Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 162

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 3
Chunk 162
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 the Merger Agreement in any applicable law or U.S. generally accepted accounting principles (“U.S. GAAP”),
including, in each case, the authoritative interpretation or enforcement thereof;

●any action required by a governmental authority pursuant to
antitrust laws in connection with the Mergers; and

●any action or omission taken by ABTC pursuant to the prior written
request of Gryphon, subject to certain exceptions set forth in the ABTC Merger Agreement.

Certain officers and directors of Gryphon
have interests in the Mergers that may be different from or in addition to, the interests of Gryphon stockholders generally.

Some of Gryphon’s directors and officers
have interests in the Mergers that are different from Gryphon’s stockholders generally and that may influence them to support or
approve the Mergers without regard to the interests of Gryphon’s other stockholders. For example:

●based on the terms of his employment agreement, Steve Gutterman,
the Company’s Chief Executive Officer, will be entitled to receive a total value of approximately $2,290,794 in connection with
the Closing, which consists of (i) $737,164 as part of severance payments under his employment agreement and (ii) approximately $1,553,630
in value associated with the accelerated vesting of outstanding unvested restricted stock units;

●based on the terms of his employment agreement, Simeon Salzman,
the Company’s Chief Financial Officer, will be entitled to receive a total value of approximately $412,500 in connection with the
Closing, which consists of a severance payment under his employment agreement that is payable in twelve equal monthly installments;

●based on the terms of his employment agreement, Eric Gallie,
the Company’s Senior Vice President, Energy, will be entitled to receive a total value of approximately $835,000 in connection
with the Closing, which consists of (i) $250,000 as part of severance payments under his employment agreement, payable in twelve equal
monthly installments and (ii) approximately $585,000 in value associated with the accelerated vesting of outstanding unvested restricted
stock units; and

●Gryphon’s directors and officers will be eligible for continued
indemnification and continued coverage under directors’ and officers’ liability insurance after the Mergers and pursuant to
the terms of the ABTC Merger Agreement.

The Gryphon Board was aware of these interests
and considered them, among other matters,