Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 770

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 3
Chunk 770
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 Fold (as defined in the 2019 Plan),
Mr. Reeves’ employment is terminated (i) by Fold without cause or (ii) due to his resignation following: (A) a
material adverse change in his job position causing such position to be of materially less stature or responsibility or (B) a change
by the Company (or a successor company) in his principal work location by more than 60 miles, then, in either case, the award will vest
in full (to the extent then-unvested).

(3)Represents Fold RSUs that vest upon satisfaction of both a
service-based vesting requirement and a liquidity event vesting requirement. The service-based vesting condition is satisfied as to one-fourth
of the Fold RSUs on the first anniversary of the vesting commencing date and as to 1/48th of the Fold RSUs on each monthly
anniversary of the vesting commencement date thereafter, subject to the grantee’s continued service through the applicable vesting
date. The liquidity event vesting condition is satisfied upon the first to occur, on or prior to the seventh (7th) anniversary
of the grant date, of a change in control of Fold or an initial public offering of Fold’s common stock.

(4)Represents Fold RSUs that vest upon satisfaction of both a
service-based vesting requirement and a liquidity event vesting requirement. The service-based vesting condition is satisfied as to one-fourth
of the Fold RSUs on the first anniversary of the vesting commencing date and as to 1/48th of the Fold RSUs on each monthly
anniversary of the vesting commencement date thereafter, subject to the grantee’s continued service through the applicable vesting
date. The liquidity event vesting condition is satisfied upon the first to occur, on or prior to the seventh (7th) anniversary
of the grant date, of a change in control of Fold or an initial public offering of Fold’s common stock, subject to the grantee’s
continued service through the consummation of such change in control or initial public offering.

Executive Compensation Arrangements

Offer Letters

Offer Letter for Mr. Reeves

Fold is party to an offer letter, as amended, with
Mr. Reeves, which sets forth the terms and conditions of employment for Mr. Reeves, including base salary, his initial awards
of restricted Fold Common Stock and eligibility