Company: BOF
Filing Date: 2025-11-14
Form Type: DEF 14A
Source: 0001493152-25-023449
Chunk: 12

Company: BranchOut Food Inc.
Filing Date: 2025-11-14
Form: DEF 14A
Chunk 12
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 and Chairman of our board of directors in consideration for an annualized salary of $250,000, which commenced upon the completion of the Company’s initial public offering in June 2023, payable in regular installments in accordance with the usual payment practices of the Company. The employment agreement calls for an annual bonus, as determined by the board of directors and possible additional bonuses for services and results achieved by Mr. Healy. Furthermore, the employment agreement required the Company to pay a bonus to Mr. Healy of $100,000 upon the completion of our initial public offering in 2023.

Pursuant to Mr. Healy’s employment agreement, in the event he is involuntarily terminated by the Company other than for “Cause” or if he resigns for “Good Reason,” he is entitled to receive, subject to certain conditions, (x) an amount equal to the remaining unpaid amounts under the employment term (three years from the date of the agreement), plus an additional 12 months of his then current base salary, each payable on the date of termination; (y) an amount equal to the target bonus for the year of termination of employment, payable within five days following the date of termination; and (z) continued medical and dental coverage. “Cause” and “Good Reason” are each defined in the employment agreement.

Finally, Mr. Healy agreed to certain non-solicitation, non-disparagement and non-competition provisions for a period of 24 months following termination and to certain confidentiality obligations. Additional terms and conditions are set forth in the employment agreement.

We entered into a consulting agreement with our Chief Financial Officer dated April 12, 2022, as amended on January 10, 2024. Pursuant to such agreement, Mr. Dalfonsi agreed to serve as Chief Financial Officer until December 31, 2025 in consideration of monthly payments of $12,500.

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Outstanding Equity Awards at Fiscal Year End

The following table sets forth information with respect to unexercised stock options, stock that has not vested, and equity incentive plan awards held by our Named Executive Officers at December 31, 2024.

| Outstanding                            
 Option Awards at Fiscal Year-End       
 Name                                   |     | Number                                                       
 of Securities Underlying Unexercised Options (#) Exercisable |         |    |     | Number                                                         
 of Securities Underlying Unexercised Options (#) Unexercisable |   |     | Option         
 Exercise Price