Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 310

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 310
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zman receives a base salary of $275,000 and is eligible to receive an annual bonus with a target of up to 50% of his then -currentbase salary. Mr. Salzman received a time -basedequity grant covering 390,800shares (the “ Equity Grant”), vesting as follows (subject to Mr. Salzman’s continued employment with the Company through the relevant vesting date): one sixth (1/6 th) of the Equity Grant will vest upon the 6 -monthanniversary of the effective date of the Salzman Agreement and the remainder of the Equity Grant will vest in substantially equal quarterly installments commencing with the first quarter following the 6month anniversary of the effective date of the Salzman Agreement. The vesting of the Equity Grant will be accelerated if Mr. Salzman is continuously employed through a change in control (excluding a reverse takeover transaction or Mergers for the purposes of listing Gryphon on a public exchange). Mr. Salzman will be entitled to receive those benefits that are made available to the other similarly situated executive employees and will be reimbursed for reasonable out -of-pocketexpenses. Upon the termination of the Salzman Agreement during the Gryphon’s first two full financial reporting quarters by (a) Mr. Salzman for good reason (as defined in the Salzman Agreement) or (b) by the Company without cause (as defined in the Salzman Agreement), then, subject to Mr. Salzman’s execution and non -revocationof and compliance with a separation and release agreement in a form provided by the Company, the Company will pay Mr. Salzman an amount equal to 3 months of his then -currentbase salary. Upon such a termination of the Salzman Agreement following the first two full financial reporting quarters of the Company, the Company will pay Mr. Salzman an amount equal to (a) 12 months of his then -currentbase salary, plus (b) Mr. Salzman’s then -currentannual bonus target. 169 Pursuant to the Salzman Agreement, Mr. Salzman is subject to standard restrictive covenants, including a non -disparagementcovenant and non -competitionand customer and employee non -solicitationcovenants for the period of Mr. Salzman’s employment and for the six months thereafter. Eric Gallie Employment Agreement On December 12, 2024, Gryphon entered into a letter agreement (the “ Gallie Agreement”) with Eric Gallie, pursuant to which Mr. Gallie will