Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 501

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 501
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ilakos 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) as of the Effective Date of the separation, on which such date Mr. McFadden shall be granted, in lieu of cash, 128,811 fully-vested
restricted shares of the Common Stock at a price of $0.82 per share, which such shares of Common Stock subject to the terms and conditions
of the Company’s 2022 Long-Term Incentive Plan (the “Plan”), and as of each of (ii) April 1, 2024, (iii) July 1, 2024,
and (iv) October 1, 2024, payable at the Company’s option