Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 319

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 319
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 amount is subject to a release of claims and is payable in a lump sum as soon as practicable following the effective date of the release. Sim Salzman The cash amount disclosed for Mr. Salzman is a single trigger amount payable pursuant to his employment agreement and presumes Mr. Salzman incurs a termination for “good reason” or without “cause” (each as defined in his employment agreement). Upon such a termination, then subject to Mr. Salzman’s execution and non-revocation of a release of claims, Gryphon would pay him an amount equal to the sum of (A) twelve months of his base salary ($275,000), plus (B) Mr. Salzman’s annual bonus target ($137,500), with such amount being paid in twelve equal installments in accordance with Gryphon’s regular payroll schedule, beginning on the first payroll date following the date the release of claims becomes effective. Eric Gallie The cash amount disclosed for Mr. Gallie is a single trigger amount payable pursuant to his employment agreement and presumes Mr. Gallie is terminated without “cause” (as defined in Gryphon’s equity plan). In such a case, Mr. Gallie will receive one year of his base salary ($250,000), which is payable in substantially equal installments following his termination date, subject to his execution and non-revocation of a release of claims. (2)Equity Amounts Steve Gutterman The equity amount disclosed for Mr. Gutterman is a double trigger arrangement that is also payable pursuant to his employment agreement and upon a qualifying termination in connection with the Mergers (within thirty days prior to or twelve months following), in which case Mr. Gutterman is entitled to pro-rata acceleration of each outstanding equity award based on the number of days employed in the vesting period, with performance goals, if any, deemed achieved at target. The value of Mr. Gutterman’s accelerating restricted stock units is shown in the table above. The equity acceleration is also subject to a release of claims and would become effective following the effective date of the release. Pursuant to Mr. Gutterman’s employment agreement, he is entitled to receive an “incentive award” (as defined in his employment agreement) upon the attainment of certain Gryphon stock price and market capitalization goals. Based on Gryphon’s stock price and market capitalization on May 20, 2025, no portion of the incentive award is expected to vest or become payable in connection with the M