{"url_path":"/sec/avx/8-k/2026-07-06/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-06","source_url":"https://www.sec.gov/Archives/edgar/data/1826397/0001493152-26-032086-index.html","accession_number":"0001493152-26-032086","cik":"0001826397","ticker":"AVX","issuer_name":"AVAX ONE TECHNOLOGY LTD.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1826397/0001493152-26-032086-index.html","primary_entity_key":"0001826397","primary_entity_name":"AVAX ONE TECHNOLOGY LTD."},"word_count":360,"has_tables":true,"body_markdown":"** **\n\n**Item\n5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of\nCertain Officers.**\n\n** **\n\nOn\nJuly 3, 2026 (the “Effective Date”), by mutual agreement, Jolie Kahn departed from her role as Chief Executive Officer of\nAVAX One Technology Ltd. (the “Company”), effective as of the Effective Date. There was no disagreement with the Company\nknown to an executive officer of the Company on any matter relating to the Company’s operations, policies or practices in connection\nwith Ms. Kahn’s departure, nor has Ms. Kahn been removed for cause.\n\n \n\nIn\nthe interim, and while the Company’s Board of Directors conducts a search for a permanent successor, Peter Wylie Jr. will assume\nthe role of interim CEO of the Company, in addition to continuing to serve as the Company’s Chief Operating Officer. In connection\nwith his increased responsibilities as interim CEO, Mr. Wylie will receive an increase in his compensation and receive a total payment\nof $40,000 per month.\n\n \n\nIn\nconnection with Ms. Kahn’s departure, on July 5, 2026, Ms. Kahn and the Company entered into a Separation and Release Agreement\n(the “Kahn Separation Agreement”) that terminates the Consulting Agreement, dated November 1, 2025, as amended, between Ms.\nKahn and the Company (the “Consulting Agreement”), effective as of the Effective Date. Pursuant to the Kahn Separation Agreement,\nand in exchange for a general release of claims in favor of the Company and the other released parties, Ms. Kahn will receive a lump\nsum cash payment of $160,000 in lieu of payment of her consulting fees through the end of the term of the Consulting Agreement, reimbursement\nfor certain medical insurance costs, and a grant of shares of unregistered common stock having a fair market value of $250,000. Ms. Kahn\nwill remain subject to certain non-competition, non-solicitation and non-disparagement covenants that survive the termination of the\nConsulting Agreement.\n\n \n\nThe\nforegoing description of the Kahn Separation Agreement does not purport to be complete and is qualified in its entirety by reference\nto the full text of the Kahn Separation Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated\nherein by reference."}