Amendment to Charles Faulkner Option Grant Agreements between Edgemode, Inc. and Charlie Faulkner
Edgemode, Inc. and Charlie Faulkner have agreed to amend Faulkner's existing stock option grants. In exchange for Faulkner converting $50,000 of his accrued salary into company equity, the exercise price for his options to purchase company shares is reduced to $0.005 per share. All other terms of the original option grants remain unchanged. The amendment is effective once Faulkner signs and returns the agreement.
Exhibit 10.2
EDGEMODE, INC.
Attention: Charlie Faulkner, Optionee
Re: Amendment to Option Grants
Dear Optionee,
Edgemode, Inc. (the “Company”) in consideration of the Optionee’s agreement to convert $50,000 of Optionee’s accrued salary payable under his Company employment agreement hereby amends each of his options to purchase up to: (1) 31,979,352 shares of the Company’s common stock dated January 31, 2022, exercisable at $0.06 per share (the “January 2022 Grants”); (2) 76,619,303 shares of the Company’s common stock dated September 12, 2022, as amended, exercisable at $0.10 per share (the “September 2022 Stock Option Grants”) and (3) 77,000,000 shares of the Company’s common stock dated March 1, 2023 exercisable at $0.04 per share (the “2023 Grants”; the January 2022 Grants, September 2022 Grants and the March 2023 Grants, collectively the “Option Grants”), to reduce the exercise price of the Option Grants to an exercise price of $0.005 per share, as stated herein.
| 1. | Amendment. Section 1 of each of the Option Grants is amended to reduce the Option Price to $0.005 per share. | |
| 2. | No Other Amendment. Except as specifically amended pursuant to this Amendment, the Option Grants remain in full force and effect in accordance with its terms. | |
| 3. | Effectiveness. This Amendment will become effective upon your acknowledgment of the terms and conditions of this Amendment and your delivery to us of a signed counterpart of this Amendment. |
Very truly yours,
/s/ Simon Wajcenberg___________________
Simon Wajcenberg, Chief Financial Officer
Dated: April 2, 2025
AGREED TO AND ACCEPTED ON APRIL 2, 2025
Optionee
/s/ Charlie Faulkner____________________
Charlie Faulkner, Chief Executive Officer
