Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 2699

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9C
Chunk 2699
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 not limited to airfare, rail, taxi, rental cars, parking, tolls, gasoline for business trips, meals, entertainment, hotel, office supplies, mobile phone, internet, hotspot, and postage expenses.

To date, we have not provided retirement benefits or severance or change of control benefits to GJacobs, WJacobs, or NWarrender.

Omnibus Agreement and Amended Omnibus Agreement 

On December 30, 2021, the Company, NWarrender, 95th Holdings, LLC, an affiliate of NWarrender (“Holdings”), GJacobs and WJacobs, entered into an agreement effective as of December 30, 2021 (“Omnibus Agreement”) that, as further described in the sections below, (1) amends certain parts of the Agreement and Plan of Merger by and among the Company, Lifted, GJacobs, WJacobs, Warrender Enterprise Inc. and NWarrender dated February 24, 2020 (the “Merger Agreement”); (2) amends that certain Compensation Agreement between the Company, GJacobs and WJacobs dated as of June 19, 2019 (the “Compensation Agreement”), and that certain Amendment No. 1 to Compensation Agreement between the Company, GJacobs and WJacobs dated as of December 1, 2020 (the “Amendment No. 1”) (together the “Amended Compensation Agreement”); (3) amends those certain Executive Employment Agreements dated February 24, 2020 between the Company and GJacobs, WJacobs and NWarrender, respectively (collectively the “Executive Employment Agreements”); (4) creates quarterly board compensation; and, (5) requires Lifted to purchase a building leased by Lifted from Holdings on or before December 31, 2022, for a fixed purchase price equal to $1,375,000. On February 14, 2022, the Company, NWarrender, GJacobs and WJacobs entered into an agreement effective as of February 14, 2022 (“Amended Omnibus Agreement”) that, as further described in the sections below, amended certain provisions of the Omnibus Agreement.

Status of Agreements

Excepting only as expressly modified or amended pursuant to the Omnibus Agreement, all other terms and conditions of the Merger Agreement, the Amended Compensation Agreement, the Executive Employment Agreements, the Lease, and