Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1349

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 1349
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 Additionally, if Mr. Belizaire
is terminated without Cause or he resigns for Good Reason, subject to satisfaction of certain release conditions, he will also be entitled
to coverage under the Company’s health insurance plan covering Mr. Belizaire for eighteen (18) months after the termination of
his employment, and six months of his Base Salary, paid in equal monthly installments on regular Company payroll dates over the six months
following such termination date.

John
Tunison

The
Company appointed John Tunison to serve as the Chief Financial Officer and Treasurer of the Company, effective as of March 29, 2024.
In connection with the Board’s appointment of Mr. Tunison as Chief Financial Officer, the Company and Mr. Tunison entered into
a three-year employment agreement (the “Employment Agreement”). The Employment Agreement provides for (i) an initial annual
base salary of $350,000 and a potential performance bonus of up to 50% of the base salary as well as severance and other standard employment
benefits (ii) an equity award in the form of restricted common stock under incentive equity plans maintained by the Company on the Company’s
standard form award agreements with a reference percentage of 2% and (iii) an equity award in the form of restricted preferred stock
under incentive equity plans maintained by the Company on the Company’s standard form award agreements for 25,000 shares.

Long-Term
Equity Incentive Compensation

Equity
awards typically take the form of stock options, restricted stock grants, or restricted stock units under our equity compensation plans.
Authority to make equity awards to executive officers rests with the Compensation Committee. In determining the size of awards for new
or current executives, the Compensation Committee consider the competitive market, strategic plan performance, contribution to future
initiatives, benchmarking of comparative equity ownership for executives in comparable positions at similar companies, individual option
history, and recommendations of our Chief Executive Officer and Chairman.

The
timing of all equity awards for our named executive officers have coincided with either employment anniversary dates or our annual meeting
dates, or such equity awards are granted at the next scheduled meeting of the Compensation Committee following the completion or assignment
of the applicable objectives. We do not time equity grants to our executives in coordination with the release of material non-public
information, nor do we impose any equity ownership guidelines on our executives.

72

Outstanding
Equity Awards at Fiscal Year End

The
following table provides information as