AVAX ONE TECHNOLOGY LTD. (AVX): CFO Mr. Polimeni reason not stated

Events in this filing

Item 5.02 as filed

Item 5.02.
Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
October 13, 2026, the Company and Mr. Polimeni entered into a separation and consulting agreement, effective as of August 18, 2026 (the
“Separation Agreement”), which provides for, among other things, Mr. Polimeni’s separation from the Company as Chief
Financial Officer and an associated separation payment, as well as the Company’s engagement of Mr. Polimeni as an independently
contracted consultant until March 31, 2027. In connection with services rendered under the Separation Agreement, Mr. Polimeni will receive
a monthly fee of $10,000 during the term thereof. The foregoing description of the Separation Agreement does not purport to be complete
and is subject to, and qualified in its entirety by reference to, the full text of the Separation Agreement, a copy of which is attached
hereto as Exhibit 10.1 and incorporated herein by reference.