Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 465

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 465
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 to the Unaudited Condensed Consolidated Financial Statements
For the Three Months Ended March 31, 2025 NOTE 8 — COMMITMENTS AND CONTINGENCIES (cont.) Under the CEO Agreement, Mr. Gutterman will be entitled to receive the following severance payments and benefits upon a termination of his employment by the Company without “cause,” by Mr. Gutterman for “good reason” (each, as defined in the CEO Agreement and collectively, a “Qualifying Termination”), that does not occur in connection with a change in control: (1)the Accrued Obligations (as defined in the CEO Agreement), (2)Mr. Gutterman’s annual base salary, and (3)the product of (x) 12 and (y) Mr. Gutterman’s monthly cost for health and welfare benefits pursuant to his elections under the Company’s health and welfare benefit plans, as in effect on the termination date (collectively, the “Non -CICSeverance”) The Non -CICSeverance will be paid in a lump sum as soon as practicable following the effective date of a release but no later than 74 days following Mr. Gutterman’s termination. If Mr. Gutterman incurs a Qualifying Termination within thirty (30) days prior to or twelve (12) months following a change in control, then in addition to the Non -CICSeverance, Mr. Gutterman will be entitled to the following: (4)An amount equal to 0.5 times Mr. Gutterman’s target bonus and (5)acceleration and vesting on a prorated basis (performance goals will be assumed to have been achieved at target) of each outstanding equity award held by Mr. Gutterman as of the termination date (but excluding the Incentive Bonus) (collectively, the “CIC Severance”). To the extent payable in cash, the CIC Severance will be paid in a lump sum as soon as practicable following the effective date of a release, but no later than 74 days after Mr. Gutterman’s termination date. The severance payments and benefits described above are subject to Mr. Gutterman’s execution and non -revocationof a general release of claims in favor of the Company and continued compliance with his restrictive covenant obligations. The CEO Agreement includes certain restrictive covenants, which include non -solicitationand non -competitioncovenants during