Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 29

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 29
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 to such conversion or exercise without the approval of the Company’s stockholders,
for which the Company is required to seek such approval at its next annual meeting of stockholders.

See Note 11 - Subsequent Events for principal payments made subsequent
to June 30, 2025.

NOTE 8 - COMMITMENTS AND CONTINGENCIES

Commitments

Board Member Compensation

On October 31, 2024, the Company’s Board of Directors approved
the director’s compensation program, as follows:

    Element 
    Amount 
  
    Annual equity award 
    $160,000 
  
    Annual board cash retainer 
    $60,000 
  
    Annual Audit Committee Member Retainer 
    $10,000 
  
    Annual Compensation Committee Member retainer 
    $7,500 
  
    Annual Nominating/Governance Committee Member Retainer 
    $7,500 
  
    Annual Board Chair Additional retainer 
    $40,000 
  
    Annual Audit Chair Additional retainer 
    $20,000 
  
    Annual Compensation Chair Additional retainer 
    $15,000 
  
    Annual Nominating/Governance Chair Additional retainer 
    $15,000 

The cash retainers will be paid monthly in arrears.

The annual equity award will be in the form of
restricted stock units (“RSUs”). The number of RSUs to be granted shall be determined by dividing the dollar amounts stated
above by the volume-weighted average price (“VWAP”) of the Company’s common stock over the forty-five (45) trading days
immediately preceding (but not including) the Grant Date, rounded to the nearest whole RSU.

Subject to each grantee’s
continued service with the Company through the applicable vesting date, the awards made hereunder shall vest as to one-fourth (1/4) of
the RSUs subject to each award (rounded down to the nearest whole share) upon the first four (4) quarterly anniversaries dates.

Employment Agreements

CEO Agreements

On September 30, 2024, the
grant date, the Company’s board of directors approved the issuance of the RSUs, pursuant to the CEO Agreement. The Company relied
on guidance set by FASB Accounting Standards Update No. 2021-07 (issued and updated on October 2021) related to Compensation - Stock Compensation
(“Topic 718”) to determine the impact on the Company. The grant date