Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 303

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 303
---
 a $450,000 annual base salary paid in accordance with Gryphon’s normal payroll practices and which may be increased in the discretion of Gryphon’s Board, but not reduced, (B) for 2024, a pro -ratedbonus based on the Company’s and/or Mr. Gutterman’s achievement of performance goals, with the sum of the 2024 and 2025 bonuses being no less than 40% of Mr. Gutterman’s base salary, (C) a target annual bonus beginning in 2025 equal to 100% of base salary, with the actual amount of such bonus determined in the discretion of Gryphon’s Board, based on the achievement of individual and/or company performance goals determined by the Gryphon Board and payable on the date annual bonuses are paid to Gryphon’s other senior executives, but in no event later than March 15 thand conditioned upon Mr. Gutterman’s continued employment through the payment date, (D) a target annual stock bonus beginning in 2025 equal to 100% of Mr. Gutterman’s base salary, which may be paid in performance stock units or RSUs and which shall be subject to vesting conditions following the grant of such units, (E) a recommendation to the Gryphon Board that the Gryphon Board make a sign -onequity grant valued at $1,000,000 in the form RSUs, which will vest as to one -third(1/3 rd) of the RSUs (rounded down to the nearest whole share) (x) on each of the first two anniversaries of the grant date and (y) upon the Company’s remediation of certain stock exchange listing qualification failures that exist as of the effective date of the Gutterman Agreement and (F) eligibility to participate in customary health, welfare and fringe benefit plans Gryphon provides to employees. The Gutterman Agreement also provides Mr. Gutterman with the opportunity to earn an “incentive award” (as defined in his employment agreement) upon attainment of certain Gryphon stock price and market capitalization goals. Based on Gryphon’s stock price and market capitalization on May20, 2025, no portion of the incentive award is expected to vest or become payable in connection with the Mergers and Mr.Gutterman’s right to receive the incentive award will terminate in connection with a termination of his employment. All bonuses payable under the Gutterman Agreement, except the stock bonus, may be paid in cash, Bitcoin