Company: MYSEW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076607
Chunk: 112

Company: Myseum, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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the other party no later than six (6) months prior to the expiration of the Initial Term, or the then current Renewal Term, as the case
may be. In addition, pursuant to the Employment Agreement, upon termination of Mr. Myman’s employment for death or Total Disability
(as defined in the Employment Agreement), in addition to any accrued but unpaid compensation and vacation pay through the date of his
termination and any other benefits accrued to him under any Benefit Plans (as defined in the Employment Agreement) outstanding at such
time and the reimbursement of documented, unreimbursed expenses incurred prior to such termination date (collectively, the “Payments”),
Mr. Myman shall be entitled to the following severance benefits: (i) 24 months of his then base salary; (ii) if Mr. Myman elects continuation
coverage for group health coverage pursuant to COBRA Rights (as defined in the Employment Agreement), then for a period of 24 months following
Mr. Myman’s termination he will be obligated to pay only the portion of the full COBRA Rights cost of the coverage equal to an active
employee’s share of premiums (if any) for coverage for the respective plan year; and (iii) payment on a pro-rated basis of any Annual
Bonus or other payments earned in connection with any bonus plan to which Mr. Myman was a participant as of the date of his termination
(together with the Payments, the “Severance”). Furthermore, pursuant to the Employment Agreement, upon Mr. Myman’s termination
(i) at his option (A) upon 90 days prior written notice to the Company or (B) for Good Reason (as defined in the Employment Agreement),
(ii) termination by the Company without Cause (as defined in the Employment Agreement) or (iii) termination of Mr. Myman’s employment
within 40 days of the consummation of a Change in Control Transaction (as defined in the Employment Agreement), Mr. Myman shall receive
the Severance; provided, however, Mr. Myman shall be entitled to a pro-rated Annual Bonus of at least $200,000. In addition, any equity
grants issued to Mr. Myman shall immediately vest upon termination of Mr. Myman’s employment by him for Good Reason or by the Company
at its option upon 90 days prior written notice to Mr. Myman, without Cause. 

During the six months ended June 30, 2025 and