Upexi, Inc. Employment Agreements Summary

On April 24, 2025, Upexi, Inc. entered into employment agreements with Allan Marshall as Chief Executive Officer (CEO) and Andrew J. Norstrud as Chief Financial Officer (CFO).

Allan Marshall's Employment Agreement:
Base Salary: $840,000 per year, with potential increases at the discretion of the Board.

Equity Awards:

Warrant to purchase 500,000 shares at $2.28 per share (5-year term).

75,000 shares in restricted stock that cliff vests after 6 months.

Performance Bonuses: Based on achieving certain milestones.

Term: Three years, automatically renews for one year unless terminated earlier.

Termination: If terminated by the company (other than for cause or death) or by Mr. Marshall for good reason, he will receive a lump sum equal to three times his base salary plus target bonus.

Andrew J. Norstrud's Employment Agreement:
Base Salary: $350,000 per year, with potential increases at the discretion of the Board.

Equity Awards:

100,000 shares in restricted stock that vests 10% per month over 10 months.

Bonus: Quarterly bonus between 30% to 100% of salary, based on CEO's discretion.

Term: Three years, automatically renews for one year unless terminated earlier.

Termination: If terminated by the company (other than for cause or death) or by Mr. Norstrud for good reason, he will receive a lump sum equal to three times his base salary plus target bonus.

Both agreements include provisions for severance in the event of termination without cause or by the executives for good reason.