Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 506

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 506
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nell’s resignation from these positions, on March 17, 2024, the Company and Kevin O’Donnell
entered into a General Release and Severance Agreement (the “O’Donnell Severance Agreement”), effective as of March
17, 2024 (the “O’Donnell Effective Date”). The O’Donnell Severance Agreement terminated of the amended and restated
employment agreement, by and between the Company and Mr. O’Donnell, effective as of October 21, 2022 (the “O’Donnell
Employment Agreement”). Pursuant to the O’Donnell Severance Agreement, as of the O’Donnell Effective Date, the O’Donnell
Employment Agreement shall terminate forever, and no party shall have any further obligation or liability thereunder except as related
to any obligations that survive employment termination, including but not limited to the obligations set forth under the Employee Confidential
Disclosure, Invention Assignment, Non-Competition, Non-Solicitation and Non-Interference Agreement, attached to the O’Donnell Employment
Agreement.

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.