RDE Announces Executive Employment Agreement with Balazs Wellisch

On January 16, 2025, Giftify Inc. (NASDAQ: RSTN) entered into an Executive Employment Agreement with Balazs Wellisch, as per a recent 8-K filing with the Securities and Exchange Commission.

Wellisch, formerly the Chief Technology Officer of Restaurant.com, a subsidiary of Giftify Inc., is now appointed as the Chief Operating Officer of Restaurant.com under the terms of the three-year Agreement. According to the Agreement, Wellisch will receive an annual base salary of $240,000, with a minimum annual base salary increase of 5% and a minimum annual bonus of $25,000.

In the event of the Agreement’s termination by Wellisch for good cause or by the Company without reason, the Company is obligated to pay Wellisch a cash payment over six months during the Severance Period. This payment includes compensation for salary equivalent to six months’ base salary or the remaining term of the Agreement, all vested equity, accelerated vesting of unvested equity, and continued benefit coverage.

Additionally, Wellisch has entered into a confidentiality and non-competition agreement that restricts him from competitive activities during and after the term of employment and prohibits the disclosure of confidential company information.

The specifics of the Agreement can be found in Exhibit 10.1 attached to the Current Report on Form 8-K filed by RDE.

Investors are encouraged to refer to the full Agreement for complete details. Symbol: GIFT, the filing further confirms RDE’s status as an emerging growth company.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read RDE’s 8K filing here.

RDE Company Profile

RDE, Inc owns and operates a restaurant deal space in the United States. The company operates Restaurant.com that connects digital consumers, businesses, and communities with dining and merchant deal options at approximately 182,500 restaurants and retailers to approximately 7.8 million customers. It sells discount certificates for restaurants, as well as complementary entertainment and travel offerings, and consumer products on behalf of third-party merchants.