# EDGAR Filing Document

**Accession Number:** 0001015155
**File Stem:** 0001104659-25-079265
**Filing Date:** 2025-8
**Character Count:** 20213
**Document Hash:** 1ace2bfef94205953332fbecac39880b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-079265.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001104659-25-079265

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250813

**ITEM INFORMATION**: Shareholder Nominations Pursuant to Exchange Act Rule 14a-11

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250815

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CHARLES & COLVARD LTD
- **CENTRAL INDEX KEY:** 0001015155
- **STANDARD INDUSTRIAL CLASSIFICATION:** JEWELRY, SILVERWARE & PLATED WARE [3910]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 561928817
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-23329
- **FILM NUMBER:** 251225000

**BUSINESS ADDRESS:**
- **STREET 1:** 170 SOUTHPORT DRIVE
- **CITY:** MORRISVILLE
- **STATE:** NC
- **ZIP:** 27560
- **BUSINESS PHONE:** 9194680399

**MAIL ADDRESS:**
- **STREET 1:** 170 SOUTHPORT DRIVE
- **CITY:** MORRISVILLE
- **STATE:** NC
- **ZIP:** 27560

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** C3 INC /NC/
- **DATE OF NAME CHANGE:** 19970829

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): **August 13, 2025**

**Charles & Colvard, Ltd.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**North Carolina** | &nbsp;&nbsp;**000-23329** | &nbsp;&nbsp;**56-1928817** |
| &nbsp;&nbsp; (State or other jurisdiction of<br> incorporation) | &nbsp;&nbsp; (Commission File<br> Number) | &nbsp;&nbsp; (I.R.S. Employer<br> Identification No.) |

---

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| | |
|:---|:---|
| &nbsp;&nbsp;**170 Southport Drive** |  |
| &nbsp;&nbsp;**Morrisville**, **North Carolina** | &nbsp;&nbsp;**27560** |
| &nbsp;&nbsp;(Address of principal executive offices) | &nbsp;&nbsp;(Zip Code) |

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**(919) 468-0399**

(Registrant's telephone number, including area code)

**N/A**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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| | |
|:---|:---|
| &nbsp;&nbsp;◻ | &nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| &nbsp;&nbsp;⌧ | &nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| &nbsp;&nbsp;◻ | &nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| &nbsp;&nbsp;◻ | &nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

---

Securities registered pursuant to Section 12(b) of the Act: None.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company&nbsp;&nbsp;&nbsp;&nbsp; ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp;&nbsp;&nbsp; ◻

**Item 5.08. Shareholder Director Nominations.**

The disclosure provided in Item 8.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 5.08.

Pursuant to the Order (as defined in Item 8.01 below), Charles & Colvard, Ltd. (the "Company") will hold its Annual Meeting of the Shareholders for 2025 (the "Annual Meeting") on Monday, October 13, 2025, at 9:30 a.m. ET. Consistent with the Order, the Board of Directors established the close of business on Friday, August 29, 2025, as the record date for the determination of shareholders who are entitled to notice of, and to vote at, the Annual Meeting. The Annual Meeting will be held at the Company's principal office, 170 Southport Drive, Morrisville, North Carolina, 27560. The Company will provide additional details regarding the Annual Meeting in the Company's proxy statement for the Annual Meeting to be filed with the Securities and Exchange Commission (the "SEC") prior to the Annual Meeting.

Due to the fact that the date of the Annual Meeting has been changed by more than 30 days from the anniversary of the previously held annual meeting of shareholders, shareholders of the Company who wish to have a proposal or a director nominee considered for inclusion in the Company's proxy materials for the Annual Meeting pursuant to Rule 14a-8 under the Securities Exchange Act of 1934 (the "Exchange Act"), would have to ensure such proposal is received by the Company's Corporate Secretary at its corporate office at 170 Southport Drive, Morrisville, North Carolina, 27560, on or before the close of business on Monday, August 25, 2025, to allow the Company reasonable time before it expects to begin to print and send its proxy materials in accordance with Rule 14a-5(f) and Rule 14a-8(e) under the Exchange Act. Any such proposal would also have to meet the requirements set forth in the Company's Bylaws, as amended and restated (the "Bylaws"), and the rules and regulations of the SEC in order to be eligible for inclusion in the proxy materials for the Annual Meeting. However, because the Order limits the matters to be considered at the Annual Meeting to those outlined in Item 8.01 below, the Company cannot accept shareholder proposals for consideration at the Annual Meeting.

In addition, in accordance with the requirements contained in the Company's Bylaws, shareholders of the Company who wish to bring business before the Annual Meeting outside of Rule 14a-8 of the Exchange Act or to nominate a person for election as a director must also ensure that written notice of such proposal (including all information specified in the Company's Bylaws) is received by the Company's Corporate Secretary at the address specified above no later than the close of business on Monday, August 25, 2025. As noted above, because of the terms of the Order, the Company cannot accept shareholder proposals. Any shareholder nominations for director must also meet the requirements set forth in the Company's Bylaws in order to be brought before the Annual Meeting.

In addition, to comply with the universal proxy rules, shareholders who intend to solicit proxies in support of director nominees other than our nominees must provide notice that sets forth the information required by Rule 14a-19 under the Exchange Act by the close of business on Monday, August 25, 2025.

**Item 8.01. Other Events.**

On August 13, 2025, North Carolina Chief Business Court Judge Michael L. Robinson entered an Order, directing the Company to hold its Annual Meeting on Monday October 13, 2025 (the "Order"). Pursuant to the Order, the only matters to be considered and put to a vote of shareholders at the Annual Meeting shall be (a) election of the members of the Company's Board of Directors, the Company's intended nominees being current directors Ruten Bhanderi, Anne M. Butler, Neal Goldman, Don O'Connell and James Tu, (b) ratification of the Company's independent auditor, (c) an advisory vote on executive compensation, and (d) an advisory vote on the frequency of shareholder advisory votes on executive compensation.

According to the Order, for purposes of this Annual Meeting only, the number of shares represented by shareholders who appear at the Annual Meeting, in person or by proxy, will represent a quorum. The Order also states that the deadline for director nominations in connection with the Annual Meeting shall be the close of business on Monday, August 25, 2025. The Company expects that RiverStyx Fund, LP ("RiverStyx"), a shareholder of the Company, will seek the election of one or more candidates to the Board, and will include those candidates in the Company's proxy materials if timely submitted in compliance with the Company's Bylaws and applicable law. Additionally, the Order states that Craig Colosso, an employee of the Company's transfer agent, Equiniti, will serve as inspector of elections. The foregoing description of the Order does not purport to be complete and is qualified in its entirety by the full text of the Order, a copy of which is filed as an exhibit to this Current Report on Form 8-K and incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit** <br> **Number** | **Description** |
| [99.1](tm2523635d1_ex99-1.htm) | [Order on Application for Court-Ordered Shareholder Meeting Pursuant to N.C. Gen. Stat. § 55-7-03 dated August 13, 2025.](tm2523635d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**Important Additional Information**

The Company's definitive proxy materials will include information about the participants in the solicitation of proxies and a description of their direct or indirect interests, by security holdings or otherwise. Shareholders should read the proxy statement when it is available because it contains important information. Shareholders and investors will be able to access the proxy statement and any other relevant filed documents free of charge on the SEC's website at www.sec.gov once such documents have been filed.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **Charles & Colvard, Ltd.** | **Charles & Colvard, Ltd.** |
| August 15, 2025 | By | /s/ Clint J. Pete |
|  |  | Clint J. Pete |
|  |  | Chief Financial Officer |

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## Exhibit 99.1

**Exhibit 99.1**

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| | |
|:---|:---|
| STATE OF NORTH CAROLINA <br>WAKE COUNTY | IN THE GENERAL COURT OF JUSTICE <br> SUPERIOR COURT DIVISION <br> 25CV025268-910 |
| IN RE MATTER OF THE 2025 ANNUAL SHAREHOLDERS' MEETING OF CHARLES & COLVARD LTD. | **ORDER ON APPLICATION FOR COURT-ORDERED SHAREHOLDER MEETING PURSUANT TO N.C. GEN. STAT. § 55-7-03** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **THIS MATTER** is before the Court following the 22 July 2025 filing by Petitioner Riverstyx Fund, LP (Riverstyx) of the *Application for Court-Ordered Shareholder Meeting Pursuant to N.C. Gen. Stat. § 55-7-03* (the Application). (ECF No. 3 [Appl.].)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Respondent Charles & Colvard Ltd. (Charles & Colvard) is a publicly traded corporation organized and existing under the laws of the State of North Carolina, with its principal and registered offices in Wake County, North Carolina. (Appl. ¶ 2.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Riverstyx, a Delaware limited partnership, is a shareholder of Charles & Colvard. (Appl. ¶¶ 1, 6.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. On 22 July 2025, Riverstyx filed the Application pursuant to N.C.G.S. § 55-7-03, applying to this Court for an order requiring Charles & Colvard to hold an annual shareholder meeting. (*See generally* Appl.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. N.C.G.S. § 55-7-01(a) requires corporations to "hold a meeting of shareholders annually at a time stated in or fixed in accordance with the bylaws."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. N.C.G.S. § 55-7-03(a) provides that the Court "may, after notice is given to the corporation, summarily order a meeting to be held . . . [o]n application of any shareholder if an annual meeting of the shareholders was not held within 15 months after the corporation's last annual meeting[.]"

Case No.2025CVS25268 ECF No. 15 Filed 08/13/2025 09:35:17 N.C. Business Court

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7. N.C.G.S. § 55-7-03(b) further provides that the Court may

fix the time and place of the meeting, determine the shares entitled to participate in the meeting, specify a record date for determining shareholders entitled to notice of and to vote at the meeting, prescribe the form and content of the meeting notice, fix the quorum required for specific matters to be considered at the meeting (or direct that the votes represented at the meeting constitute a quorum for action on those matters), enter other orders necessary to accomplish the purpose or purposes of the meeting, and award such reasonable expenses, including attorneys' fees, as it deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Charles & Colvard held its last annual meeting of shareholders on 13 December 2023. (Appl. ¶ 7.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Charles & Colvard has been provided reasonable notice of the Application, and its counsel has appeared before the Court on two occasions to argue its position regarding Riverstyx's request for an order requiring Charles & Colvard to hold an annual shareholder meeting. (*See* ECF Nos. 6, 12.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **THEREFORE**, pursuant to N.C.G.S. § 55-7-03, the Court hereby **GRANTS** the Application in part and **ORDERS** as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Charles & Colvard shall hold a shareholder meeting beginning at 9:30 a.m. Eastern Standard Time on Monday, 13 October 2025 (the 2025 Shareholder Meeting).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The 2025 Shareholder Meeting shall be held at the principal office of Charles & Colvard, the street address for which shall appear on the notice of the meeting, and shareholders shall be permitted to attend and participate by telephone or other electronic means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. By agreement of the parties, the only matters to be considered and put to a vote of shareholders at the 2025 Shareholder Meeting shall be (a) election of the members of Charles & Colvard's Board of Directors, (b) ratification of Charles & Colvard's independent auditor, (c) an advisory vote on executive compensation, and (d) an advisory vote on the frequency of shareholder advisory votes on executive compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Charles & Colvard shall provide written notice, by email and United States Postal Service, of the 2025 Shareholder Meeting to each of the shareholders no less than thirty (30) days prior to the meeting date (the Notice).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Counsel for Charles & Colvard shall file with the Court, and provide by email to counsel for Riverstyx simultaneously with the emailing of the Notice, a copy of the Notice that is actually distributed to the shareholders and shall certify that the Notice has, in fact, been distributed to the shareholders in compliance with this Order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. The deadline for director nominations in connection with the 2025 Shareholder Meeting shall be ten (10) days after public announcement of the meeting date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. The record date for the 2025 Shareholder Meeting shall be 29 August 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. The number of shares represented by shareholders who appear at the 2025 Shareholder Meeting, in person or by proxy, will represent a quorum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. An individual serving as an observer shall attend the 2025 Shareholder Meeting, at the expense of Charles & Colvard, to provide services as set forth in this section. The observer for the 2025 Shareholder Meeting shall be Craig Colosso with Equiniti, as agreed to by the parties (the Observer). The Observer shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Ascertain the number of shares outstanding and the voting power of each;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Determine the shares represented at the 2025 Shareholder Meeting and the validity of proxies and ballots;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Count all votes and ballots;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Determine and retain for a reasonable period a record of the disposition of any challenges made to any determination by the Observer;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. Certify in writing the determination of the number of shares represented at the meeting and the Observer's count of all votes
and ballots.

Further, the Observer may appoint or retain other persons or entities to assist with the performance of the Observer's duties. The expense of any such additional individuals, if any, shall be borne by Charles & Colvard.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. The Court retains jurisdiction to hear and determine any issues raised by the parties related to the Observer's actions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. All other proceedings in this action are hereby **STAYED** pending completion of the 2025 Shareholder Meeting; provided, however, that (a) any party may seek appropriate relief from the Court in the event of a breach of the terms of this Order; and (b) any party may petition the Court to enter other orders necessary to accomplish the purposes of the meeting and to award such reasonable expenses, including attorneys' fees, as the Court deems appropriate pursuant to N.C.G.S. § 55-7-03(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. Notwithstanding the terms of this Order, either party may, upon a showing of good cause, seek a modification of this Order by filing a motion with a supporting brief in compliance with Business Court Rule 7.

**SO ORDERED**, this the 13th day of August, 2025.

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| |
|:---|
| /s/ Michael L. Robinson |
| Michael L. Robinson |
| Chief Business Court Judge |

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