Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 1448

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 9
Chunk 1448
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reement.

54

Pursuant
to the O’Donnell Severance Agreement, the Company will provide Mr. O’Donnell with (i) back pay wages through the Separation
Date in the amount of $138,000, less all lawful and authorized withholdings and deductions, to be paid as soon as practicable following
the O’Donnell Effective Date and (ii) severance equal to 24 months of Mr. O’Donnell’s base salary, less all lawful
and authorized withholdings and deductions, under the O’Donnell Employment Agreement. Pursuant to the O’Donnell Severance
Agreement, the Company shall also provide Mr. O’Donnell with (i) reimbursement of the premiums associated with the continuation
of Mr. O’Donnell’s health insurance for the period commencing on the Separation Date through and including September 27,
2024, pursuant to applicable law, (ii) reimbursement of expenses in accordance with the Company’s expense reimbursement policy,
and (iii) the full vesting of any earned, outstanding and unvested shares of Common Stock subject to the Plan (as define below). The
O’Donnell Severance Agreement also provides for a mutual waiver and release of any claims in connection with Mr. O’Donnell’s
employment, separation and departure from the Company, and for certain customary covenants regarding confidentiality.

Outstanding
Equity Awards at Fiscal Year-End

None.

Retirement
Benefits

The
Company expects to maintain a tax-qualified defined contribution plan that meets the requirements of Section 401(k) of the Internal Revenue
Code (the “Code”), commonly called a 401(k) plan, for substantially all of its employees. The 401(k) plan will be made available
on the same basis to all employees, including the named executive officers. Each participant in the 401(k) plan will be able to elect
to defer from 0% to 100% of compensation, subject to limitations under the Code and Employee Retirement Income Security Act.

Director
Compensation

The
Company’s board of directors’ compensation program is expected to be designed to provide competitive compensation necessary
to attract and retain high quality non-employee directors and to encourage ownership of Company stock to further align their interests
with those of our stockholders.

The
director annual compensation program is expected to provide the following compensation for independent, non-employee directors following
the Business Combination:

    ●
    A