee and the Board. The Vroman
Bonus reflects a decrease on a percentage basis from the maximum 150% of base salary provided for in the March Vroman Agreement.

In
addition, Mr. Vroman shall under some circumstances be entitled to receive additional shares of the Company’s common stock contingent
upon the satisfaction of certain additional performance goals. Mr. Vroman shall be entitled to receive a maximum total of 990,000 shares
upon full satisfaction of certain corporate growth achievements based upon a review of the Company’s audited financial statements
and subject to the approval of the Board. This reflects an increase over the March Vroman Agreement, which provided that Mr. Vroman would
be eligible to receive a maximum of 450,000 shares in connection with revenue growth. Mr. Vroman shall be eligible to receive a one-time
bonus of 180,000 shares in the event that the Company