NVFY · XMAX, Inc.

The renewal of CEO Xiaohua Lu's employment agreement ensures leadership continuity for XMax Inc. with a modest annual salary of $80,000, reflecting cost-conscious executive compensation amid potential financial constraints. The discretionary bonus structure ties additional pay to Board-determined performance, aligning incentives with company success. Lu's dual role as CEO and President underscores his central operational responsibilities, reporting directly to the Board. Standard perks like 12 vacation days and benefit plan access match those of other employees, with no severance entitlements upon termination. Restrictive covenants including six-month non-compete, non-solicitation, and confidentiality protections safeguard company interests post-employment.