Volcon terminates supplier agreements with GLV Ventures; pays $125K/month for 22 months

Empery Digital Inc.

Terminated three supplier agreements for Stag prototypes, Grunt EVO motorcycle, and Stag vehicle with GLV.
Company to pay termination fee of $125,000 per month for 22 months (total $2.75M).
Mutual indemnification for certain outstanding vendor payables between Volcon and GLV.
Appointed Orn Olason as independent director; annual cash fee $50,000 plus $100,000 stock option (vesting 1 year).
Option grant subject to shareholder approval of share increase under Volcon 2021 Stock Plan.

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