Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 266

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 266
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 under the 2025 Plan) relating to the operation and administration of the 2025 Plan to facilitate compliance with requirements of local law and procedures outside the United States (provided that board of directors approval will not be necessary for immaterial modifications to the 2025 Plan or any grant agreement made to ensure or facilitate compliance with the laws or regulations of the relevant foreign jurisdiction); delegate any of the foregoing to one or more persons pursuant to a specific delegation as permitted by the terms of the 2025 Plan and applicable law, including Section 157(c) of the Delaware General Corporation Law; and make all other determinations necessary or advisable in connection with the administration of the 2025 Plan. Gryphon expects that the Compensation Committee of the Combined Company Board will administer the 2025 Plan. Amendment of the 2025 Plan The Administrator may amend the 2025 Plan or any grant in any respect the Administrator deems necessary or advisable, subject to the limitations of applicable law and the 2025 Plan. If required by applicable law, the Combined Company will seek stockholder approval of any amendment of the 2025 Plan that (a) materially increases the number 141 of shares available for issuance under the 2025 Plan (excluding any adjustment upon certain changes in the Combined Company’s capitalization); (b) materially expands the class of individuals eligible to receive grants under the 2025 Plan; (c) materially increases the benefits accruing to grantees under the 2025 Plan; (d) materially reduces the price at which shares may be issued or purchased under the 2025 Plan; (e) materially extends the term of the 2025 Plan; (f) materially expands the types of grants available for issuance under the 2025 Plan; or (g) as otherwise required by applicable law. Shares Available for Issuance Subject to adjustment upon certain changes in the Combined Company’s capitalization and the automatic increase (described below), the total number of shares reserved and available for issuance pursuant to the 2025 Plan (the “ Share Reserve”) will not exceed 20% of the total number of issued and outstanding fully diluted shares of Combined Company Common Stock as of immediately after the Closing. The Share Reserve will automatically increase on January 1 stof each year, for a period of not more than ten years, commencing on January 1, 2026 and ending on (and including) January 1, 2035 by the lesser of (a) a number of shares of Combined Company Common