Company: VYND
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001079973-25-000452
Chunk: 3

Company: Vynleads, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 9B
Chunk 3
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 Officer

    2024

    130,000

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    130,000

Employment Agreements or Arrangements

Alex J. Mannine. Mr. Mannine’s
compensation has historically been determined by the board of directors of which he is a member. In June 2018, we entered into an employment
agreement with Mr. Mannine pursuant to which he was engaged to serve as our Chief Executive Officer. The initial term of the agreement
expires in June 2023, subject to successive automatic one-year renewals unless a non-renewal notice is received by either party at least
90 days prior to the expiration of the then current renewal term. Mr. Mannine’s compensation includes:

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    an annual base salary of $130,000, subject to an annual review with an increase of at least 5% per annum as determined by the board of directors;

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    an annual bonus as determined by the board of directors;

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    a grant of 10-year options to purchase 100,000 shares of our common stock at an exercise price of $0.225 per share which vest upon the effectiveness of the registration statement;

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    participation in all benefit plans we may offer our employees; and

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    20 paid vacation days annually.

Mr. Mannine's employment agreement may be terminated,
and he is entitled to certain payments upon such termination, as follows:

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    if we should terminate Mr. Mannine’s employment without “cause” or if he should resign for “good reason" or if a “change of control” occurs, we are obligated to pay him a lump-sum severance payment equal to the sum of three months’ base salary, plus one month for every year he was employed and 50% of three years annual bonus (based on the prior year’s compensation);

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    if Mr. Mannine’s employment is terminated as a result of his death or disability, he is entitled to receive his base salary and a pro-rata annual bonus, if any, based on the year during which such termination is effective; or

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    if we should terminate Mr. Mannine for “cause,” or if he voluntarily terminates the agreement, he is entitled to receive his base salary only through the date of termination, and he is not be entitled to any other