Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 308

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 308
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 vest as to one -third(1/3 rd) of the RSUs (rounded down to the nearest whole share) (x) on each of the first two anniversaries of the grant date and (y) upon the Company’s remediation of certain stock exchange listing qualification failures that exist as of the effective date of the Gutterman Agreement and (F) eligibility to participate in customary health, welfare and fringe benefit plans Gryphon provides to employees. The Gutterman Agreement also provides Mr. Gutterman with the opportunity to earn an “incentive award” (as defined in his employment agreement) upon attainment of certain Gryphon stock price and market capitalization goals. Based on Gryphon’s stock price and market capitalization on May20, 2025, no portion of the incentive award is expected to vest or become payable in connection with the Mergers and Mr.Gutterman’s right to receive the incentive award will terminate in connection with a termination of his employment. All bonuses payable under the Gutterman Agreement, except the stock bonus, may be paid in cash, Bitcoin, Company equity or a mix of any of the foregoing.

168 Under the Gutterman Agreement, Mr. Gutterman will be entitled to receive the following severance payments and benefits upon a termination of his employment by the Company without “cause” or by Mr. Gutterman for “good reason” (each, as defined in the Gutterman Agreement and collectively, a “ Qualifying Termination”), that does not occur in connection with a change in control: (i) the Accrued Obligations (as defined in the Gutterman Agreement), (ii) Mr. Gutterman’s annual base salary and (iii) the product of (x) 12 and (y) Mr. Gutterman’s monthly cost for health and welfare benefits pursuant to his elections under the Company’s health and welfare benefit plans, as in effect on the termination date (collectively, the “ Non -CIC Severance”). The Non -CICSeverance will be paid in a lump sum as soon as practicable following the effective date of a release but no later than 74 days following Mr. Gutterman’s termination. If Mr. Gutterman incurs a Qualifying Termination within 30 days prior to or 12 months following a change in control, then in addition to the Non -CICSeverance, Mr. Gutterman will be entitled to the following: (i