Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 32

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 32
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 Dean S. Skupen 
     2024  
     -  
     -  
     -  
     -  
     -  
     -  
     60,000(3) 
     60,000 
  
    Chief Financial  Officer 
     2023  
     -  
     -  
     -  
     -  
     -  
     -  
     60,000(3) 
     60,000 

    (1)
    Represented
    amounts earned by Mr. Campbell as a consultant to our company. Mr. Campbell became an employee of our company in March 2024.

    (2)
    Mr.
    Stone became our President and Chief Operating Officer on March 28, 2023.

    (3)
    Represents
    amounts earned by Mr. Skupen under his consulting agreement. 

    (4)
    Reflects
    the aggregate fair value computed in accordance with the provisions of the Financial Accounting Standard Board Accounting Standards
    Codification Topic 718, or ASC 718. See Note 2 to our consolidated financial statements for the year ended December 31, 2024 included
    in this report regarding assumptions underlying the valuation of equity awards. These amounts reflect the accounting cost for these
    stock options and do not reflect the actual economic value that may be realized by the named executive officer upon the vesting of
    the stock options, the exercise of the stock options, or the sale of the common stock underlying such stock options.

Employment
Agreement

On
June 19, 2023, we entered into an Employment Agreement dated as of June 19, 2023 (the “Employment Agreement”) with Joel D.
Stone, our President and Chief Operating Officer. Pursuant to the terms of the Employment Agreement, Mr. Stone received or will receive
(i) an annual base salary of $250,000, which amount may be increased upon our reaching certain benchmarks described in the Employment
Agreement, as determined in our sole discretion; (ii) an initial option grant of seven-year options to purchase 2,500,000 shares of our
common stock for a purchase price of $0.50 per share, of which the right to purchase up to 1,250,000 shares will vest in equal installments
over a period of three years and the right to purchase