Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 46

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4A
Chunk 46
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 our interests if involved in a competing business, for a period of 12 months following his termination of services.
Mr. Chippas resigned from his positions as Chief Executive Officer and Executive Director effective February 28, 2025.

Justin Nolan

Effective as of March 22, 2025, we entered into an employment contract with Justin Nolan, pursuant to which Mr. Nolan serves as our Chief Executive Officer and an Executive Director (the “ Nolan Employment Agreement”). Under the terms of the Nolan Employment Agreement, Mr. Nolan is entitled to receive $400,000 annually, participate in the Company’s group health benefits on a 90% subsidized basis, participate in the Company’s 401k plan, under which the Company provides an employer matching contribution of up to 6% of eligible compensation, and earn an annual bonus equal to up to 100% of his annual base salary, as determined by the board of directors. In addition, Mr. Nolan was awarded 22,250,000 performance share units relating to the Company’s ordinary shares, which vest over three years (with a one year initial cliff) subject to certain performance conditions.

Table of Contents

Under the Nolan Employment Agreement, we may terminate Mr. Nolan’s employment by providing Mr. Nolan with the minimum (i) notice, or pay in lieu thereof, or some combination of the two, (ii) severance pay (if applicable), (iii) period of benefits continuation, and (iv) vacation pay, and in each case, subject to payment of severance equal to 12 months’ base salary, provided that we may terminate the services of Mr. Nolan at any time with immediate effect for certain reasons including misconduct, criminal offense, or other reasons “for cause”. Mr. Nolan may terminate his contract with us by providing the Company with a minimum of 60 days’ notice. The Nolan Employment Agreement also contains restrictive covenants pursuant to which Mr. Nolan has agreed to refrain from competing with us or soliciting certain clients or employees of the Company who could materially damage our interests if involved in a competing business, for a period of 12 months following his termination of services.

Jim MacCallum

Effective as of April 5, 2023, we entered into an employment contract with Jim MacCallum, pursuant to which Mr. MacCallum serves as our Chief Financial Officer (the “ MacCallum Employment Agreement”). Under the terms of the MacCallum Employment Agreement, Mr. MacCallum is entitled to receive $307,500 annually