Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 382

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 382
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1, 2024, payable at the Company’s option, in either cash or Common Stock. The shares of Common Stock to be issued
to Mr. McFadden under installments (ii), (iii) and (iv), if applicable, shall be fully vested and the number of shares to be issued shall
be determined based on the volume weighted average trading price of the Common Stock on the principal exchange on which the Common Stock
is listed or admitted to trade during the period of 10 trading days immediately prior to the date of such issuance.

52

Pursuant
to the McFadden Severance Agreement, the Company also agreed to reimburse to Mr. McFadden the premiums associated with the
continuation of Mr. McFadden’s health insurance for the period commencing on the Separation Date through December 31, 2024,
pursuant to applicable law, and approved but unpaid business expenses through the Separation Date within 30 days following the
Effective Date of the separation.

Pursuant
to the terms of the McFadden Severance Agreement, Mr. McFadden was to remain a director of the Company’s board from the
Separation Date through March 2024, at which time Mr. McFadden would resign from the Board. On March 17, 2024, the Board approved
the entry by the Company into the First Amendment to the McFadden Severance Agreement to amend Mr. McFadden’s end date of
service on the Board to March 17, 2024.

A
copy of the complete McFadden Severance Agreement is included as an exhibit to this Annual Report.

Brett
Vroman Employment Agreement

Pursuant
to the terms of the Vroman Employment Agreement, Mr. Vroman is employed as the Chief Financial Officer of the Company. Mr.
Vroman’s employment under the Vroman Employment Agreement was to last until September 27, 2024, unless earlier terminated
pursuant to the terms of the agreement.

Pursuant
to the terms of Mr. Vroman’s employment agreement, Mr. Vroman was to receive, subject to approval by the Board, an annual grant of
180,000 restricted stock units convertible into shares of the Company’s common stock, which shall be immediately vested and subject
to the terms and conditions of the Company’s 2022 Long-Term Incentive Plan. This reflects an increase from the 135,000 shares provided
to Mr. V