Form 8-K
8-K — Zone Frontier Inc.
Accession: 0001213900-26-113843
Filed: 2026-10-29
Period: 2026-10-23
CIK: 0001956741
SIC: 2842 (SPECIALTY CLEANING, POLISHING AND SANITATION PREPARATIONS)
Item: Material Modifications to Rights of Security Holders
Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
Item: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item: Financial Statements and Exhibits
Documents
8-K — ea0310062-8k_zone.htm (Primary)
EX-3.1 — CERTIFICATE OF CHANGE, FILED WITH THE SECRETARY OF STATE OF THE STATE OF NEVADA ON OCTOBER 23, 2026 (ea031006201ex3-1.htm)
EX-10.1 — SEVERANCE AND RELEASE AGREEMENT, DATED OCTOBER 23, 2026, BY AND BETWEEN ZONE FRONTIER INC. AND TRAVIS BUCHANAN (ea031006201ex10-1.htm)
EX-10.2 — SEVERANCE AND RELEASE AGREEMENT, DATED OCTOBER 23, 2026, BY AND BETWEEN ZONE FRONTIER INC. AND GARY HOLLST (ea031006201ex10-2.htm)
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8-K — CURRENT REPORT
8-K (Primary)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 23, 2026
ZONE FRONTIER INC.
(Exact name of registrant as specified in its charter)
Nevada
001-42033
88-4042082
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
5718 Westheimer Road, Suite 1000, Houston, Texas
77057
(Address of principal executive offices)
(Zip Code)
(713) 352-3977
(Registrant’s telephone number, including
area code)
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $0.0001 per share
ZONE
NYSE American LLC
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging Growth Company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 3.03 Material Modification to Rights of
Security Holders.
The information set forth in Item 5.03 of this
Current Report on Form 8-K (this “Current Report”) is incorporated herein by reference.
Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, on October 7, 2026, Zone
Frontier Inc. f/k/a CleanCore Solutions, Inc. (the “Company”) completed the sale (the “Closing”) of substantially
all of the assets of its legacy aqueous ozone cleaning products business (the “Cleaning Products Business”) to Sanzonate Holdings
LLC (the “Buyer”) pursuant to an Asset Purchase Agreement, dated October 7, 2026. In connection with the sale of the Cleaning
Products Business, effective October 23, 2026 (the “Separation Date”), the employment of Travis Buchanan, the Company’s
President, and Gary Hollst, the Company’s Chief Revenue Officer, terminated without cause, and each of Messrs. Buchanan and Hollst
resigned from all officer, director, committee and other positions held with the Company and its subsidiaries and affiliates.
The Company eliminated both roles, each of which related solely to the Cleaning Products Business and neither of which had responsibility
for the Company’s data center development business. Neither departure was the result of any disagreement with the Company on any
matter relating to its operations, policies or practices.
Buchanan Severance Agreement. On October
23, 2026, the Company and Mr. Buchanan entered into a Severance and Release Agreement (the “Buchanan Agreement”). Under the
Buchanan Agreement, and subject to Mr. Buchanan’s execution and non-revocation of the agreement and continued compliance with its
terms, the Company will pay Mr. Buchanan a lump sum cash severance payment of $150,000, less applicable taxes and withholdings, payable
on October 23, 2026 or, if later, within five business days after the agreement becomes effective. The severance payment, together with
a payment of $2,519 for accrued but unused paid time off, is in full satisfaction of all severance and other amounts payable to Mr. Buchanan
under his Executive Employment Agreement, dated December 20, 2024 (the “Buchanan Employment Agreement”), other than earned
but unpaid base salary at his annual rate of $165,000 through the Separation Date. Mr. Buchanan’s right to receive and retain the
severance payment is conditioned on his not being employed by, or providing services to, the Buyer, its affiliates or related parties,
or any successor to the Cleaning Products Business during the 12-month period following the Closing; if he does so, the unpaid severance
is forfeited and he must repay any severance previously paid. Receipt or ownership of an equity interest in the Buyer that is not conditioned
on the provision of services does not trigger forfeiture. The Buchanan Agreement also provides that, for six years following the Separation
Date, the Company will maintain Mr. Buchanan as an insured under its directors’ and officers’ liability insurance on terms
no less favorable than those applicable to its other former officers and directors, and requires Mr. Buchanan to provide transition cooperation
for six months, not to exceed five hours per week, compensated at an hourly rate based on his base salary.
Hollst Severance Agreement. On October
23, 2026, the Company and Mr. Hollst entered into a Severance and Release Agreement (the “Hollst Agreement” and, together
with the Buchanan Agreement, the “Severance Agreements”). Under the Hollst Agreement, and subject to Mr. Hollst’s execution
and non-revocation of the agreement, the Company will pay Mr. Hollst a lump sum cash severance payment of $125,000, equal to 12 months
of his base salary, less applicable taxes and withholdings, payable on October 23, 2026 or, if later, within five business days after
the agreement becomes effective. The lump sum is paid in lieu of the monthly installments otherwise provided under Section 5(b)(ii) of
his Employment Agreement, dated January 1, 2025 (the “Hollst Employment Agreement”), and fully satisfies the Company’s
severance obligations thereunder. Mr. Hollst will also receive accrued obligations, including earned but unpaid base salary through the
Separation Date and approximately $7,634 for accrued but unused paid time off. Mr. Hollst is free to be employed by or provide services
to any person, including the Buyer and its affiliates, without affecting his severance. The severance payment is subject to forfeiture
and repayment only upon a material breach by Mr. Hollst of his confidentiality, non-disparagement or return-of-property covenants, as
determined by a final, non-appealable judgment. Mr. Hollst has agreed to provide transition cooperation for 12 months, with compensation
at $250 per hour for cooperation time in excess of five hours in any calendar month. Mr. Hollst’s release does not extend to claims
under certain agreements between Mr. Hollst and Clayton Adams, a director of the Company, the Buyer or their affiliates, including a Side
Letter dated January 21, 2026 and a related make-whole note, or under a Share Surrender Agreement dated December 31, 2025 to which the
Company is a party; the Hollst Agreement provides that, other than the Share Surrender Agreement, neither the Company nor its subsidiaries
is a party to or has any obligation under those agreements.
1
Common Terms. Each Severance Agreement
contains a general release of claims by the executive in favor of the Company and related parties and a release of certain claims by the
Company in favor of the executive, in each case subject to customary exceptions. Each Severance Agreement terminates the executive’s
employment agreement as of the Separation Date, including the non-competition and non-solicitation covenants thereunder, while the executive’s
confidentiality obligations survive. Each Severance Agreement also contains customary non-disparagement, return of property, clawback
and insider trading policy provisions, and provides the executive with a 21-day review period and a seven-day revocation period following
execution, as required for a release of claims under the Age Discrimination in Employment Act of 1967.
The foregoing descriptions of the Severance Agreements
do not purport to be complete and are qualified in their entirety by reference to the full text of the Buchanan Agreement and the Hollst
Agreement, copies of which are filed as Exhibits 10.1 and 10.2, respectively, to this Current Report and incorporated herein by reference.
Item 5.03 Amendments to Articles of Incorporation
or Bylaws; Change in Fiscal Year.
On October 23, 2026, the Company filed a Certificate
of Change pursuant to Section 78.209 of the Nevada Revised Statutes (the “NRS”) with the Secretary of State of the State of
Nevada (the “Certificate of Change”) to effect a 1-for-60 reverse stock split of the Company’s common stock, par value
$0.0001 per share (the “Common Stock”), together with a corresponding decrease in the number of authorized shares of Common
Stock and preferred stock of the Company (the “Reverse Stock Split”). The Reverse Stock Split will become effective at 9:01
p.m. Pacific Time on October 29, 2026 (the “Effective Time”).
At the Effective Time, every 60 shares of Common
Stock issued and outstanding will automatically be combined into one share of Common Stock, and the number of shares held by each stockholder
of record will be proportionately decreased. As a result of the Reverse Stock Split, the number of authorized shares of Common Stock will
decrease from 6,942,000,000 shares to 115,700,000 shares, and the number of authorized shares of “blank check” preferred stock
will decrease from 50,000,000 shares to 833,334 shares. The par value of the Common Stock and the preferred stock will remain $0.0001
per share. In accordance with NRS 78.207, stockholder approval of the Reverse Stock Split was not required because the authorized shares
of each affected class are being decreased in the same proportion as the issued and outstanding shares of that class.
No fractional shares will be issued in connection
with the Reverse Stock Split. Stockholders who would otherwise be entitled to a fractional share will instead have such fractional share
rounded up to the nearest whole share. Proportionate adjustments will be made to the number of shares of Common Stock issuable upon the
exercise or settlement of the Company’s outstanding options, warrants, restricted stock units and other equity awards, to the corresponding
exercise prices, and to the number of shares reserved for issuance under the Company’s equity incentive plans, in each case in accordance
with their terms.
The Common Stock is expected to begin trading
on NYSE American LLC on a split-adjusted basis at the market open on October 30, 2026, under the existing trading symbol “ZONE”
and a new CUSIP number, 184492205.
The foregoing description of the Certificate of
Change does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Change, a
copy of which is filed as Exhibit 3.1 to this Current Report and incorporated herein by reference.
2
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
3.1
Certificate of Change, filed with the Secretary of State of the State of Nevada on October 23, 2026
10.1
Severance and Release Agreement, dated October 23, 2026, by and between Zone Frontier Inc. and Travis Buchanan
10.2
Severance and Release Agreement, dated October 23, 2026, by and between Zone Frontier Inc. and Gary Hollst
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
3
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 29, 2026
ZONE FRONTIER INC.
/s/ Tyler Hassen
Name:
Tyler Hassen
Title:
Chief Executive Officer
4
EX-3.1 — CERTIFICATE OF CHANGE, FILED WITH THE SECRETARY OF STATE OF THE STATE OF NEVADA ON OCTOBER 23, 2026
EX-3.1
Filename: ea031006201ex3-1.htm · Sequence: 2
Exhibit 3.1
EX-10.1 — SEVERANCE AND RELEASE AGREEMENT, DATED OCTOBER 23, 2026, BY AND BETWEEN ZONE FRONTIER INC. AND TRAVIS BUCHANAN
EX-10.1
Filename: ea031006201ex10-1.htm · Sequence: 3
Exhibit 10.1
SEVERANCE AND RELEASE AGREEMENT
This
SEVERANCE AND RELEASE AGREEMENT (this “Agreement”) is entered into as of October 23, 2026 (the “Effective Date”),
by and between Zone Frontier Inc. (formerly known as CleanCore Solutions, Inc.), a Nevada corporation (the “Company”),
and Travis Buchanan (“Executive”). The Company and Executive are each referred to herein as a “Party”
and together as the “Parties.”
RECITALS
A.
Executive is employed by the Company as its President pursuant to that certain Executive Employment Agreement, dated as of December 20,
2024, by and between the Company (then known as CleanCore Solutions, Inc.) and Executive (the “Employment Agreement”).
B.
On October 7, 2026, the Company entered into, and closed on the transactions contemplated by, that certain Asset Purchase Agreement,
dated as of October 7, 2026 (the “APA”), with Sanzonate Holdings LLC, a Nevada limited liability company (“Buyer”),
pursuant to which the Company sold substantially all of the assets of its aqueous ozone cleaning products business (the “Business”)
to Buyer. The consummation of such sale is referred to herein as the “Closing,” and the date on which the Closing
occurred is referred to herein as the “Closing Date.”
C.
In connection with the Closing and the sale of the Business, Executive will not continue in the employ of the Company, and Executive’s
employment with the Company will terminate without Cause (as defined in the Employment Agreement) as of the Effective Date (the “Separation
Date”).
D.
The Parties desire to set forth the severance to be provided to Executive and the other terms of Executive’s separation from the
Company, including releases of claims in favor of the Company and Executive.
NOW, THEREFORE, in consideration
of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Parties agree as follows:
1. Non-Assignability
of Employment Agreement. The Company represents and warrants that the Employment Agreement, and any rights or obligations of
the Company thereunder, have not been, and will not be, assigned to Buyer in connection with the Closing.
2. Effectiveness;
Separation. Notwithstanding the Effective Date, this Agreement shall become effective and enforceable on the Release Effective
Date (as defined in Section 10); provided that Executive has executed and delivered this Agreement to the Company and has not revoked
it in accordance with Section 10. Effective as of the Separation Date, Executive hereby resigns from all officer, director, committee
and other positions he holds with the Company and any of its subsidiaries and affiliates, and agrees to execute any additional documents
reasonably requested by the Company to effectuate such resignations.
3. Accrued
Obligations. The Company shall pay Executive, less applicable taxes and withholdings, on the Company’s first regularly
scheduled payroll date following the Separation Date, whether or not Executive executes this Agreement: (a) all earned but unpaid Base
Salary, at Executive’s current annual rate of $165,000, for the period from October 5, 2026 through the Separation Date (which
amount is approximately $7,557 for the period through October 20, 2026, subject to adjustment for any additional days worked through
the Separation Date); and (b) $2,519 in respect of four (4) days of accrued but unused paid time off (the “PTO Payment”)
(collectively, the “Accrued Obligations”). Executive shall also be reimbursed for any reasonable business expenses
properly incurred through the Separation Date and submitted in accordance with Company policy within thirty (30) days after the Separation
Date.
4. Severance
Payment. Subject to Executive’s execution and non-revocation of this Agreement and continued compliance with its terms,
the Company shall pay Executive a lump sum cash payment of $150,000, less applicable taxes and withholdings (the “Severance
Payment”). The Parties acknowledge and agree that the Severance Payment and the PTO Payment together total $152,519 and are
in full satisfaction of any severance, health stipend, accrued but unused paid time off, or other amounts that are or may become payable
to Executive under the Employment Agreement or otherwise, other than the earned but unpaid Base Salary described in Section 3(a).
The Severance Payment shall
be paid on October 23, 2026 or, if later, within five (5) business days after the Release Effective Date (as defined in Section 10), through
the Company’s payroll or, at Executive’s written election, by wire transfer of immediately available funds to an account designated
by Executive in writing. The Severance Payment and the Accrued Obligations total approximately $160,076 (subject to adjustment of earned
Base Salary through the actual Separation Date). Executive acknowledges that the Severance Payment exceeds any amount to which he would
otherwise be entitled absent this Agreement.
5. No
Other Compensation; Benefits. Executive acknowledges and agrees that, upon receipt of the Accrued Obligations and the Severance
Payment, he will have received all salary, wages, bonuses, commissions, paid time off, severance, equity or equity-based awards, benefits
and other compensation of any kind owed to him by the Company or any of the Company Releasees (as defined below), and that no other amounts
are owed to him. Executive’s participation in the Company’s employee benefit plans shall end as of the Separation Date, except
as otherwise provided under the terms of such plans or applicable law. Executive will receive separate information regarding any right
to elect continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”),
which shall be at Executive’s sole expense.
6. Directors’
and Officers’ Liability Insurance Coverage. For a period of six (6) years following the Separation Date, the Company will
maintain Executive as an insured under its Directors’ and Officers’ Liability Insurance policy for acts and omissions occurring
on or before the Separation Date, or thereafter pursuant to Section 17 hereof, in Executive’s capacity as an officer, director,
employee, or agent of the Company, or in any other capacity in which Executive served at the request of the Company. The coverage must
be on terms and conditions no less favorable to Executive than those that apply to the Company’s other former officers and directors,
subject to the terms, conditions and exclusions of such policy. If, during such six (6) year period, the Company obtains tail or run-off
coverage for its directors and officers in connection with a change in control, sale of all or substantially all of its assets, dissolution
or similar transaction, Executive shall be included as an insured under such coverage on the same basis as the Company’s other
former officers and directors.
7. Executive’s
Release of Claims. In exchange for the Severance Payment and the other consideration provided herein, Executive, on behalf of
himself and his heirs, executors, administrators, representatives, successors and assigns, hereby knowingly and voluntarily, irrevocably
and unconditionally releases and forever discharges the Company, its past, present and future parents, subsidiaries and affiliates, and
each of their respective past, present and future directors, officers, employees, stockholders, agents, attorneys, insurers, employee
benefit plans (and the fiduciaries thereof), successors and assigns, in their capacities as such (collectively, the “Company
Releasees”), from any and all claims, demands, causes of action, liabilities, damages, losses, costs and expenses (including
attorneys’ fees) of any kind whatsoever, whether known or unknown, suspected or unsuspected, that Executive ever had, now has or
may have against any of the Company Releasees arising out of or relating to any act, omission, event or matter occurring on or before
the date Executive signs this Agreement (collectively, “Claims”), including, without limitation, any Claims:
(a)
arising out of or relating to Executive’s employment with the Company, the terms and conditions of such employment, or the termination
thereof;
2
(b)
under the Employment Agreement or any other agreement, offer letter, plan, policy, promise or understanding, whether written or oral,
express or implied, including any Claim for salary, bonus, incentive compensation, severance, equity or other compensation or benefits;
(c)
under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, Sections 1981 through 1988 of Title 42 of the United States
Code, the Age Discrimination in Employment Act of 1967 (the “ADEA”), the Older Workers Benefit Protection Act, the
Americans with Disabilities Act of 1990, the Family and Medical Leave Act, the Employee Retirement Income Security Act of 1974 (other
than Claims for vested benefits), the Equal Pay Act, the Worker Adjustment and Retraining Notification Act, the Genetic Information Nondiscrimination
Act, the Nebraska Fair Employment Practice Act, the Nebraska Age Discrimination in Employment Act, the Nebraska Wage Payment and Collection
Act, and any other federal, state or local law, regulation or ordinance relating to employment, discrimination, harassment, retaliation,
wages or benefits, each as amended; and
(d)
for wrongful discharge, breach of contract, breach of the implied covenant of good faith and fair dealing, promissory estoppel, fraud,
misrepresentation, defamation, infliction of emotional distress, negligence or any other tort or common law theory.
Notwithstanding the foregoing,
Executive does not release (i) any right to the Accrued Obligations or to enforce this Agreement; (ii) any right to vested benefits under
any tax-qualified retirement plan of the Company; (iii) any right to indemnification, advancement of expenses or coverage under any directors’
and officers’ liability insurance policy pursuant to the Company’s articles of incorporation, bylaws, any indemnification
agreement or applicable law; (iv) any rights as a holder of the Company’s capital stock; (v) any right to elect COBRA continuation
coverage; (vi) any Claim arising after the date Executive signs this Agreement; (vii) any claims relating to Social Security, workers’
compensation, or unemployment insurance benefits; or (viii) any Claim that cannot be waived as a matter of law. Additionally, it is understood
and agreed to by the Parties that neither Buyer nor any of Buyer’s past, present and future parents, subsidiaries and affiliates,
nor any of their respective past, present and future directors, officers, employees, stockholders, agents, attorneys, insurers, employee
benefit plans (and the fiduciaries thereof), successors and assigns, in their capacities as such are included within the definition of
Company Releasees.
8. Company’s
Release of Claims. In consideration for Executive’s agreement to the covenants of this Agreement, the Company hereby irrevocably
and unconditionally releases and forever discharges, to the maximum extent permitted by law, Executive of and from any and all claims,
demands, causes of action, obligations, damages, or liabilities of any kind and nature whatsoever, at law or in equity, which the Company
ever had, now has, or may have had against Executive by reason of any matter, cause, or thing relating to Executive’s employment
or separation of employment with the Company, prior to and as of the Separation Date, in each case to the extent known to the Company’s
executive officers as of the date the Company executes this Agreement. Notwithstanding the foregoing, the Company does not release, and
nothing in this Section 8 shall waive or impair, (a) any claim arising out of Executive’s fraud, embezzlement, theft, misappropriation,
willful misconduct, gross negligence, breach of fiduciary duty, or criminal conduct; (b) any right or claim under this Agreement or the
provisions of the Employment Agreement that survive in accordance with Section 21, including Executive’s confidentiality obligations;
(c) any right to recover compensation pursuant to Section 19(a) or applicable law; (d) any claim that cannot be released as a matter
of law; or (e) any claim arising after the Separation Date.
3
9. Protected
Rights. Nothing in this Agreement (including Sections 7, 11, 13, 14 and 19(b)) or in any other agreement with or policy of the
Company prohibits or restricts Executive from: (a) filing a charge or complaint with, communicating with, providing information or documents
to, or participating in any investigation or proceeding conducted by the Securities and Exchange Commission (the “SEC”),
the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, or
any other federal, state or local governmental agency or commission, in each case without notice to or approval from the Company; (b)
receiving an award from a governmental agency (including the SEC) for information provided; (c) testifying truthfully in any legal proceeding
or as required by law, subpoena or court order; (d) discussing or disclosing information about unlawful acts in the workplace, including
harassment, discrimination or any other conduct Executive has reason to believe is unlawful, or disclosing information concerning any
sexual assault or sexual harassment dispute to the extent such disclosure cannot be restricted under applicable law; or (e) exercising
any rights Executive may have under Section 7 of the National Labor Relations Act, to the extent applicable. However, to the maximum
extent permitted by law, Executive waives any right to recover any individual monetary relief from the Company Releasees in any charge,
complaint or lawsuit filed by Executive or on his behalf, other than an award from a governmental agency for information provided. Pursuant
to the Defend Trade Secrets Act of 2016, Executive shall not be held criminally or civilly liable under any federal or state trade secret
law for the disclosure of a trade secret that is made (x) in confidence to a federal, state or local government official, either directly
or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law, or (y) in a complaint
or other document filed in a lawsuit or other proceeding, if such filing is made under seal.
10. ADEA
Acknowledgments; Review and Revocation. Executive acknowledges that he is knowingly and voluntarily waiving and releasing any
rights he may have under the ADEA, and that the consideration given for this Agreement is in addition to anything of value to which he
is already entitled. Executive further acknowledges that he has been advised by this writing that: (a) he should consult with an attorney
of his choice prior to executing this Agreement; (b) he has twenty-one (21) days after receiving this Agreement to consider it (although
he may voluntarily elect to sign it sooner, and changes to this Agreement, whether material or immaterial, do not restart such period);
(c) he may revoke this Agreement within seven (7) days after he signs it by delivering written notice of revocation to the Company’s
Chief Executive Officer at tyler@zonefrontier.com; and (d) this Agreement shall not become effective or enforceable until such revocation
period has expired without revocation (the first day following such expiration, the “Release Effective Date”). If
Executive revokes this Agreement, he shall not be entitled to the Severance Payment.
11. Executive
Representations. Executive represents and warrants that: (a) he has not filed or caused to be filed any lawsuit, complaint, charge
or claim against any of the Company Releasees; (b) he has reported to the Company any work-related injury or illness; (c) he has been
properly provided any leave to which he was entitled; (d) he has not assigned or transferred any Claim released herein; and (e) he has
no Knowledge of any acts constituting a material violation of law or Company policy relating to the Company Releasees that Executive
has not previously reported or made the Company aware of prior to the Separation Date. For purposes of this Section, “Knowledge”
shall mean Executive’s personal actual (and not constructive) current knowledge.
12. Severance
Condition; No Engagement by Buyer. Executive acknowledges that the Company is providing the Severance Payment to support Executive’s
transition to employment unrelated to the Business, and not to provide severance to an individual who will continue to work for the Business
under new ownership. Accordingly, Executive’s right to receive and retain the Severance Payment is expressly conditioned on Executive
not, during the twelve (12) month period following the Closing Date (the “Condition Period”), directly or indirectly,
being employed by, or providing services to (whether as an employee, officer, director, independent contractor (including on a Form 1099
basis), consultant, advisor, agent or in any other capacity), Buyer or any of its parents, subsidiaries, affiliates or other related
parties, or any successor to the Business (collectively, the “Buyer Parties”). Nothing in this Section 12 prohibits
Executive from accepting any employment or engagement, and Executive remains free to work for any person or entity, including in the
aqueous ozone or cleaning industry; however, if Executive accepts employment or any engagement with a Buyer Party during the Condition
Period, (a) the Company shall have no obligation to pay any unpaid portion of the Severance Payment, and (b) Executive shall repay to
the Company the gross amount of the Severance Payment previously paid within thirty (30) days after the commencement of such employment
or engagement. Executive shall promptly notify the Company in writing if he accepts any employment or engagement with a Buyer Party during
the Condition Period. Executive’s release of Claims under Section 7 and his other obligations under this Agreement shall remain
in full force and effect notwithstanding any such forfeiture or repayment. Notwithstanding the foregoing, none of the following shall
constitute employment by, or the provision of services to, a Buyer Party or result in forfeiture or repayment of the Severance Payment:
(i) Executive’s receipt, acceptance, ownership, or disposition of any equity, membership, profits, or other ownership interest
in any Buyer Party, or any right to acquire such interest, whether granted in recognition of Executive’s past contributions to
the Company and the Business or otherwise, provided that such grant is not conditioned on Executive providing services to any Buyer Party
during the Condition Period; (ii) Executive’s exercise of any rights as a holder of such interest, including voting, information,
and transfer rights; (iii) communications between Executive and any Buyer Party relating to such interest; and (iv) any transaction which
results in Executive, either alone or with others, purchasing (A) a controlling interest in the equity of a Buyer Party, or (B) all or
substantially all of the assets of a Buyer Party, in either case in connection with a purchase of the Business. The Company acknowledges
that Executive has disclosed that he may receive such an interest and agrees that such receipt does not conflict with this Agreement
or the Employment Agreement.
4
13. Confidential
Information; Continuing Obligations. Executive acknowledges and agrees that his obligations under Section 7(a)(i) (Confidential
Information) of the Employment Agreement, together with the related provisions of Sections 7(a)(ii), 7(b) and 7(c) thereof, shall survive
the Separation Date and the termination of the Employment Agreement in accordance with their terms. Executive further agrees not to use
or disclose any confidential or proprietary information of the Company that remains with the Company following the Closing.
14. Non-Disparagement.
Subject to Section 9, Executive shall not, directly or indirectly, make, publish or communicate to any person or entity, or in any public
forum (including social media), any statement, whether oral, written or electronic, that disparages, defames or maligns, or is reasonably
likely to harm the reputation of, the Company or any of its subsidiaries or affiliates, or any of their respective businesses, products,
services, directors, officers or employees, except as follows: (A) to Executive’s spouse; (B) to Executive’s accounting,
tax, or legal advisors; (C) as required by applicable law, regulation, subpoena, court order, administrative order or ruling, or other
similar requirement; or (D) as may be necessary to enforce the terms of this Agreement. Notwithstanding the foregoing, Executive’s
obligations under this Section 14 shall not extend to Buyer or any of its parents, subsidiaries or affiliates, or any of their respective
businesses, products, services, owners, directors, officers or employees, regardless of whether any such owners, directors, officers
or employees otherwise serve as directors, officers or employees of the Company. The Company shall instruct its directors and executive
officers, as of the Separation Date and for so long as they serve in such capacities, not to make any statement to any third party that
disparages, defames, or maligns, or is reasonably likely to harm the reputation of, Executive, except that statements may be made as
follows: (i) as may be necessary to enforce the rights under this Agreement; (ii) to the Company’s insurers, accounting, tax, or
legal advisors; (iii) to governmental taxing authorities; (iv) as may be necessary to process payments and other obligations under this
Agreement; (v) as may be required by applicable law, regulation, subpoena, court order, administrative order or ruling, securities exchange
rule or other similar requirement, including in any filing with or response to the SEC; or (vi) in the ordinary course of the Company’s
internal deliberations, investigations or reporting to its Board of Directors or auditors. Pursuant to 42 U.S.C. § 19403, this
provision does not apply to statements or communications by Executive related to a dispute involving sexual assault or sexual harassment
arising after Executive’s execution of this Agreement.
15. Neutral
Response to Employment Inquiries. The Company agrees that in the event it is contacted by potential future employers of Executive,
or anyone seeking a reference check concerning Executive, the Company will respond to such inquiries by stating only Executive’s
dates of employment, rate of pay, and position/title as of the Separation Date.
5
16. Return
of Property. Executive represents that he has returned, and agrees that on or before the Separation Date he will return, to the
Company (or to such person as the Company may direct in writing) all property, documents, files, data and equipment of the Company, including
all laptops, mobile devices, keys, access cards, credit cards and confidential information, in whatever form, and represents and agrees
that he has not retained and will not retain any copies thereof, except for documents relating solely to his own compensation and benefits.
17. Cooperation.
For a period of six (6) months following the Separation Date, Executive shall reasonably cooperate with the Company, upon reasonable
notice and at mutually convenient times that do not unreasonably interfere with Executive’s subsequent employment, in connection
with (a) the orderly transition of his duties and the completion of the transactions contemplated by the APA; (b) the preparation of
the Company’s financial statements and reports required to be filed with the SEC, including providing information reasonably requested
regarding periods during which Executive was employed; and (c) any investigation, audit, litigation or other proceeding relating to matters
of which Executive has knowledge as a result of his employment. Any time associated with Executive’s cooperation pursuant to this
Section shall be limited to no more than five (5) hours per week. The Company shall compensate Executive for all hours expended pursuant
to this Section at an hourly rate equal to Executive’s annual Base Salary as of the Separation Date divided by 2,080. The Company
shall also reimburse Executive for reasonable, pre-approved out-of-pocket expenses incurred in providing such cooperation.
18. Remedies.
Executive acknowledges that his obligations under Sections 13, 14 and 16 are material inducements for the Company to enter into this
Agreement and that any breach thereof would cause the Company irreparable harm for which monetary damages would be an inadequate remedy.
Accordingly, in the event of any breach or threatened breach of such Sections, the Company shall be entitled to injunctive relief and
specific performance, without the necessity of posting a bond or proving actual damages, in addition to any other remedies available
at law or in equity.
19. Clawback;
Securities Matters.
(a) Executive
acknowledges and agrees that any incentive-based compensation paid or awarded to him by the Company, including any quarterly bonus, shall
be subject to recovery, forfeiture or recoupment in accordance with the Company’s compensation recovery (clawback) policy adopted
pursuant to Section 10D of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), Rule 10D-1 thereunder
and the listing standards of the national securities exchange on which the Company’s securities are listed, as in effect from time
to time, and any other compensation recovery required by applicable law. No recovery of compensation pursuant to such policy shall constitute
a breach of this Agreement or give rise to any Claim by Executive.
(b) Executive
acknowledges that he remains subject to the Company’s Insider Trading Policy until the later of the Separation Date or the end of
the trading blackout period in effect on the Separation Date and, in any event, until any material nonpublic information regarding the
Company in his possession has been publicly disclosed or is no longer material. To the extent Executive is subject to Section 16 of the
Exchange Act, Executive shall continue to comply with his reporting obligations thereunder for so long as required by applicable law,
and the Company shall provide reasonable assistance with any required filings. Executive acknowledges that the Company may be required
to disclose this Agreement and its terms in its filings with the SEC (including on a Current Report on Form 8-K) and to file this Agreement
as an exhibit thereto, and Executive consents to such disclosure. Executive agrees to keep the terms of this Agreement confidential until
publicly disclosed by the Company, except for disclosure to his spouse and legal, tax and financial advisors, or as permitted by Section
9. To the extent the Company determines that it is required to disclose this Agreement and its terms in its filings with the SEC (including
on a Current Report on Form 8-K), such disclosure shall be accompanied by the statement attached hereto as Exhibit A.
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20. Taxes;
Section 409A. All payments under this Agreement shall be subject to applicable tax withholding and deductions. The payments under
this Agreement are intended to be exempt from or to comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the
Treasury Regulations thereunder (“Section 409A”), including as short-term deferrals, and this Agreement shall be interpreted
accordingly. Each payment hereunder shall be treated as a separate payment for purposes of Section 409A. Executive acknowledges that
the Company has made no representations regarding the tax treatment of any payment hereunder and that Executive is solely responsible
for any taxes owed by him.
21. Termination
of Employment Agreement. Effective as of the Separation Date, the Employment Agreement shall terminate and be of no further force
or effect, except for the provisions described in Section 13, which shall survive in accordance with their terms. The non-competition
and non-solicitation covenants set forth in Sections 7(a)(iii) and 7(a)(iv) of the Employment Agreement are hereby terminated and of
no further force or effect, and the Parties’ agreement with respect to Executive’s engagement by the Buyer Parties is set
forth exclusively in Section 12 of this Agreement. Executive acknowledges that this Agreement constitutes the release contemplated by
Section 6(a) of the Employment Agreement and that the payments provided herein fully satisfy all obligations of the Company under Section
6 of the Employment Agreement.
22. No
Admission. This Agreement does not constitute an admission by the Company or any of the Company Releasees or Executive of any
wrongdoing, liability or violation of any law, contract or policy, all of which are expressly denied.
23. Governing
Law; Venue; Waiver of Jury Trial. This Agreement shall be governed by and construed in accordance with the laws of the State
of Nebraska, without regard to its conflict of laws principles. Each Party irrevocably submits to the exclusive jurisdiction and venue
of the state and federal courts located in Douglas County, Nebraska for any action arising out of or relating to this Agreement or Executive’s
employment with the Company. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY IRREVOCABLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY
SUCH ACTION.
24. Miscellaneous.
(a) Entire
Agreement. This Agreement, together with the exhibit hereto and the surviving provisions of the Employment Agreement described in
Section 13, constitutes the entire agreement between the Parties regarding the subject matter hereof and supersedes all prior negotiations,
representations, agreements and understandings, whether written or oral. Executive acknowledges that he has not relied on any representation
or statement not set forth in this Agreement.
(b) Amendment;
Waiver. This Agreement may be amended or modified only by a written instrument signed by both Parties. No waiver of any provision
shall be effective unless in writing, and no waiver of any breach shall be deemed a waiver of any other or subsequent breach.
(c) Severability.
If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect;
provided, however, that if the release in Section 7 is held invalid or unenforceable as a result of a challenge by Executive, the Company
shall be entitled to repayment of the Severance Payment to the extent permitted by law.
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(d) Successors
and Assigns. This Agreement is personal to Executive and may not be assigned by him. This Agreement shall be binding upon and inure
to the benefit of the Company and its successors and assigns, and the Company may assign this Agreement to any successor to all or substantially
all of its business or assets. The Company Releasees are intended third-party beneficiaries of Section 7.
(e) Notices.
Notices hereunder shall be in writing and delivered personally, by nationally recognized overnight courier or by email, to the Company
at the attention of its Chief Executive Officer (tyler@zonefrontier.com) and to Executive at the most recent address and personal email
address on file with the Company, or to such other address as a Party may designate by notice.
(f) Construction.
The headings in this Agreement are for convenience only. The word “including” means “including, without limitation.”
This Agreement shall be construed as having been jointly drafted, and no presumption shall arise against either Party by virtue of authorship.
(g) Counterparts;
Electronic Signatures. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which
together shall constitute one instrument. Signatures delivered by .pdf, DocuSign or other electronic means shall be deemed original signatures.
EXECUTIVE ACKNOWLEDGES THAT
HE HAS CAREFULLY READ THIS AGREEMENT, UNDERSTANDS ALL OF ITS TERMS, INCLUDING THE GENERAL RELEASE OF CLAIMS IN SECTION 7, HAS HAD THE
OPPORTUNITY TO CONSULT WITH AN ATTORNEY OF HIS CHOICE, AND IS SIGNING THIS AGREEMENT KNOWINGLY AND VOLUNTARILY.
[Signature page follows]
8
IN WITNESS WHEREOF, the Parties
have executed this Severance and Release Agreement as of the date first written above.
COMPANY:
ZONE FRONTIER INC.
By:
/s/ Tyler Hassen
Name:
Tyler Hassen
Title:
Chief Executive Officer
Date signed: October 23, 2026
EXECUTIVE:
/s/ Travis Buchanan
Travis Buchanan
Date signed: October 23, 2026
[Signature Page to Severance
and Release Agreement – T. Buchanan]
EXHIBIT A TO SEVERANCE
AND RELEASE AGREEMENT
STATEMENT TO ACCOMPANY ANY
REQUIRED SEC DISCLOSURE
Effective October 23, 2026,
the employment of Travis Buchanan as President of Zone Frontier Inc. (the “Company”) ended without cause, as the Company eliminated
the role following the October 7, 2026 sale of its legacy aqueous ozone cleaning products business. Mr. Buchanan’s departure was not the
result of any disagreement with the Company on any matter relating to its operations, policies or practices. Mr. Buchanan led that business
day to day, and the Company is grateful for the steady, hands-on leadership he provided through a period of significant strategic transition.
His work included leading the acquisition of the Company’s European subsidiary, building large-scale manufacturing and distribution, and
developing relationships with national building-service contractors. His commitment to the business and its employees is appreciated.
The Company thanks Mr. Buchanan for his many contributions and wishes him great success.
EX-10.2 — SEVERANCE AND RELEASE AGREEMENT, DATED OCTOBER 23, 2026, BY AND BETWEEN ZONE FRONTIER INC. AND GARY HOLLST
EX-10.2
Filename: ea031006201ex10-2.htm · Sequence: 4
Exhibit 10.2
SEVERANCE AND RELEASE AGREEMENT
This SEVERANCE AND RELEASE
AGREEMENT (this “Agreement”) is entered into as of October ____, 2026 (the “Effective Date”), by
and between Zone Frontier Inc. (formerly known as CleanCore Solutions, Inc.), a Nevada corporation (the “Company”),
and Gary Hollst (“Executive”). The Company and Executive are each referred to herein as a “Party”
and together as the “Parties.”
RECITALS
A.
Executive is employed as Chief Revenue Officer pursuant to that certain Employment Agreement dated as of January 1, 2025 between the
Company and Executive (the “Employment Agreement”).
B.
On October 7, 2026, the Company entered into, and closed on the transactions contemplated by, that certain Asset Purchase Agreement,
dated as of October 7, 2026 (the “APA”), with Sanzonate Holdings LLC, a Nevada limited liability company (“Buyer”),
pursuant to which the Company sold substantially all of the assets of its aqueous ozone cleaning products business (the “Business”)
to Buyer. The consummation of such sale is referred to herein as the “Closing,” and the date on which the Closing
occurred is referred to herein as the “Closing Date.”
C.
In connection with the Closing and the sale of the Business, Executive will not continue in the employ of the Company, and Executive’s
employment with the Company will terminate without Cause (as defined in the Employment Agreement) as of the Effective Date (the “Separation
Date”), entitling Executive to severance under Section 5(b)(ii) of the Employment Agreement.
D.
The Parties desire to set forth the severance to be provided to Executive and the other terms of Executive’s separation from the
Company, including a general release of claims in favor of the Company.
NOW, THEREFORE, in consideration
of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Parties agree as follows:
1. Effectiveness;
Separation. Notwithstanding the Effective Date, this Agreement shall become effective and enforceable on the Release Effective
Date (as defined in Section 7); provided that Executive has executed and delivered this Agreement to the Company and has not revoked
it in accordance with Section 7. Effective as of the Separation Date, Executive hereby resigns from all officer, director, committee
and other positions he holds with the Company and any of its subsidiaries and affiliates, and agrees to execute any additional documents
reasonably requested by the Company to effectuate such resignations.
2. Accrued
Obligations. The Company shall pay Executive, less applicable taxes and withholdings, on the Company’s first regularly
scheduled payroll date following the Separation Date: (a) all earned but unpaid Base Salary through the Separation Date (which amount
is approximately $6,202 for the period through October 21, 2026, subject to adjustment for any additional days worked through the Separation
Date); and (b) approximately $7,634 in respect of sixteen (16) days of accrued but unused paid time off (collectively, the “Accrued
Obligations”). Executive shall also be reimbursed for any reasonable business expenses properly incurred through the Separation
Date and submitted in accordance with Company policy within thirty (30) days after the Separation Date. The Accrued Obligations are owed
to Executive whether or not he executes this Agreement, and any Accrued Obligation not paid on or before the date Executive signs this
Agreement shall be paid within three (3) business days thereafter.
3. Severance
Payment. Subject only to Executive’s execution and non-revocation of this Agreement, the Company agrees to pay Executive
a lump sum cash payment of $125,000, equal to twelve (12) months of Executive’s Base Salary at the annual rate of $125,000 (the
“Severance Payment”), in a single lump sum in lieu of the monthly installments provided under Section 5(b)(ii) of
the Employment Agreement.
The Severance Payment shall
be paid on October 23, 2026 or, if later, within five (5) business days after the Release Effective Date (as defined in Section 7), through
the Company’s payroll or, at Executive’s written election, by wire transfer of immediately available funds to an account designated
by Executive in writing. The Severance Payment and the Accrued Obligations total $138,836 (subject to adjustment of earned Base Salary
through the actual Separation Date). The Severance Payment is not subject to offset, forfeiture, repayment or any condition other than
as expressly stated in this Agreement (including Sections 14, 15(a) and 20(c)). Executive acknowledges that (a) absent this Agreement,
any severance under Section 5(b)(ii) of the Employment Agreement would be payable only in monthly installments over twelve (12) months,
and the payment of the Severance Payment in a single accelerated lump sum is a benefit to which he would not otherwise be entitled; and
(b) the accelerated payment of the Severance Payment, the Company’s release of claims under Section 5A and the Company’s other
covenants hereunder constitute consideration in addition to anything of value to which he is already entitled.
4. No
Other Compensation; Benefits. Executive acknowledges and agrees that, upon receipt of the Accrued Obligations and the Severance
Payment, he will have received all salary, wages, bonuses, commissions, paid time off, severance, equity or equity-based awards, benefits
and other compensation of any kind owed to him by the Company or any of the Company Releasees (as defined below), and that no other amounts
are owed to him; provided that nothing in this Section 4 shall release, waive, offset or otherwise affect any amount owed to Executive
under any Retained Agreement (as defined in Section 5), none of which (other than the Share Surrender Agreement, solely to the extent
of the Company’s express obligations thereunder) is an obligation of the Company. Executive’s participation in the Company’s
employee benefit plans shall end as of the Separation Date, except as otherwise provided under the terms of such plans or applicable
law. Executive will receive separate information regarding any right to elect continuation coverage under the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (“COBRA”), which shall be at Executive’s sole expense. Without limiting
the foregoing, Executive acknowledges that all restricted stock units, sales incentive bonuses and other compensation described in Exhibit
B to the Employment Agreement have either been paid or settled in full or are forfeited as of the Separation Date, other than any shares
of the Company’s capital stock previously issued to Executive.
5. General
Release of Claims. In exchange for the Severance Payment and the other consideration provided herein, Executive, on behalf of
himself and his heirs, executors, administrators, representatives, successors and assigns, hereby knowingly and voluntarily, irrevocably
and unconditionally releases and forever discharges the Company, its past, present and future parents, subsidiaries and affiliates, and
each of their respective past, present and future directors, officers, employees, stockholders, agents, attorneys, insurers, employee
benefit plans (and the fiduciaries thereof), successors and assigns, solely in their capacities as such (and, as to Clayton Adams and
the Buyer Parties (as defined in Section 9), solely in their capacities as directors, officers, employees or stockholders of the Company
and not in any individual or other capacity) (collectively, the “Company Releasees”), from any and all claims, demands,
causes of action, liabilities, damages, losses, costs and expenses (including attorneys’ fees) of any kind whatsoever, whether
known or unknown, suspected or unsuspected, that Executive ever had, now has or may have against any of the Company Releasees arising
out of Executive’s employment with the Company or the termination thereof, based on any act, omission, event or matter occurring
on or before the date Executive signs this Agreement (collectively, “Claims”), including, without limitation, any
Claims:
(a)
arising out of or relating to Executive’s employment with the Company, the terms and conditions of such employment, or the termination
thereof;
(b)
under the Employment Agreement or any other agreement, offer letter, plan, policy, promise or understanding, whether written or oral,
express or implied, including any Claim for salary, bonus, incentive compensation, severance, equity or other compensation or benefits;
2
(c)
under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, Sections 1981 through 1988 of Title 42 of the United States
Code, the Age Discrimination in Employment Act of 1967 (the “ADEA”), the Older Workers Benefit Protection Act, the
Americans with Disabilities Act of 1990, the Family and Medical Leave Act, the Employee Retirement Income Security Act of 1974 (other
than Claims for vested benefits), the Equal Pay Act, the Worker Adjustment and Retraining Notification Act, the Genetic Information Nondiscrimination
Act, the Nebraska Fair Employment Practice Act, the Nebraska Age Discrimination in Employment Act, the Nebraska Wage Payment and Collection
Act, and any other federal, state or local law, regulation or ordinance relating to employment, discrimination, harassment, retaliation,
wages or benefits, each as amended; and
(d)
for wrongful discharge, breach of contract, breach of the implied covenant of good faith and fair dealing, promissory estoppel, fraud,
misrepresentation, defamation, infliction of emotional distress, negligence or any other tort or common law theory, in each case arising
out of Executive’s employment with the Company.
Notwithstanding the foregoing,
Executive does not release (i) any right to the Accrued Obligations or to enforce this Agreement; (ii) any right to vested benefits under
any tax-qualified retirement plan of the Company; (iii) any right to indemnification, advancement of expenses or coverage under any directors’
and officers’ liability insurance policy pursuant to the Company’s articles of incorporation, bylaws, any indemnification
agreement or applicable law; (iv) any rights as a holder of the Company’s capital stock; (v) any right to elect COBRA continuation
coverage; (vi) any Claim arising after the date Executive signs this Agreement; (vii) any right, claim or remedy under or relating to
the Side Letter dated January 21, 2026 between Clayton Adams and Executive, the Make-Whole Note contemplated thereby (and any promissory
note issued or to be issued in respect thereof), the Share Surrender Agreement dated December 31, 2025 (the “Share Surrender
Agreement”), the Option Agreement referenced therein, or any other agreement between Executive and Clayton Adams, Sanzonate
Holdings LLC (including in its capacity as the “SpinCo” referred to in such Side Letter), any other issuer of the Make-Whole
Note (other than the Company or any of its subsidiaries) or any Buyer Party (collectively, the “Retained Agreements”),
or any claim against any such person (other than the Company and its subsidiaries) in any capacity other than as a director, officer or
employee of the Company; or (viii) any Claim that cannot be waived as a matter of law. Executive acknowledges and agrees that, other than
the Share Surrender Agreement, neither the Company nor any of its subsidiaries is a party to, or has any obligation or liability under
or in respect of, any Retained Agreement, and that nothing in this Agreement creates, assumes or guarantees any such obligation or liability
or preserves any Claim against the Company or any of its subsidiaries thereunder. The Parties acknowledge that the Company is a party
to the Share Surrender Agreement, which shall remain in full force and effect in accordance with its terms, and that nothing in this Agreement
(including this Section 5 and Section 5A) releases, waives, amends or otherwise affects any right or obligation of the Company or Executive
under the Share Surrender Agreement, or creates any obligation or liability of the Company in respect of any other Retained Agreement.
Section 5A. Release
by the Company. The Company, on behalf of itself and its past, present and future parents, subsidiaries, affiliates, successors
and assigns, hereby irrevocably and unconditionally releases and forever discharges Executive and his heirs, executors, administrators,
representatives, successors and assigns from any and all claims, demands, causes of action, liabilities, damages, losses, costs and expenses
(including attorneys’ fees) of any kind whatsoever, whether known or unknown, that the Company or any such person ever had, now
has or may have against Executive arising out of or relating to Executive’s employment with, or service as an officer of, the Company
or any of its affiliates, or any other act, omission, event or matter occurring on or before the date the Company signs this Agreement,
other than: (i) claims for breach of this Agreement; (ii) claims arising out of or relating to Executive’s fraud, embezzlement,
theft, misappropriation of Company funds or property, or any act or omission constituting a felony or a crime involving moral turpitude;
(iii) claims arising out of Executive’s gross negligence, willful misconduct or intentional breach of fiduciary duty; (iv) claims
for breach of any confidentiality, non-competition, non-solicitation, invention assignment or other restrictive covenant obligation owed
by Executive to the Company or any of its affiliates; (v) any right of the Company to recover, recoup or claw back compensation pursuant
to the Company’s clawback policy, Section 304 of the Sarbanes-Oxley Act of 2002, Section 10D of the Securities Exchange Act of 1934
and the rules thereunder, or any other applicable law or listing standard; (vi) any right, claim or remedy of the Company under the Share
Surrender Agreement; and (vii) any claim that cannot be released as a matter of law. The Company represents that it has full authority
to grant this release and that it has not assigned any claim released hereby.
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6. Protected
Rights. Nothing in this Agreement (including Sections 5, 10, 11 and 15(c)) or in any other agreement with or policy of the Company
prohibits or restricts Executive from: (a) filing a charge or complaint with, communicating with, providing information or documents
to, or participating in any investigation or proceeding conducted by the Securities and Exchange Commission (the “SEC”),
the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, or
any other federal, state or local governmental agency or commission, in each case without notice to or approval from the Company; (b)
receiving an award from a governmental agency (including the SEC) for information provided; (c) testifying truthfully in any legal proceeding
or as required by law, subpoena or court order; (d) discussing or disclosing information about unlawful acts in the workplace, including
harassment, discrimination or any other conduct Executive has reason to believe is unlawful, or disclosing information concerning any
sexual assault or sexual harassment dispute to the extent such disclosure cannot be restricted under applicable law; or (e) exercising
any rights Executive may have under Section 7 of the National Labor Relations Act, to the extent applicable. However, to the maximum
extent permitted by law, Executive waives any right to recover any individual monetary relief from the Company Releasees in any charge,
complaint or lawsuit filed by Executive or on his behalf, other than an award from a governmental agency for information provided. Pursuant
to the Defend Trade Secrets Act of 2016, Executive shall not be held criminally or civilly liable under any federal or state trade secret
law for the disclosure of a trade secret that is made (x) in confidence to a federal, state or local government official, either directly
or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law, or (y) in a complaint
or other document filed in a lawsuit or other proceeding, if such filing is made under seal.
7. ADEA
Acknowledgments; Review and Revocation. Executive acknowledges that he is knowingly and voluntarily waiving and releasing any
rights he may have under the ADEA, and that the consideration given for this Agreement is in addition to anything of value to which he
is already entitled. Executive further acknowledges that he has been advised by this writing that: (a) he should consult with an attorney
of his choice prior to executing this Agreement; (b) he has twenty-one (21) days after receiving this Agreement to consider it (although
he may voluntarily elect to sign it sooner, and changes to this Agreement, whether material or immaterial, do not restart such period);
(c) he may revoke this Agreement within seven (7) days after he signs it by delivering written notice of revocation to the Company’s
Chief Executive Officer at tyler@zonefrontier.com; and (d) this Agreement shall not become effective or enforceable until such revocation
period has expired without revocation (the first day following such expiration, the “Release Effective Date”). If
Executive revokes this Agreement, he shall not be entitled to the Severance Payment.
8. Executive
Representations. Executive represents and warrants that: (a) he has not filed or caused to be filed any lawsuit, complaint, charge
or claim against any of the Company Releasees; (b) he has reported to the Company any work-related injury or illness; (c) he has been
properly provided any leave to which he was entitled; (d) he has not assigned or transferred any Claim released herein; and (e) except
as previously disclosed in writing to the Company’s Chief Executive Officer, its Board of Directors or the Audit Committee thereof,
he has not knowingly engaged in any conduct that constitutes a violation of law, fraud, or a material violation of the Company’s
policies (including its Code of Business Conduct and Ethics). Nothing in this Section 8 limits Section 6, and no representation in this
Section 8 shall be a basis for forfeiture of, or any claim for repayment of, any amount paid or payable under this Agreement, except
in the case of a representation that Executive knew to be materially false when made.
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9. Freedom
to Work; No Restrictions. Executive shall be free, at any time before or after the Closing Date, to be employed by or to provide
services to any person or entity, including Buyer and its parents, subsidiaries, affiliates and other related parties and any successor
to the Business (collectively, the “Buyer Parties”), in any capacity, including as an employee, officer, director, independent
contractor (including on a Form 1099 basis), consultant, advisor or agent, including in the aqueous ozone or cleaning industry, and to
receive equity, notes or other compensation from any of them. No payment under this Agreement or the Employment Agreement shall be conditioned
on, reduced, forfeited, delayed or subject to repayment by reason of any such employment or engagement, and neither the Company nor any
of its successors or assigns (including any Buyer Party claiming through the Company) shall assert any non-competition, non-solicitation
or similar restriction against Executive, whether arising under the Employment Agreement or otherwise.
10. Confidential
Information; Continuing Obligations. Executive acknowledges and agrees that his obligations under Section 6(a)(i) (Confidential
Information) of the Employment Agreement, together with the related provisions of Section 6(a)(ii) thereof, shall survive the Separation
Date and the termination of the Employment Agreement in accordance with their terms. Executive further agrees not to use or disclose
any confidential or proprietary information of the Company that remains with the Company following the Closing. Executive acknowledges
that the confidential information of the Business may be enforced by Buyer as a successor to the Company to the extent assigned under
the APA. For the avoidance of doubt, nothing in this Section 10 or in Section 6 of the Employment Agreement restricts Executive from
competing with the Company or the Buyer Parties, soliciting any person, working in any industry, or using his general skills, knowledge
and experience.
11. Non-Disparagement.
Subject to Section 6, Executive shall not, directly or indirectly, make, publish or communicate to any person or entity, or in any public
forum (including social media), any statement, whether oral, written or electronic, that disparages, defames or maligns the Company or
any of its subsidiaries or affiliates, or any of their respective businesses, products, services, directors, officers or employees. The
Company shall not, in any press release, filing with the SEC or other official public statement, and shall instruct its directors and
executive officers, as of the Separation Date and for so long as they serve in such capacities, not to, make any statement to any third
party that disparages, defames or maligns Executive. Nothing in this Section 11 shall prevent any person from making truthful statements
to the extent required by applicable law, regulation, securities exchange rule or legal process, in connection with the enforcement of
this Agreement or any Retained Agreement, in communications with Clayton Adams, Sanzonate Holdings LLC, any issuer of the Make-Whole
Note, or their respective counsel or representatives regarding any Retained Agreement, or in any legal proceeding relating to any Retained
Agreement.
12. Return
of Property. Executive represents that, on or before the Separation Date, he has returned (or will return) to the Company (or,
to the extent such property is among the assets sold under the APA, to Buyer) all property, documents, files, data and equipment of the
Company, including all laptops, mobile devices, keys, access cards, credit cards and confidential information, in whatever form, and
has not retained any copies thereof, except for documents relating solely to his own compensation and benefits.
5
13. Cooperation.
For a period of twelve (12) months following the Separation Date, Executive shall reasonably cooperate with the Company, upon reasonable
notice and at mutually convenient times that do not unreasonably interfere with Executive’s subsequent employment, in connection
with (a) the orderly transition of his duties and the completion of the transactions contemplated by the APA; (b) the preparation of
the Company’s financial statements and reports required to be filed with the SEC, including providing information reasonably requested
regarding periods during which Executive was employed; and (c) any investigation, audit, litigation or other proceeding relating to matters
of which Executive has knowledge as a result of his employment. The Company shall reimburse Executive for reasonable, pre-approved out-of-pocket
expenses incurred in providing such cooperation and shall compensate Executive at a rate of $250 per hour for all cooperation time in
excess of five (5) hours in any calendar month. Executive shall have no obligation to cooperate in any matter in which his interests
are adverse to those of the Company or any of its affiliates, and nothing in this Section 13 requires Executive to waive any privilege,
any right under Section 6 or any right under any Retained Agreement.
14. Remedies.
Executive acknowledges that his obligations under Sections 10, 11 and 12 are material inducements for the Company to enter into this
Agreement and that any breach thereof would cause the Company irreparable harm for which monetary damages would be an inadequate remedy.
Accordingly, in the event of any breach or threatened breach of such Sections, the Company shall be entitled to injunctive relief and
specific performance, without the necessity of posting a bond or proving actual damages, in addition to any other remedies available
at law or in equity. Executive shall be entitled to the same injunctive relief and specific performance for any breach or threatened
breach by the Company of Section 11. In any action to enforce this Agreement, the prevailing party shall be entitled to recover its reasonable
attorneys’ fees and costs. In the event of a material breach by Executive of Section 10, 11 or 12, as determined by a final, non-appealable
judgment of a court of competent jurisdiction, the Company shall have no further obligation to pay any unpaid portion of the Severance
Payment and Executive shall promptly repay to the Company the gross amount of the Severance Payment previously paid; provided that Executive’s
release of Claims under Section 5 shall remain in full force and effect. Except as set forth in the preceding sentence, no breach by
Executive shall result in forfeiture or repayment of the Severance Payment or the Accrued Obligations.
15. Clawback;
Securities Matters.
(a)
Executive acknowledges and agrees that any incentive-based compensation paid or awarded to him by the Company, including any quarterly
Additional Compensation or sales incentive bonus, shall be subject to recovery, forfeiture or recoupment in accordance with the Company’s
compensation recovery (clawback) policy adopted pursuant to Section 10D of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), Rule 10D-1 thereunder and the listing standards of the national securities exchange on which the Company’s securities
are listed, as in effect from time to time, and any other compensation recovery required by applicable law. No recovery of compensation
pursuant to such policy shall constitute a breach of this Agreement or give rise to any Claim by Executive.
(b)
Executive acknowledges that he remains subject to the Company’s Insider Trading Policy until the later of the Separation Date or
the end of the trading blackout period in effect on the Separation Date and, in any event, until any material nonpublic information regarding
the Company in his possession has been publicly disclosed or is no longer material. To the extent Executive is subject to Section 16
of the Exchange Act, Executive shall continue to comply with his reporting obligations thereunder for so long as required by applicable
law, and the Company shall provide reasonable assistance with any required filings.
(c)
Executive acknowledges that the Company may be required to disclose this Agreement and its terms in its filings with the SEC (including
on a Current Report on Form 8-K) and to file this Agreement as an exhibit thereto, and Executive consents to such disclosure. Executive
agrees to keep the terms of this Agreement confidential until publicly disclosed by the Company, except for disclosure to his spouse
and legal, tax and financial advisors, or as permitted by Section 6.
6
16. Taxes;
Section 409A. All payments under this Agreement shall be subject to applicable tax withholding and deductions. The payments under
this Agreement are intended to be exempt from or to comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the
Treasury Regulations thereunder (“Section 409A”), including as short-term deferrals, and this Agreement shall be interpreted
accordingly. Each payment hereunder shall be treated as a separate payment for purposes of Section 409A. Executive acknowledges that
the Company has made no representations regarding the tax treatment of any payment hereunder and that Executive is solely responsible
for any taxes owed by him.
17. Termination
of Employment Agreement. Effective as of the Separation Date, the Employment Agreement shall terminate and be of no further force
or effect, except for the provisions described in Section 10, which shall survive in accordance with their terms. The non-competition
and non-solicitation covenants set forth in Sections 6(a)(iii) and 6(a)(iv) of the Employment Agreement are hereby terminated and of
no further force or effect, and the Parties’ agreement with respect to Executive’s engagement by the Buyer Parties is set
forth exclusively in Section 9 of this Agreement. The Company represents that it has not assigned, and covenants that it shall not assign,
the Employment Agreement or any right under Section 6(a)(iii) or 6(a)(iv) thereof to any person, notwithstanding Section 7(f) of the
Employment Agreement. Executive acknowledges that the payments provided herein, including the payment of the Severance Payment in a lump
sum in lieu of monthly installments, fully satisfy all obligations of the Company under Section 5(b)(ii) of the Employment Agreement
and constitute good and valuable consideration for the release and covenants set forth herein.
18. No
Admission. This Agreement does not constitute an admission by the Company or any of the Company Releasees of any wrongdoing,
liability or violation of any law, contract or policy, all of which are expressly denied.
19. Governing
Law; Venue; Waiver of Jury Trial. This Agreement shall be governed by and construed in accordance with the laws of the State
of Nebraska, without regard to its conflict of laws principles. Each Party irrevocably submits to the exclusive jurisdiction and venue
of the state and federal courts located in Douglas County, Nebraska for any action arising out of or relating to this Agreement or Executive’s
employment with the Company. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY IRREVOCABLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY
SUCH ACTION.
20. Miscellaneous.
(a) Entire
Agreement. This Agreement, together with the surviving provisions of the Employment Agreement described in Section 10, constitutes
the entire agreement between the Parties regarding the subject matter hereof and supersedes all prior negotiations, representations,
agreements and understandings, whether written or oral, in each case other than the Retained Agreements and any indemnification, advancement
or insurance rights described in clause (iii) of the final paragraph of Section 5, none of which are superseded. Executive acknowledges
that he has not relied on any representation or statement not set forth in this Agreement.
(b) Amendment;
Waiver. This Agreement may be amended or modified only by a written instrument signed by both Parties. No waiver of any provision
shall be effective unless in writing, and no waiver of any breach shall be deemed a waiver of any other or subsequent breach.
(c) Severability.
If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect;
provided, however, that if the release in Section 5 is held invalid or unenforceable as a result of a challenge by Executive, the Company
shall be entitled to repayment of the Severance Payment to the extent permitted by law; provided further that the foregoing shall not
apply to any challenge by Executive to the validity of his waiver of Claims under the ADEA.
7
(d) Successors
and Assigns. This Agreement is personal to Executive and may not be assigned by him; provided that any amounts payable to Executive
hereunder that remain unpaid at his death shall be paid to his estate. This Agreement shall be binding upon and inure to the benefit
of the Company and its successors and assigns, and the Company may assign this Agreement to any successor to all or substantially all
of its business or assets, provided that the assignee assumes in writing all of the Company’s obligations hereunder, whereupon
the Company shall be released from such obligations. The Company Releasees are intended third-party beneficiaries of Section 5.
(e) Notices.
Notices hereunder shall be in writing and delivered personally, by nationally recognized overnight courier or by email, to the Company
at the attention of its Chief Executive Officer (tyler@zonefrontier.com) and to Executive at the most recent address and personal email
address on file with the Company, or to such other address as a Party may designate by notice.
(f) Construction.
The headings in this Agreement are for convenience only. The word “including” means “including, without limitation.”
This Agreement shall be construed as having been jointly drafted, and no presumption shall arise against either Party by virtue of authorship.
(g) Counterparts;
Electronic Signatures. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which
together shall constitute one instrument. Signatures delivered by .pdf, DocuSign or other electronic means shall be deemed original signatures.
EXECUTIVE ACKNOWLEDGES THAT
HE HAS CAREFULLY READ THIS AGREEMENT, UNDERSTANDS ALL OF ITS TERMS, INCLUDING THE GENERAL RELEASE OF CLAIMS IN SECTION 5, HAS HAD THE
OPPORTUNITY TO CONSULT WITH AN ATTORNEY OF HIS CHOICE, AND IS SIGNING THIS AGREEMENT KNOWINGLY AND VOLUNTARILY.
[Signature page follows]
8
IN WITNESS WHEREOF, the Parties
have executed this Severance and Release Agreement as of the date first written above.
COMPANY:
ZONE FRONTIER INC.
By:
/s/ Tyler Hassen
Name:
Tyler Hassen
Title:
Chief Executive Officer
Date signed: October 23, 2026
EXECUTIVE:
/s/ Gary Hollst
Gary Hollst
Date signed: October 23, 2026
[Signature Page to Severance and Release Agreement – G. Hollst]
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Oct. 23, 2026
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