Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 343

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 343
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 of the Board.

Board Composition

Our business and affairs are organized under the direction of the Board.
The Board consists of seven members and Dr. Kirkwood serves as Chairman of the Board. The primary responsibilities of the Board are to
provide oversight, strategic guidance, counseling and direction to our management. The Board meets on a regular basis and additionally
as required.

In accordance with the terms of our Charter, the Board is divided into
three classes, Class I, Class II and Class III, with only one class of directors being elected each year and each
class serving a three-year term. There is no cumulative voting with respect to the election of directors, with the result that the holders
of more than 50% of the shares voted for the election of directors can elect all of the directors. The Board is divided into the following
classes:

●Class I, consisting of Mr. Young and Mr. Hohns, whose
terms will expire at our first annual meeting of stockholders to be held after the closing of Business Combination;

●Class II, consisting of Dr. Kirkwood and Mr. Reeves,
whose terms will expire at our second annual meeting of stockholders to be held after the closing of Business Combination; and

●Class III, consisting of Mr. Simha, Ms. Hill and Ms.
Goldwasser, whose terms will expire at our third annual meeting of stockholders to be held after the closing of Business Combination.

At each annual meeting of stockholders to be held after the initial
classification, the successors to directors whose terms then expire will be elected to serve from the time of election and qualification
until the third annual meeting following their election and until their successors are duly elected and qualified, or their earlier resignation,
removal, disqualification or death. This classification of the Board may have the effect of delaying or preventing changes in our control
or management. Our directors may be removed for cause by the affirmative vote of the holders of at least 66 2/3% of our voting stock.

Role of the Board in Risk Oversight/Risk Committee

One of the key functions of the Board is informed oversight of our
risk management process. The Board does not have a standing risk management committee, but rather administers this oversight function
directly through the Board as a whole, as well as through various standing committees of the Board that address risks inherent in their
respective areas of oversight. In particular, the Board is responsible for monitoring and assessing strategic risk exposure