Company: FLDDW
Filing Date: 2025-05-28
Form Type: 424B3
Source: 0000950170-25-078327
Chunk: 3

Company: Fold Holdings, Inc.
Filing Date: 2025-05-28
Form: 424B3
Chunk 3
---
: (i) continued payment of Mr. McManus’s base salary for nine months following the Qualifying Termination; (ii) Company-subsidized COBRA continuation for Mr. McManus and his covered dependents for up to nine months following the Qualifying Termination; and (iii) each outstanding Company equity award held by Mr. McManus as of the date of the Qualifying Termination will be treated in accordance with the terms and conditions of the applicable Company equity plan and award agreement governing such equity award.

In the event of Mr. McManus’s Qualifying Termination during the 12-month period following the consummation of a “change in control” of the Company (as defined in the 2025 Incentive Award Plan or successor equity incentive plan) or, solely if such Qualifying Termination is at the request of the acquirer in the change in control or otherwise related to the change in control, during the three-month period prior to the consummation of such change in control, Mr. McManus will be eligible to receive the following payments and benefits (in lieu of the payments and benefits described above): (i) an amount equal to 12 months of base salary, payable in a lump sum; (ii) Company-subsidized COBRA continuation for Mr. McManus and his covered dependents for up to 12 months following the Qualifying Termination; (iii) an amount equal to 100% of Mr. McManus’s target annual cash performance bonus for the Company fiscal year in which such Qualifying Termination occurs, payable in a lump sum; and (iv) except to the extent that the applicable Company equity plan or award agreement governing an equity award provides otherwise, full accelerated vesting of outstanding and unvested Company equity awards, with any performance goals applicable to such equity awards deemed achieved at target performance.

Mr. McManus’s right to receive the applicable severance payments and benefits is subject to his execution, delivery, and, as applicable, non-revocation of a general release of claims in favor of the Company and its affiliates, and continued compliance with any applicable restrictive covenants. Additionally, if any payments under the Executive Severance Plan, together with any other amounts paid to Mr. McManus, would subject Mr. McManus to an excise tax under Section 4999 of the Internal Revenue Code, such payments will be reduced to the extent that such reduction would produce a better net