{"url_path":"/sec/ilxp/8-k/2026-07-21/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 Certain Officers.**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-21","source_url":"https://www.sec.gov/Archives/edgar/data/1115864/0001477932-26-004416-index.html","accession_number":"0001477932-26-004416","cik":"0001115864","ticker":"ILXP","issuer_name":"ECOMINAS CORP.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1115864/0001477932-26-004416-index.html","primary_entity_key":"0001115864","primary_entity_name":"ECOMINAS CORP."},"word_count":562,"has_tables":true,"body_markdown":"**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**\n\n \n\n**Executive Employment Agreement with Ricardo Enrique Silva Canelon**\n\n \n\nEffective July 17, 2026, the Company entered into an Executive Employment Agreement with Ricardo Enrique Silva Canelon, who serves as the Company’s Chief Executive Officer, President, Chief Financial Officer, Treasurer, Secretary, and Chairman of the Board of Directors. The agreement has a 12-month term commencing July 17, 2026 and ending July 16, 2027, unless earlier terminated in accordance with its terms. Mr. Canelon will not receive a cash salary under the agreement. In lieu of cash compensation for the term, Mr. Canelon is entitled to receive an aggregate of 36,000,000 restricted shares of the Company’s common stock. The shares are fully earned, vested, and issuable upon execution and delivery of the agreement and approval of the agreement and issuance by the Board of Directors. Termination of Mr. Canelon’s employment before expiration of the term will not result in forfeiture, cancellation, repayment, or return of the shares, except in the case of fraud, willful misconduct, breach of fiduciary duty, or another circumstance expressly requiring forfeiture under applicable law or a separate written agreement.\n\n \n\nEither the Company or Mr. Canelon may terminate his employment at any time, with or without cause, upon written notice to the other party. Mr. Canelon is not entitled to severance or additional cash or equity compensation solely as a result of termination. Mr. Canelon may also be reimbursed for reasonable and necessary business expenses incurred in performing services for the Company, subject to the terms of the agreement.\n\n \n\n \n\n2\n\n \n\n \n\n**Executive Employment Agreement with Andrew Gaudet**\n\n \n\nEffective July 17, 2026, the Company entered into an Executive Employment Agreement with Andrew Gaudet, who serves as the Company’s Chief Operating Officer and as a member of the Board of Directors. The agreement has a 12-month term commencing July 17, 2026 and ending July 16, 2027, unless earlier terminated in accordance with its terms. Mr. Gaudet will not receive a cash salary under the agreement. In lieu of cash compensation for the term, Mr. Gaudet is entitled to receive an aggregate of 12,000,000 restricted shares of the Company’s common stock.\n\n \n\nThe shares are fully earned, vested, and issuable upon execution and delivery of the agreement and approval of the agreement and issuance by the Board of Directors. Termination of Mr. Gaudet’s employment before expiration of the term will not result in forfeiture, cancellation, repayment, or return of the shares, except in the case of fraud, willful misconduct, breach of fiduciary duty, or another circumstance expressly requiring forfeiture under applicable law or a separate written agreement.\n\n \n\nEither the Company or Mr. Gaudet may terminate his employment at any time, with or without cause, upon written notice to the other party. Mr. Gaudet is not entitled to severance or additional cash or equity compensation solely as a result of termination. Mr. Gaudet may also be reimbursed for reasonable and necessary business expenses incurred in performing services for the Company, subject to the terms of the agreement.\n\n \n\nThe foregoing descriptions of the Executive Employment Agreements do not purport to be complete and are qualified in their entirety by reference to the full text of the agreements, copies of which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K and incorporated herein by reference."}