Nano Magic extends CEO Tom Berman's contract through 2024 with $225K salary and performance bonuses

Nano Magic Inc.

CEO Tom Berman's employment agreement extended through December 31, 2024; annual salary set at $225,000.
Revenue bonus: cumulative bonuses from $50K at $5M revenue up to $250K at $10M+, payable quarterly.
Profit bonus: 5% of EBITDA, or 10% if EBITDA ≥20% of revenue, payable in cash/options.
Termination provisions: Revenue bonus remains eligible if not terminated for Cause; other benefits cease.
Effective date January 1, 2024; agreement supplements prior 2019 employment agreement as amended in 2021.

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