Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 260

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 260
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 as the Executive Chairman of the Board of Directors from October 15, 2021 to March 17, 2024. Mr. O’Donnell’s was not paid any salary or fees for the year ended December 31, 2024.

50

Overview

The
Company expects to provide total compensation packages that are competitive, tailored to the unique characteristics and needs of the
Company within its industry, and adequately reward its executives for their roles in creating value for our stockholders. The Company
expects that it will be competitive in its executive compensation with other similarly situated companies in its industry. The compensation
decisions regarding the Company’s executives are expected to be based on its need to attract individuals with the skills necessary
to achieve its business plan, to reward those individuals fairly over time and to retain those individuals who continue to perform at
or above the Company’s expectations.

The
Company’s executive compensation program is expected to consist of three primary components: salary, incentive bonus and stock-based
awards issued under an equity incentive plan. The Company determines the appropriate level for each compensation component based in part,
but not exclusively, on its view of internal equity and consistency, individual performance, the Company’s performance, and other
information deemed relevant and timely.

Employment
Agreements

Paul
Vassilakos Employment Agreement

In connection with Mr. Vassilakos’ appointment as the Executive Chairman
and Chief Executive Officer of the Company, on March 17, 2024, the Company and Mr. Vassilakos entered into an Employment Agreement (the
“Vassilakos Employment Agreement”), which supersedes and replaces the Employment Agreement dated October 16, 2022, by and
between Mr. Vassilakos, the Company and Forever 8. The Vassilakos Employment Agreement provides for an initial term of two years, unless
earlier terminated in accordance therein, and automatic renewals for successive one (1) year terms unless either party provides timely
written notice otherwise.

Pursuant to the terms of the Vassilakos Employment Agreement, Mr. Vassilakos
will be entitled to a base salary payable at the annualized rate of $300,000 per year (the “Vassilakos Base Salary”). Mr.
Vassilakos is eligible for an annual cash bonus opportunity equal to up to 75% of the Vassilakos Base Salary and awards of restricted
stock units up