Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 651

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 5
Chunk 651
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 Board of Directors. Officers are appointed annually by our Board of Directors and each Executive Officer serves at the discretion of our Board of Directors. We do not have any standing committees. Our Board of Directors may in the future determine to pay Directors’ fees and reimburse Directors for expenses related to their activities.

Employment Agreements

Other than as set forth below, we have no formal employment agreements with any of our directors or officers.

At the present time, we are not paying our officers and directors compensation aside from Mr. Giordano. In 2020, as a result of a lack of funds, the Company ceased accruing wages for Mr. Giordano under his employment agreement dated February 2017.   On April 7, 2025, the Company lifted the moratorium on wage accruals and entered into a new Employment Agreement with Mr. Giordano with an effective date of October 1, 2024.  

On April 7, 2025, but effective as of October 1, 2024, the Company and Chris Giordano, our President and Director, executed an Employment Agreement the (“Agreement”). Under the terms of the Agreement, the Company will compensate Chris Giordano for the duties performed by him as the Company’s President and Director by payment of a base salary of $350,000.00, payable in monthly installments, and Chris Giordano’s base salary will never be less than the base salary of the highest paid employee for the duration of the term of this Agreement. Subject to certain conditions as set forth in the Agreement, the Company will employ Chris Giordano for an initial three-year period beginning on October 1, 2024, and ending on September 30, 2027. The initial term shall be automatically renewed for an additional one year term, subject to certain conditions as specified in the Agreement.  Mr. Giordano agreed to two year non-compete and non-solicit restrictive covenants.  If Mr. Giordano is terminated for cause he shall forfeit any rights to severance, which is available to him in the event of termination without cause.  

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Family Relationships

There are no family relationships between any of our directors, executive officers and proposed directors or executive officers. 

Involvement in Certain Legal Proceedings

During the past 10 years, none of our current directors, nominees for directors or current executive officers has been involved in any legal proceeding identified in Item