---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-005190"
form_type: "8-K"
ticker: "NMGX"
cik: "0000891417"
company_name: "Nano Magic Inc."
filed_at: "2024-02-07T23:59:59+00:00"
generated_at: "2026-06-06T07:33:12.428860+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-005190
- form_type: 8-K
- ticker: NMGX
- cik: 0000891417
- company_name: Nano Magic Inc.
- filed_at: 2024-02-07T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/891417/000149315224005190/0001493152-24-005190-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/891417/000149315224005190/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-005190
- JSON: https://secwatch.observer/filing/0001493152-24-005190.json
- Plain text: https://secwatch.observer/filing/0001493152-24-005190.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.