Level Brands Inc., a Charlotte-based branding and marketing company, has given its CEO and chief financial officer raises and bonuses.

Martin Sumichrast, CEO and president of Level Brands, will now earn $270,000 annually. Mark Elliott, CFO and chief operating officer, will earn $180,000 annually.

Along with these raises, Sumichrast and Elliott received bonuses of $240,000 and $100,000, respectively, for their accomplishments in the last year.

The initial employment agreements that Sumichrast and Elliott entered into with Life Brands entitled them to an annual base salary of $120,000. These agreements were reached in January 2017.

The company’s board of directors approved of the changes on Jan. 19.

The compensation increase is effective retroactively for the pay period of Jan. 1, 2018. The board of directors are negotiating new employment agreements with Sumichrast and Elliott to reflect the changes.

Founded in 2015, Level Brands looks to take unconventional and bold branding and marketing approaches for customers. The company focuses on lifestyle consumer products, such as beauty and fashion.

Friday at midday, Life Brands’ shares sat at $4.96, up slightly.

The filing can be found here.