Company: NEOV
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007811
Chunk: 20

Company: NeoVolta Inc.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 20
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. If Mr. Johnson’s employment is terminated at our election without “cause” (as defined in the employment agreement),
or by Mr. Johnson for “good reason” (as defined in the employment agreement), Mr. Johnson shall be entitled to receive severance
payments equal to six months of base salary and a prorated amount of the annual bonus for such fiscal year.

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Employment Agreement with Steve Bond

In February 2025, we entered
into an amended and restated employment agreement with Steve Bond pursuant to which Mr. Bond agreed to continue to serve as our Chief
Financial Officer. The amended and restated employment agreement provides for an initial annual salary of $193,000. The initial term of
the amended and restated employment agreement ends on December 31, 2027 and will be automatically renewable for additional one-year terms
unless either party chooses not to renew the agreement. Pursuant to the agreement, we issued Mr. Bond an award of 240,000 RSUs with a
grant date value of $792,000 vesting in four annual installments. In February 2022, we entered into an earlier amended and restated employment
agreement with Mr. Bond, pursuant to which we issued him an RSU award for up to 300,000 shares of our common stock upon achieving two
defined milestones. The first milestone was achieved as of January 1, 2023, and the underlying 250,000 shares of common stock were issued
to Mr. Bond as of that date. The second milestone was achieved as of January 1, 2024, and the underlying 50,000 shares of common stock
are expected to be issued to Mr. Bond at a later date.

Employment Agreement with Michael Mendik

In January 2025, we entered
into an employment agreement with Michael Mendik to serve our new Chief Operating Officer (“COO”). The employment agreement
provides for an initial annual salary of $200,000. The initial term of the employment agreement ends on December 31, 2027 and will be
automatically renewable for additional one-year terms unless either party chooses not to renew the agreement. Pursuant to the agreement,
we issued Mr. Mendik an award of 150,000 RSUs with a grant date value of $781,500 vesting in three annual installments. On October 1,
2025, Mr. Mendik ceased his service as Chief Operating Officer and now serves as our Chief