Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 771

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 3
Chunk 771
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 to participate in our employee benefit plans. Pursuant to his offer letter, if Mr. Reeves’
employment is terminated by us without “cause” or he resigns for “good reason” (each such term as defined in the
offer letter) then, subject to his timely execution and non-revocation of a release of claims in favor of Fold, Mr. Reeves is eligible
to receive a cash severance payment equal to 12 months of base salary, payable in a lump sum.

Offer Letters for Mr. Repass and Ms. Goncalves

Fold is party to offer letters with each of Mr.
Repass and Ms. Goncalves, which set forth the terms and conditions of employment for each such executive, including base salary, their
initial Fold RSU Awards and eligibility to participate in our employee benefit plans. Such offer letters do not provide for severance.

89

Director Compensation

Fold has not historically maintained a formal non-employee
director compensation program, and none of Fold’s non-employee directors received compensation from Fold for their service on the
board of directors in 2024.

In connection with the Business Combination, we
approved a compensation program for our non-employee directors (the “Director Compensation Program”), which became effective
as of the closing of the Business Combination. The material terms of the Director Compensation Program are summarized below.

Cash Compensation

Under the Director Compensation Program, non-employee
directors serving on the Board are entitled to cash compensation in the following amounts:

●Annual Retainer: $40,000

●Additional Annual Retainer for Non-Executive Chair: $50,000

●Additional Annual Retainer for Lead Independent Director:
$25,000

●Annual Committee Chair Retainers:

●Audit Committee: $20,000

●Compensation Committee: $15,000

●Nominating and Corporate Governance Committee: $10,000

●Annual Non-Chair Committee Member Retainers:

●Audit Committee: $10,000

●Compensation Committee: $7,500

●Nominating and Corporate Governance Committee: $5,000

Annual cash retainers will be paid in quarterly
installments in arrears and will be pro-rated for any partial calendar quarter of service.

Equity Compensation

Under the Director Compensation Program, each non-employee
director who is serving on the Board as of the date of each annual meeting of the Company’s stockholders will be granted, on such
annual meeting