GLOBAL TECHNOLOGIES LTD
For the period ended Jun 30, 2025. Filed Dec 30, 2025.
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FY2025 · Filed Dec 30, 2025
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Item 11. Executive Compensation
Summary Compensation Table
The following table sets forth with respect to the named executive officer, compensation made for the twelve months ended June 30, 2025 and 2024:
| Name and Principal Position · Year · Salary- Paid or accrued ($) · Bonus ($) · Stock Awards ($) · Option Awards ($) · Non-Equity Incentive Plan Compensation ($) · Change in Pension Value & Non- Qualified Deferred Compensation Earnings ($) · All Other Compensation ($) · Total ($) | ||
|---|---|---|
| (a) · (b) · (c)(3) · (d) · (e) | ||
| H. Wyatt Flippen, Chief Executive Officer, Chairman of the Board (1) | 2025 | $125,000 |
| Fredirick Cutcher, President 10 Fold, Board Member (2)(3) | 2025 | $0 |
| (1) | On November 22, 2024, the Company entered into an Executive Employment Agreement (the “Agreement”) with Mr. Flippen for his role as the Company’s Chief Executive Officer. Under the terms of the Agreement, Mr. Flippen is to receive a base salary of $8,500 per month and $125,000 worth of Series N Preferred Stock. The Agreement has a term of one year and shall renew for successive one year terms, unless either party terminates the Agreement. |
| (2) | On November 22, 2024, Mr. Cutcher resigned as President and Chief Executive Officer of the Company. The Company retained his services as President of its subsidiary, 10 Fold Services, LLC, and he continues to serve as a member of the Company’s Board of Directors. |
| (3) | On May 17, 2023, the Company entered into an Employment Agreement (the “Agreement”) with Mr. Cutcher for his role as the Company’s Chief Executive Officer. Under the terms of the Agreement, Mr. Cutcher is to receive a base salary of $100,000 and $100,000 in Restricted Stock Units that vest at the end of the initial term of the Agreement. The Agreement has a term of one year and shall renew for successive one-year terms unless either party terminates the Agreement. The Agreement was effective as of May 17, 2023. |
Directors’ Compensation
The following table sets forth with respect to the named director, compensation information inclusive of equity awards and payments made for the years ended June 30, 2025 and 2024:
| Name | Year | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Option Awards ($) | Non-Equity Incentive Plan Compensation ($) | Nonqualified Deferred Compensation Earnings ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|---|---|---|
| (b) · (c) · (d) · (e) · (f) · (g) · (h) | ||||||||
| H. Wyatt Flippen (2025) (1) | 2025 | $59,500 | ||||||
| Fredrick Cutcher (2025)(2) | 2025 | $171,811 | - | - | - | - | - | - |
| (2024) | 2024 | $100,000 | - | - | - | - | - | - |
| (1) | Mr. Flippen was appointed to the Company’s Board of Directors on November 22, 2024 and later was appointed the Company’s Chairman of the Board on May 19, 2025. For the periods presented, Mr. Flippen had not entered into a Board of Directors Service Agreement. |
| (2) | Mr. Cutcher was appointed to the Company’s Board of Directors on May 17, 2023. On November 22, 2024 Mr. Cutcher resigned. Mr. Cutcher remained as a Board Member and the President of 10 Fold Services, LLC. For the periods presented, Mr. Cutcher had not entered into a Board of Directors Service Agreement. |
Director Independence
The Company has two directors, H. Wyatt Flippen and Fredrick Cutcher, who are employees of the Company. An “independent director” is defined generally as a person other than an officer or employee of the Company or its subsidiaries or any other individual having a relationship that, in the opinion of the Company’s board of directors, would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. At present, the Company does not have an independent director, but intends on appointing new directors that are deemed independent during the current fiscal year.
Employment Agreements
On November 22, 2024, the Company entered into an Executive Employment Agreement (the “Agreement”) with Mr. Flippen for his role as the Company’s Chief Executive Officer. Under the terms of the Agreement, Mr. Flippen is to receive a base salary of $8,500 per month and $125,000 worth of Series N Preferred Stock. The Agreement has a term of one year and shall renew for successive one year terms, unless either party terminates the Agreement.
On May 17, 2023, the Company entered into an Employment Agreement (the “Agreement”) with Mr. Cutcher for his role as the Company’s Chief Executive Officer. Under the terms of the Agreement, Mr. Cutcher is to receive a base salary of $100,000 and $100,000 in Restricted Stock Units that vest at the end of the initial term of the Agreement. The Agreement has a term of one year and shall renew for successive one-year terms unless either party terminates the Agreement. The Agreement was effective as of May 17, 2023.
Stock Option Plan and other Employee Benefits Plans
The Company does not maintain a Stock Option Plan or other Employee Benefit Plans.
Overview of Compensation Program
We currently do not maintain a Compensation Committee of the Board of Directors. Until a formal committee is established, our entire Board of Directors has responsibility for establishing, implementing and continually monitoring adherence with the Company’s compensation philosophy. The Board of Directors ensures that the total compensation paid to the executives is fair, reasonable, and competitive.
Role of Executive Officers in Compensation Decisions
The Board of Directors makes all compensation decisions for, and approves recommendations regarding equity awards to, the executive officers and directors of the Company.
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