Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 111

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 111
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 In accordance with our Bylaws and Delaware law, our board of directors will oversee the management of the business
and affairs of the Company. Our Directors will be elected by our stockholders at our annual stockholders meeting for three-year terms
and to serve until their successors are duly elected and qualified or until their earlier death, resignation, or removal. Stockholders
will not be entitled to cumulative voting in the election of our directors. Our board of directors is classified, meaning the directors are divided into three classes
each consisting of as close to 1/3 of the total Directors as possible.

Our
directors are divided among the three classes as follows:

    ●
    the
    Class I director is Paul Vassilakos, and his term expires at the 2026 annual meeting of stockholders;

    ●
    the
    Class II directors are Frank Jennings and Kevin O’Donnell, and their terms will expire at 2027 annual meeting; and

    ●
    the
                                                         Class III directors are Louis Foreman and Mary Ann Halford, and their terms will expire at the 2025 annual meeting of
                                                         stockholders.

At
each annual meeting of the stockholders, one class of Directors will be up for election. Directors will serve three-year terms.

45

Director
Independence

Nasdaq
listing standards require that a majority of the Company’s board of directors be independent. An “independent director”
is defined generally as a person other than an officer or employee of the Company or its subsidiaries or any other individual having
a relationship that, in the opinion of the Company’s board of directors, would interfere with the director’s exercise of
independent judgment in carrying out the responsibilities of a director. The board of directors has determined that Frank Jennings, Louis Foreman, and Mary Ann
Halford qualify as independent directors in accordance with the Nasdaq listing rules.

Board
Leadership Structure

Our
board of directors is not expected to have a formal policy regarding the combination of the roles of Chairman of the board of directors
and Chief Executive Officer because the board of directors believes that it is in the best interests of the Company to have the flexibility
to determine, from time to time, whether the positions should be held by the same person or by separate persons. The board of directors
believes that it is currently in the best interest of our stockholders that the role of Chairman be held by Paul Vassilakos.

The
board of directors may