Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 48

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4A
Chunk 48
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 to 6% of eligible compensation and earn a pro-rated annual bonus equal to up to 100% of his annual base salary for the portion of the year that he serves as Interim Chief Executive Officer, and a pro-rated annual bonus equal to up to 65% of his annual base salary for the portion of the year he serves as Chief Financial Officer, as determined by the board of directors. In addition, Mr. MacCallum was awarded 1,500,000 RSU’s which vested upon his return to his role as Chief Financial Officer.

Under the 2025 MacCallum Employment Agreement, we may terminate Mr. MacCallum’s employment by providing Mr. MacCallum 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, (iv) vacation pay, and (v) other entitlements, if any, as required by the ESA, and in each case, subject to payment of severance equal to 12 months’ base salary, provided that we may terminate the services of Mr. MacCallum at any time with immediate effect for certain reasons including misconduct, criminal offense, or other reasons “for cause” under ESA within the Province of British Columbia. Mr. MacCallum may terminate his contract with us by providing the Company with a minimum of 90 days’ notice. The 2025 MacCallum Employment Agreement also contains restrictive covenants pursuant to which Mr. MacCallum has agreed to refrain from 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.

Table of Contents

Non-Executive Director Letter Agreements

We have entered into service contracts with our directors for their services, which are subject to a three-month termination period. There are no arrangements under which any non-executive director is entitled to receive compensation upon the early termination of his or her appointment.

Equity Compensation Arrangements

We have granted and expect to continue to grant share options and other awards under our 2022 Equity Incentive Plan (the“2022 Plan”). We previously granted share options and awards under our 2018 Equity Incentive Plan (the“2018 Plan”), including the UK Non-Tax Advantaged Sub-Plan maintained under the 2018 Plan (the“UK Sub-Plan”) and our 2021 U. S