Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 2916

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 9
Chunk 2916
---
 compensated at a base salary of $125,000 per annum during 2021. Pursuant to an amendment dated January 1, 2022, Mr. Tabar’s
base salary was increased to $500,000 commencing January 1, 2022 through the end of the two-year term. He was awarded 120,765 RSUs under
his Employment Agreement pursuant to the terms and conditions of the 2021 Omnibus Equity Incentive Plan. 

112

Pursuant to a second amendment to the Employment
Agreement dated March 31, 2023, the Company extended the term of the Employment Agreement for an additional two years with Mr. Tabar assuming
the role of Chief Executive Officer. Mr. Tabar’s salary remains $500,000 and his equity award compensation remains as pursuant to
his original employment agreement and the 2021 Omnibus Equity Incentive Plan. The second amendment also provided that the Employment Agreement
will not be terminated by the Company at any time prior to the end of the Initial two -year Term except for Cause (as defined). In the
event that Mr. Tabar’s employment is terminated by the Company without Cause commencing two (2) years from the date of the Amendment,
or at any time by Mr. Tabar for Good Reason, or as a result of expiration of the Employment Period by reason of the Company’s issuance
of a Non-Renewal Notice, the Company shall pay and/or provide Mr. Tabar with a single lump sum cash amount on the next regularly scheduled
payroll date following Executive’s date of termination, in an amount equal to the number of years employed by the Company (or fraction
thereof) plus two (2) multiplied by one (1) month of Base Salary with a minimum of six (6) months Base Salary at all times during the
Employment Period.

Mr. Tabar has agreed to hold, both during and
after the termination or expiry of his employment agreement, in strict confidence and not to use, except as required in the performance
of his duties in connection with the employment or pursuant to applicable law, any of our confidential information or trade secrets, any
confidential information or trade secrets of our clients or prospective clients, or the confidential or proprietary information of any
third party received by us and for which we have confidential obligations. Mr. Tabar has also agreed to assign all right, title and interest
(including but not limited to patents and trademarks