Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 120

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 120
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 event the Company terminates Mr. Vassilakos’ employment without
cause (as defined in the Vassilakos Employment Agreement), Mr. Vassilakos will receive (i) the Accrued Obligations (as defined in the
Vassilakos Employment Agreement) and (ii) severance in the amount of equal to the Vassilakos Base Salary for twelve (12) months, less
applicable payroll deductions and tax withholdings. In addition, this termination will cause the vesting of all equity awards subject
to the terms of the Incentive Plan held by Mr. Vassilakos and entitle Mr. Vassilakos to reimbursement of premiums associated with the
continuation of health insurance benefits provided under the Vassilakos Employment Agreement during the remaining Term of Employment (as
defined in the Vassilakos Employment Agreement).

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

Brian
McFadden Employment Agreement

Brian
McFadden was previously employed as the Chief Executive Officer of the Company.

51

On
February 26, 2024, the Company and Mr. McFadden entered into General Release and Severance Agreement (the “McFadden Severance
Agreement”), effective as of the eighth day following the McFadden Severance Agreement in connection with Mr. McFadden’s
resignation as Chief Executive Officer of the Company, effective as of December 31, 2023. Pursuant to the McFadden Severance Agreement,
Mr. McFadden was eligible to receive $146,683 in accrued but unpaid base salary through the separation date in four quarterly payments
of $36,670.75 each, less all applicable tax withholdings, by December 31, 2024.

In
consideration of the McFadden Severance Agreement, the release therein and Mr. McFadden’s resignation as Chief Executive Officer
of the Company, the Company agreed to provide Mr. McFadden severance pay in the gross amount of amount of $422,500, less all lawful and authorized
withholdings and deductions (the “Severance Payment”), which Severance Payment was to be paid in four quarterly installments
of $105,625 per each installment, payable at the Company’s option in either cash or Common Stock, with the payment to be made as
follows: (i