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CONTRACTS AND AGREEMENTS | 9 Months Ended
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Sep. 30, 2025
CONTRACTS AND AGREEMENTS |
CONTRACTS AND AGREEMENTS | NOTE 12. CONTRACTS AND AGREEMENTS Employment Agreement – Chief Financial Officer On May 30, 2025, the Board of Directors of the Company appointed Mr. David Vanston as the Company’s Chief Financial Officer, effective immediately. The appointment was made following the expiration of Mr. Nick Jennings’s offer letter to serve as the Interim Chief Financial Officer, as previously disclosed by the Company. In connection with his appointment, the Company entered into an offer letter with Mr. Vanston providing for an annual base salary of $230,000 and eligibility to receive an annual discretionary bonus of up to 40% of his base salary. Mr. Vanston is also entitled to receive an initial grant of 100,000 restricted stock units and an additional grant of 100,000 restricted stock units following one year of employment, each subject to a three-year vesting schedule. Director Compensation The annual fee to the non-employees of our Board was $48,000, to be paid in cash on a quarterly basis, with the exception of the audit committee chairperson, whose annual fee was $54,600, also to be paid in cash on a quarterly basis. Non-employee Director compensation also includes the annual issuance of our Common Stock. During October 2025, the Company revised its director compensation (Refer to Note 19 – Subsequent events).

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