Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 27

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 27
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, 2021 $5,740.75 January 1, 2022 – December 31, 2022 $5,855.57 January 1, 2023 – December 31, 2023 $5,972.68 January 1, 2024 – December 31, 2024 $6,092.13 January 1, 2025 – December 31, 2025 $6,213.97 

On December 30, 2021, LIFD, NWarrender, Holdings, GJacobs, and WJacobs entered into an agreement effective as of December 30, 2021 (“Omnibus Agreement”) that, among other things described in the section “Omnibus Agreement and Amended Omnibus Agreement” in ITEM 11. EXECUTIVE COMPENSATION, required Lifted to purchase the 5511 Building from Holdings on or before December 31, 2022, for a fixed purchase price equal to $1,375,000. Pursuant to the terms of the Acceleration Agreement, the purchase date of the Premises was delayed until on or before December 31, 2023. Lifted purchased the 5511 Building from Holdings on December 14, 2023. 

Repayment of Lifted Merger Related Promissory Note

Reference is hereby made to the disclosures above in the following section, which are hereby incorporated by reference thereto: 

 120Table of Contents

ITEM 1. BUSINESS 

Description of Certain Key Provisions of the Transaction Documents Relating to the Lifted 

Merger Agreement 

Repayment of Lifted Merger Related Promissory Note

Indemnification of Officers and Directors

Our bylaws specifically limit the liability of our officers and directors to the fullest extent permitted by law. As a result, aggrieved parties may have a more limited right to action than they would have had if such provisions were not present. The bylaws also provide for indemnification of our officers and directors for any losses or liabilities they may incur as a result of the manner in which they operated our business or conducted internal affairs, provided that in connection with these activities they acted in good faith and in a manner which they reasonably believed to be in, or not opposed to, our best interest. In the ordinary course of business, we also may provide indemnifications of varying scope and terms to customers, vendors, lessors, business