Functional Brands amends CEO pay: replaces $500K RSU with fully vested option for 3.5M shares at $0.0055

Functional Brands Inc.

Amendment No. 3 to CEO Eric Gripentrog's employment agreement approved June 30, 2026.
Replaces prior $500,000 RSU award with option to purchase 3,500,000 shares at $0.0055/share.
Option is fully vested immediately, has 10-year term, grant-date fair value ~$14,685.
Option is an incentive stock option under the 2026 Equity Incentive Plan.
No other changes to employment agreement.

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