AVAX ONE TECHNOLOGY LTD. 8-K

What Happened

• AVAX One Technology Ltd. (AVX) filed an 8-K reporting that CEO Jolie Kahn departed by mutual agreement effective July 3, 2026. The company says there was no known disagreement with management and Kahn was not removed for cause.
• Peter Wylie Jr., the company’s Chief Operating Officer, will serve as interim CEO while the board searches for a permanent successor and will continue as COO. In connection with the interim role, Mr. Wylie’s compensation will increase to a total payment of $40,000 per month.
• The company and Ms. Kahn executed a Separation and Release Agreement dated July 5, 2026, terminating her Consulting Agreement (dated Nov. 1, 2025). AVAX issued a press release on July 6, 2026 announcing the leadership change.

Key Details

• Effective date of CEO departure: July 3, 2026.
• Interim CEO compensation: $40,000 per month to Peter Wylie Jr.
• Separation payment to Jolie Kahn: $160,000 lump sum (in lieu of consulting fees through the Consulting Agreement term), reimbursement for certain medical insurance costs, plus a grant of unregistered common stock with a fair market value of $250,000.
• Post-termination restrictions: Kahn remains subject to non-competition, non-solicitation and non-disparagement covenants under the Separation Agreement.

Why It Matters

• Leadership change: A CEO transition can affect strategy execution, investor confidence, and day-to-day operations; the board has named an internal interim leader to provide continuity.
• Financial impact: The company recorded defined cash and equity obligations tied to the departure (a $160k cash payment and $250k in unregistered stock), plus ongoing higher monthly cash compensation for the interim CEO. These are direct, disclosed costs investors can factor into near-term cash use.
• Governance note: The filing states no disagreement or removal for cause, and the separation includes standard restrictive covenants. The full Separation and Release Agreement is filed as an exhibit to the 8-K for investors who want the complete terms.