Company: VYND
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001079973-25-001679
Chunk: 8

Company: Vynleads, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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, established as part of ...  
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  (c)      On October 20, 2022, the Company executed a note payable to an individual in the amount of $25,000, interest accrues 5% per annum, unsecured, and due date one year after execution, or the date ...  
  (d)      On July 20, 2025, the Company executed a note payable to an individual in the amount of $50,000, interest accrues 5% per annum, unsecured, and due date one year after execution, or the date in ...  

The Company had total accrued interest for related
party and non-related party notes payable of $18,873and $15,568which is included in accounts payable and accrued expenses, as of September
30, 2025 and December 31, 2024, respectively.

6. Commitments
and Contingencies

Employment Agreement

On June 14, 2018, we entered into an employment
agreement with Mr. Mannine pursuant to which he was engaged to serve as our Chief Executive Officer. The initial term of the agreement
expires in June 2023, subject to successive automatic one- year renewals unless a non-renewal notice is received by either party at least
90 days prior to the expiration of the then current renewal term.

Mr. Mannine’s compensation includes:

  an annual base salary of $ 130,000, subject to an annual review with an increase of at least 5% per annum as determined by the board of directors;                                                    
  an annual bonus as determined by the board of directors;                                                                                                                                              
  a grant of 10 -year options to purchase 100,000 shares of our common stock at an exercise price of $ 0.225 per share which vest upon the effectiveness of a registration statement to be filed wi...  
  participation in all benefit plans we may offer our employees; and                                                                                                                                    
  20 paid vacation days annually.                                                                                                                                                                       

Mr. Mannine's employment agreement may be terminated,
and he is entitled to certain payments upon such termination, as follows:

  if we should terminate Mr. Mannine’s employment without “cause” or if he should resign for “good reason" or if a “change of control” occurs, we are obligated to pay him a lump-sum severance