Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 620

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 620
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 of restricted
stock units up to 100% of the Vassilakos Base Salary, subject to the terms and conditions of the Incentive Plan and the Company’s
form of restricted stock unit agreement (the “Vassilakos Bonus”), based on certain milestones to be determined in the sole
and absolute discretion of the Board. Mr. Vassilakos may also be eligible for additional compensation in the sole and complete discretion
of the Board or the Compensation Committee of the Board.

In the 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. McF