Company: APCXW
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001683168-25-002670
Chunk: 34

Company: AppTech Payments Corp.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 34
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 with, holders of such awards may be taxed earlier than
would otherwise be the case (e.g., at the time of vesting instead of the time of payment) and may be subject to an additional 20% penalty
tax (and, potentially, certain interest penalties and additional state taxes). To the extent applicable, the 2025 Plan and awards granted
under the plan are intended to be structured and interpreted in a manner that either complies with or is exempt from Section 409A of the
Code and the Department of Treasury regulations, as well as other interpretive guidance that may be issued under Section 409A of the Code.
To the extent determined necessary and appropriate by the Committee, the 2024 Plan and applicable award agreements may be amended to further
comply with Section 409A of the Code or to exempt the applicable awards from Section 409A of the Code

Compensation of Covered Employees.
The ability of AppTech to obtain a deduction for amounts paid under the 2025 Plan could be limited by Section 162(m) of the Code. Section
162(m) of the Code limits AppTech’s ability to deduct compensation, for federal income tax purposes, paid during any year to a “covered
employee” (within the meaning of Section 162(m) of the Code) in excess of $1,000,000.

Golden Parachute Payments.
The ability of AppTech (or the ability of one of its subsidiaries) to obtain a deduction for future payments under the 2025 Plan could
also be limited by the golden parachute rules of Section 280G of the Code, which prevent the deductibility of certain “excess parachute
payments” made in connection with a change in control of an employer-corporation.

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Required Vote and Recommendation of the Board for Proposal 4

The affirmative vote of a
plurality of the votes cast at the Annual Meeting is required for the approval of the AppTech 2025 Equity Incentive Plan. Should the proposal
receive more votes FOR than AGAINST among votes properly cast at the Annual Meeting, Proposal 4, approving the AppTech 2025
Equity Incentive Plan, shall be passed. Shares represented by signed proxy cards and ballots submitted via the Internet at the Annual
Meeting will be voted on Proposal 4 FOR the approval of the Amended Equity Incentive Plan unless otherwise marked on the proxy
card or ballot, respectively. A broker non-vote or a properly executed proxy