Company: ORBS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-011052
Chunk: 4

Company: Eightco Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 4
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 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 achieves a positive cash flow based on