Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 468

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 468
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 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 the term of the CEO Agreement and for the twelve (12) months following. Further, the CEO Agreement includes a “best pay” provision under Section 280G of the Internal Revenue Code, pursuant to which any “parachute payments” that become payable to Mr. Gutterman will either be paid in full or reduced so that such payments are not subject to the excise tax under Section 4999 of the Internal Revenue Code, whichever results in the better after -taxtreatment to Mr. Gutterman. Blockfusion Co-location Mining Services Agreement On December 1, 2024, the Company entered into an agreement with Blockfusion USA, Inc. (“Blockfusion”) to provide hosting services for 3,780of the Company’s bitcoin miners not to exceed 12MW of allocated power (“Blockfusion MSA”) for a period of twelve months (November 30, 2025), automatically renewing for one month extensions until terminated by either party, (“Term”). The Company is required to pay to Blockfusion a monthly facility fee of $ 13,000per MW, for an aggregate of $ 156,000(“Facility Fee”) for standard levels of maintenance of the Company’s Mining Equipment, including fault diagnosis