Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 20, 2022, the Compensation Committee of the Board of Directors (the "Board") of Twin Vee PowerCats Co. (the "Company"), in an effort to better align the Company's Chief Executive Officer's bonus compensation with that of other chief executive officers of similarly situated public companies, approved an amendment, to the Company's employment agreement with Mr. Visconti to increase his bonus percentage from 100% to 120% of his then-Base Salary. A copy of the amendment to Mr. Visconti's employment agreement is attached hereto as Exhibits 10.1 and is incorporated herein by reference.

Also on October 20, 2022, the Compensation Committee, awarded (i) Mr. Visconti an option to purchase 250,000 shares of common stock, vesting monthly over three years and (ii) the following equity compensation to the non-executive members of the Board and its Committees: Neil Ross and James Melvin were each awarded an option to purchase 5,500 shares of common stock, and Bard Rockenbach was awarded an option to purchase 4,583 shares of common stock effective as of November 4, 2022.

The shares of common stock underlying the option awards vest as pro rata monthly over 9 months for Messrs. Ross and Melvin and over 12 months for Mr. Rockenbach, subject to the director's continuous service to the Company on each applicable vesting date. Each option is exercisable for a period of ten years from the date of grant and has an exercise price of $2.01 per share, the closing price of the Company's common stock on the Nasdaq Capital Market on the date of the grant.

Item 9.01. Financial Statements and Exhibits.





(d) Exhibits.



Exhibit
Number     Exhibit Description

  10.1       Amendment to Employment Agreement between Twin Vee PowerCats Co. and
           Joseph Visconti, effective as of October 20, 2022
  104      Cover Page Interactive Data File (embedded within the Inline XBRL
           document)




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