Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 69

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 69
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 and 2023 to Eric Healy, our Chief Executive Officer, and John Dalfonsi, our Chief Financial Officer, during 2024 (together,
our “Named Executive Officers”).

    Name and 
    Fiscal  

    Option  

    Financial
    Position 
    Year  
    Salary  
    Bonus  
    Awards  
    Total 

    Eric Healy, 
     2024  
    $255,377  
    $-  
    $120,132(1) 
    $375,509 
  
    Chief Executive Officer and Chairman 
     2023  
    $222,490  
    $100,000  
    $-  
    $322,490 

    John Dalfonsi,(2) 
     2024  
    $150,000  
    $-  
    $64,356(3) 
    $214,356 
  
    Chief Financial Officer 
     2023  
    $-  
    $-  
    $-  
    $- 

(1)
On February 22, 2024, we granted Mr. Healy the option to purchase 140,000 shares of common stock at an exercise price of $1.92
per share. The estimated value using the Black-Scholes Pricing Model, based on a volatility rate of 41% and a call option value of $0.8581,
was $120,132.

(2)
John Dalfonsi, our Chief Financial Officer, was appointed as the Company’s Chief Financial Officer on January 10, 2024.

(3)
On February 22, 2024, we granted Mr. Dalfonsi the option to purchase 75,000 shares of common stock at an exercise price of $1.92
per share. The estimated value using the Black-Scholes Pricing Model, based on a volatility rate of 41% and a call option value of $0.8581,
was $64,356.

42

Employment
Agreements and Incentive Compensation

We
have entered into an employment agreement with our Chief Executive Officer, dated December 6, 2022. Pursuant to such agreement, Mr. Healy
has agreed to serve as Chief Executive Officer and Chairman of our board of directors in consideration for an annualized salary of $250,000,
which commenced upon the completion of