Company: VYND
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001079973-25-000779
Chunk: 9

Company: Vynleads, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 9
---
 an increase of at least 5% per annum as determined by the board of directors;

    ·
    an annual bonus as determined by the board of directors;

    ·
    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 a registration statement to be filed with the Securities and Exchange Commission;

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

    ·
    20 paid vacation days annually.

    11 
    VYNLEADS, INC.NOTES TO CONDENSED FINANCIAL STATEMENTSMarch 31, 2025(UNAUDITED) 

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

    ·   
    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);

    ·
    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

    ·
    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 compensation for the calendar year during which the termination occurs or any subsequent calendar period, including, but not limited to, any annual bonus, if any, that has not already been paid.

The employment agreement with Mr. Mannine contains
customary confidentiality, non-compete and indemnification clauses.

On September 21, 2020, Mr. Mannine voluntarily agreed
to cancel the employment agreement and waive all cash due and any related accruals. During the three months ended March 31, 2025 and 2024,
$32,500 and $32,500, respectively, is recorded as in-kind contribution of service provided by Mr. Mannine (See Notes 4 and 8).

Commit