{"url_path":"/sec/olox/8-k/2026-06-11/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","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-11","source_url":"https://www.sec.gov/Archives/edgar/data/1023994/0001213900-26-067507-index.html","accession_number":"0001213900-26-067507","cik":"0001023994","ticker":"OLOX","issuer_name":"OLENOX INDUSTRIES INC.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1023994/0001213900-26-067507-index.html","primary_entity_key":"0001023994","primary_entity_name":"OLENOX INDUSTRIES INC."},"word_count":670,"has_tables":true,"body_markdown":"**Item 5.02.\nDeparture of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain\nOfficers.**\n\n \n\nOn\nMay 28, 2026, Olenox Industries Inc. (the “Company”) appointed Erik Blum as the Company’s President effective June\n1, 2026, and entered into an employment agreement with Mr. Blum (the “Employment Agreement”) to employ Mr. Blum commencing\non June 1, 2026, in such capacity for an initial term of one (1) year, and which Employment Agreement provides for an annual base salary\nof $200,000, a restricted stock grant under the Company’s Stock Incentive Plan for $50,000 worth of shares of the Company’s\ncommon stock, vesting quarterly on a pro-rata basis over the next eighteen (18) months of continuous service, and an annual performance\nbonus of up to 20% of Mr. Blum’s then-base salary, payable in cash and/or equity, as determined by the Company’s Board of\nDirectors. Mr. Blum continues to serve as a member of the Company’s Board of Directors. Mr. Blum resigned from the Company’s\nAudit Committee and as Chair of the Audit Committee prior to his appointment as the Company’s President.\n\n \n\nErik.\nBlum, age 60, currently serves as Chief Executive Officer of Fynntechnical Innovations Inc (FYNN), where he has led the corporate operations\nof a publicly traded company, also led taking FYNN from a non-reporting pink sheet status to a audited, reporting entity under the Securities\nExchange Act of 1934, as amended, as of November 2023. With over 30 years’ experience in debt, corporate finance, and company management,\nMr. Blum has long-term knowledge relating to equity and debt markets. Beginning in 2001, Mr. Blum structured CMOs with a specialization\nin inverse floaters for Fannie Mae and Freddie Mac. In 2005, he helped create a reverse convertible bond desk for Stern Agee. He was\na registered principal compliance offer for close to 27 years on Wall Street. He left Wall Street in 2010 to found JW Price LLC, a corporate\nconsulting firm, which focused on providing business development services to microcaps and other small public companies. During his time\nat JW Price, Mr. Blum helped multiple companies become successful public traded entities. He has sat as CEO, CFO, and director of multiple\ncompanies and has been instrumental in helping in enabling their turnaround.\n\n \n\nMr.\nBlum is subject to a one-year post-termination non-compete and non-solicit of employees and clients. Mr. Blum is also bound by confidentiality\nprovisions.\n\n \n\nThere\nare no family relationships between Mr. Blum and any of the Company’s directors or executive officers. In addition, as set forth\nabove, Mr. Blum is not a party to any transaction, or series of transactions, required to be disclosed pursuant to Item 404(a) of Regulation\nS-K.\n\n \n\nThe\ndescriptions of the Employment Agreement do not purport to be complete and are qualified in their entirety by reference to the full text\nof the Employment Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by\nreference.\n\n \n\nOn\nJune 5, 2026, Olenox Industries, Inc. (the “Company”) informed Patricia Kaelin, Chief Financial Officer of the Company, of\nher dismissal from the Company, and the Company received a resignation letter back from her the same day. The Company has commenced its\nsearch for a replacement Chief Financial Officer.\n\n \n\nThe\nCompany has provided Ms. Kaelin with a copy of the disclosure it is making in response to this Item 5.02 no later than the date of filing\nthis Current Report on Form 8-K with the SEC. The Company will provide Ms. Kaelin with the opportunity to furnish the Company as promptly\nas possible with a letter addressed to the Company stating whether Ms. Kaelin agrees with the statements made by the Company in response\nto this Item 5.02 and, if not, stating the respects in which she does not agree. The Company will file any such letter received from\nMs. Kaelin with the SEC as an exhibit by amendment to this Form Current Report on Form 8-K within two business days after receipt by\nthe Company."}