Company: XXII
Filing Date: 2025-04-30
Form Type: 10-K/A
Source: 0001641172-25-006806
Chunk: 14

Company: 22nd Century Group, Inc.
Filing Date: 2025-04-30
Form: 10-K/A
Chunk 14
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 Company’s overall compensation philosophy.

| 9 |

Base Salary

Base salaries are set at levels that the Compensation Committee deems to be sufficient to attract and retain highly talented executive officers capable of fulfilling the Company’s key objectives. Base salaries are also set with the goal of rewarding executive officers on a day−to−day basis for their time and services while encouraging them to strive for performance−based and long−term incentives.

The table below shows the base salary established by the Compensation Committee for each of our named executive officers for 2024 and 2025, and the percentage change compared to the prior fiscal year. Salary adjustments typically do not coincide with the beginning of the fiscal year, so the amounts shown below may differ from those shown in the 2024 Summary Compensation Table.

| Name                                         
 Lawrence D. Firestone (1)                    |     | 2024 Base Salary |         |     | Percent Change vs. 
 2023 Base Salary   |     |   |     | 2025 Base Salary |         |     | Percent Change vs. 
 2024 Base Salary   |   |   |
|:---------------------------------------------|:----|:-----------------|--------:|:----|:-------------------|----:|:--|:----|:-----------------|--------:|:----|:-------------------|--:|:--|
| Chief Executive Officer                      |     | $                | 425,000 |     |                    |   0 | % |     | $                | 425,000 |     |                    | 0 | % |
| Daniel A. Otto (2)                           |     |                  |         |     |                    |     |   |     |                  |         |     |                    |   |   |
| Chief Financial Officer                      |     | $                | 315,000 |     |                    |  31 | % |     | $                | 315,000 |     |                    | 0 | % |
| Jonathan Staffeldt (2)                       |     |                  |         |     |                    |     |   |     |                  |         |     |                    |   |   |
| General Counsel                              |     | $                | 315,000 |     |                    |  29 | % |     | $                | 315,000 |     |                    | 0 | % |
| Robert Manfredonia (3)                       |     |                  |         |     |                    |     |   |