Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 622

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 5
Chunk 622
---
 there are no reportable events except for the following:

On
January 13, 2025 (“CSDO Termination Date”), the Company terminated the employment agreement with the Chief Strategy and Development
Officer (“CSDO”) with an effective date of January 15, 2025. Based on the delays in the estimated milestone requirements
for the development of the Company’s Data Center, it was determined that CSDO role was not required. As of the CSDO Termination
Date, the CSDO non-qualified stock option agreement for 1,000,000 shares of the Company’s common stock was cancelled. Of the options
shares of 1,000,000, the CSDO had vested 168,750 options shares, which are exercisable until the third anniversary date of the CSDO
Termination Date.

On
January 14, 2025 (“VPDCD Termination Date”), the Company terminated the employment agreement with the Vice President of Data
Center Development (“VPCSD”) with an effective date of February 15, 2025. Based on the delays in the estimated milestone
requirements for the development of the Company’s Data Center, it was determined that VPDCD role was not required. As of the VPDCD
Termination Date, the VPDCD non-qualified stock option agreement for 350,000 shares of the Company’s common stock was cancelled.
Of the options shares of 350,000, the CSDO had vested 43,750 options shares, which are exercisable until the third anniversary date
of the CSDO Termination Date.

On
January 15, 2025, the Company issued, to a consultant, a Non-Qualified Stock Option Agreement for the purchase of 350,000 shares of the
Company’s common stock for an exercise price of $1.99, which was the fair value of the Company’s common stock on the grant
date. The 350,000 options vest as follows:

●Become
                                            exercisable as to 43,750 Option Shares on January 16, 2026 and shall vest and become exercisable
                                            as to an additional 43,750 shares on each of January 16, 2027, January 16, 2028, and January
                                            16, 2029 provided that the optionee is a consultant, an employee or a Board member in good
                                            standing with the Company on such applicable vesting