Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 774

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 774
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 from the application of Section 409A of the Code and the U.S. Department of Treasury Regulations and other interpretive guidance issued thereunder (collectively, “ Section 409A ”). Neither the Non-Section 423 Component nor any right to purchase Shares granted pursuant to an Offering thereunder is intended to constitute or provide for “nonqualified deferred compensation” within the meaning of Section 409A. Notwithstanding any provision of the Plan to the contrary, if the Administrator determines that any right to purchase Shares granted under the Plan may be or become subject to Section 409A or that any provision of the Plan may cause a right to purchase Shares granted under the Plan to be or become subject to Section 409A, the Administrator may adopt such amendments to the Plan and/or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions as the Administrator determines are necessary or appropriate to avoid the imposition of taxes under Section 409A, either through compliance with the requirements of Section 409A or with an available exemption therefrom. * * * * * Annex E-13 Annex F July 23, 2024 Board of Directors of
FTAC Emerald Acquisition Corp.
2929 Arch Street, Suite 1703 Philadelphia, PA 19104 Dear Members of the Board of Directors: We understand that FTAC Emerald Acquisition Corp., a Delaware corporation (“ EMLD ”), proposes to enter into an Agreement and Plan of Merger, dated as of July 23, 2024 (the “ Merger Agreement ”), by and among Fold, Inc., a Delaware corporation (the “ Company ”), EMLD, and EMLD Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of EMLD (“ Merger Sub ”), under which Merger Sub will merge with and into the Company, with the Company surviving such merger (the “ Merger ”) as a direct wholly owned subsidiary of EMLD. The terms of the Merger are more fully set forth in the Merger Agreement and capitalized terms used but not defined herein have the meanings ascribed to such terms in the Merger Agreement. You have requested our opinion as to (i) the fairness, from a financial point of view, to EMLD of the consideration paid by EMLD to the equityholders of the Company pursuant to the Merger Agreement, and (ii) whether the Company has an aggregate fair market value equal to at least 80 percent of the balance of funds in E