NextPlat Corp
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
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ITEM 5. OTHER INFORMATION
On* August 11, 2024,the Company entered into a new employment agreement with David Phipps, the Company's President and Chief Executive Officer of Global Operations. The employment agreement has an initial term ofthree* year and thereafter automatically renews for additional terms ofone year each. Pursuant to the new employment agreement, Mr. Phipps's annual base salary is set at*$350,000* per year and Mr. Phipps is entitled to receive an automobile allowance of*$1,000* per month, a monthly bonus payment of*$3,000,* which is renewable on a quarterly basis until terminated by the Board, and an annual cash bonus if the Company exceeds criteria adopted by the Compensation Committee of the Board.
Rule10b5*-1 Trading Arrangement*
During thethree months ended* June 30, 2024*,no director or officer of the Company adopted or terminated any “Rule10b5-1 trading arrangement” or “non-Rule10b5-1 trading arrangement,” as each term is defined in Item408(a) of Regulation S-K.
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