Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 47

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4A
Chunk 47
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, participate in the Company’s group health benefits on a fully-subsidized basis, participate in the Company’s Canadian registered retirement savings plan, under which the Company provides an employer matching contribution of up to 6% of eligible compensation and earn an annual bonus equal to up to 65% of his annual base salary, as determined by the board of directors. In addition, Mr. MacCallum was awarded 3,070,467 RSU’s which vest over three years.

Under the MacCallum Employment Agreement, we may terminate Mr. MacCallum’s employment by providing Mr. MacCallum with the minimum (i) notice, or pay in lieu thereof, or some combination of the two, (ii) severance pay (if applicable), (iii) period of benefits continuation, (iv) vacation pay, and (v) other entitlements, if any, as required by the ESA, and in each case, subject to payment of severance equal to 12 months’ base salary, provided that we may terminate the services of Mr. MacCallum at any time with immediate effect for certain reasons including misconduct, criminal offense, or other reasons “for cause” under ESA within the Province of British Columbia. Mr. MacCallum may terminate his contract with us by providing the Company with a minimum of 90 days’ notice. The MacCallum Employment Agreement also contains restrictive covenants pursuant to which Mr. MacCallum has agreed to refrain from soliciting certain clients or employees of the Company who could materially damage our interests if involved in a competing business, for a period of 12 months following his termination of services.

Effective January 21, 2025 we entered into an interim employment contract with Mr. MacCallum, pursuant to which Mr. MacCallum would serve as our Interim Chief Executive Officer in addition to his role as Chief Financial Officer (the “2025 MacCallum Employment Agreement). Under the terms of the 2025 MacCallum Employment Agreement, Mr. MacCallum was entitled to receive $400,000 annually during his role as Interim Chief Executive Officer, and then $330,000 annually when the interim role concluded and he returned to his role of Chief Financial Officer. Under the 2025 MacCallum Employment Agreement, Mr. MacCallum is entitled to participate in the Company’s group health benefits on a fully-subsidized basis, participate in the Company’s Canadian registered retirement savings plan, under which the Company provides an employer matching contribution of up