ALTD Altitude International Inc (CE)

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

CEO and Chairman Employment Agreement

On October 24, 2022, Altitude International Holdings, Inc. (the “Company”) entered into an employment agreement with Gregory Breunich, Chief Executive Officer and Chairman of the Company (the “Breunich Employment Agreement”). The Breunich Employment Agreement is for a term of five years, and it may be terminated by Mr. Breunich and the Company for good reason or for cause, respectively. Pursuant to the Breunich Employment Agreement, Mr. Breunich will receive an annual base salary of $300,000.00, of which $60,000.00 in the first year shall be deferred for one year and shall be eligible to earn annual target bonuses for each fiscal year comprised of a cash portion and a portion payable in shares of common stock of the Company, as discussed in the Breunich Employment Agreement. Mr. Breunich shall also be eligible to earn a buyout bonus to be paid to Mr. Breunich upon the closing of a sale of the Company.

Upon termination by Mr. Breunich for good reason, or by the Company without cause, the Company shall pay or provide to Mr. Breunich severance pay equal to his then current annual base salary for twelve (12) months, during which time Mr. Breunich shall continue to receive all employee benefits and employee benefit plans as described in the Breunich Employment Agreement. As a full-time employee of the Company, Mr. Breunich will be eligible to participate in all of the Company’s benefit programs.

COO, Executive Vice President and Director Employment Agreement

On October 24, 2022, the Company entered into an employment agreement with Scott Del Mastro, Executive Vice President, Chief Operating Officer and Director of the Company (the “Del Mastro Employment Agreement”). The terms of the Del Mastro Employment Agreement are substantially the same as the Breunich Employment Agreement, other than Mr. Del Mastro’s annual base salary which shall be $250,000.00 per year, of which $50,000.00 in the first year shall be deferred for one year.

Director of Tennis and Director Employment Agreement

On October 24, 2022, the Company entered into an employment agreement with Gabriel Jaramillo, Director of Tennis and Director of the Company (the “Jaramillo Employment Agreement”). The terms of the Jaramillo Employment Agreement are substantially the same as the Del Mastro Employment Agreement

Item 5.02 of this Current Report on Form 8-K contains only a brief description of the material terms of and does not purport to be a complete description of the rights and obligations of the parties to the Breunich Employment Agreement, the Del Mastro Employment Agreement and the Jaramillo Employment Agreement, and such descriptions are qualified in their entirety by reference to the full texts of the Breunich Employment Agreement, the Del Mastro Employment Agreement and the Jaramillo Employment Agreement, copies of which are filed herewith as Exhibits 10.1, 10.2 and 10.3, respectively.