Company: IPST
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-006695
Chunk: 192

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 192
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 Ms. Baumann resigned from our board of directors in February 
 2024.                                                        |

| (3) | Mr. Alstead and Mr. Varga were appointed to our board of directors                                                                   
 at the closing of our November 2024 initial public offering and the fees shown in the table above represents fees for December 2024. |

Cash Compensation.Under a new director compensation program adopted in connection with our November 2024 initial public offering, we pay each non-employee director a cash fee, payable quarterly, of $40,000 per year for service on our board of directors. 123 Committee Fees.If a non-employee director is designated to participate on a committee of our board of directors as either a chairperson or non-chairperson member, such director is entitled to compensation in addition to the quarterly cash fee in accordance with the following table:

|                                         |     | Chair |           |     | Member |           |
|:----------------------------------------|:----|:------|:----------|:----|:-------|:----------|
| Audit Committee                         |     | $     | 5,000/qtr |     | $      | 2,500/qtr |
| Compensation Committee                  |     | $     | 5,000/qtr |     | $      | 2,500/qtr |
| Nominating and Governance Committee     |     | $     | 5,000/qtr |     | $      | 2,500/qtr |
| Technology and Cryptocurrency Committee |     | $     | 5,000/qtr |     | $      | 2,500/qtr |

Directors serving as chair of a committee only earn the fee associated with their work as Chair; they are not eligible to earn both the Chair fee and the Member fee for their work on the same committee. Equity Awards: ● One-Time Initial RSU Award .Each newly appointed non-employee director receives a one-time initial restricted stock unit (“RSU”) award for shares of our common stock, which shares vest in arrears in two equal tranches on the first and second anniversaries of service on our Board. The amount of awards is set by the Compensation Committee. ● One-Time Initial Stock Option Grant (optional). In addition to the one-time initial RSU Award, each non-employee director shall also be eligible to receive a one-time initial grant of stock options, each in an amount designated by the Compensation Committee of our board of directors, from any equity compensation plan