ALBT Avalon GloboCare Corporation

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 9, 2023, Lourdes Felix was appointed to the Board of Directors of Avalon GloboCare Corp. (the “Company”) to serve as a director of the Company. Ms. Felix entered into an agreement pursuant to which she will serve as a director of the Company and the Chairwoman of the Compensation Committee. In addition, Tevi Troy, a director of the Company, was appointed as a member to the Audit Committee. The director agreement provides that Ms. Felix will receive options to receive 8,000 shares of common stock per year at an exercise price equal to the closing price on December 31st of the prior year vesting quarterly. The options shall vest in equal amounts quarterly and shall be exercisable for a period of five years. For partial year service during 2023, the Company granted Ms. Felix an option to acquire 7,803 shares of common stock at an exercise price of $4.01 for a term of five years vesting January 9, 2023 with respect to 1,803 shares of common stock during the first calendar quarter and 2,000 shares of common stock thereafter at the beginning of each quarter during 2023.

There is no understanding or arrangement between Ms. Felix and any other person pursuant to which she was appointed as a director.  Ms. Felix does not have any family relationship with any director, executive officer or person nominated or chosen by us to become a director or an executive officer. Ms. Felix has not had direct or indirect material interest in any transaction or proposed transaction, in which the Company was or is a proposed participant, exceeding $120,000.

Lourdes Felix is a female Hispanic entrepreneur and corporate finance executive with 30 years of combined experience in capital markets, public accounting, and the private sector who is driven by a passion for helping others. She presently serves as Chief Executive Officer, Chief Financial Officer and Director of BioCorRx Inc. (OTCQB: BICX), a leader in addiction treatment solutions and related disorders. Lourdes is also one of the founders and President of BioCorRx Pharmaceuticals Inc., a majority owned subsidiary of BioCorRx Inc that is focused on the development of addiction treatments and related disorders. She has been instrumental in capital procurement, completing multi-million dollar equity financing and accomplished in structuring and negotiating transactions and favorable terms with investment banks.

Ms. Felix has been a Director of BioCorRx Inc. since March 7, 2013. Ms. Felix was appointed Chief Executive Officer of BioCorRx Inc. on November 9, 2020 and became Chief Financial Officer of BioCorRx Inc. on October 1, 2012. Ms. Felix was President of BioCorRx Inc. from February 26, 2020 until she resigned upon her appointment as CEO on November 9, 2020. Ms. Felix is very active in the Hispanic community and speaks fluent Spanish. Ms. Felix holds a Bachelor of Science degree in Business Management and Accounting from University of Phoenix.

The foregoing information is a summary of each of the agreements involved in the transactions described above, is not complete, and is qualified in its entirety by reference to the full text of those agreements, each of which is attached an exhibit to this Current Report on Form 8-K. Readers should review those agreements for a complete understanding of the terms and conditions associated with this transaction.