Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 31

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 31
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 $5.00 based on 30-day VWAP   $500 Million   300% of Base Salary  Tranche 4   $10.00 based on 30-day VWAP   $1 Billion   500% of Base Salary 

No Incentive Bonus tranche will become payable
unless both the stock price goal and the market capitalization goal (“Goals’) for the applicable tranche are satisfied, and
the market capitalization goal is attained simultaneously with the stock price goal. Additionally, the Incentive Bonus may be earned in
a change in control if the consideration paid per share of Company common stock exceeds an Incentive Bonus tranche stock price goal and
the total value received in the transaction exceeds an Incentive Bonus tranche market capitalization goal. Under no circumstances may
the performance goals for an Incentive Bonus tranche be achieved more than one time. The Incentive Bonus, to the extent any tranche becomes
payable, will be paid within thirty days of the attainment of the applicable goals, subject to Mr. Gutterman remaining in continuous employment
with the Company through each payment date. The Company will continue to evaluate the probability of the CEO’s achievement of the
Goals. As of June 30, 2025, the Company had not accrued for the Incentive Bonus.

All bonuses payable under the CEO Agreement, except
the stock bonus, may be paid in cash, Bitcoin, Company equity, or a mix of any of the foregoing.

Under the CEO Agreement, Mr. Gutterman will be
entitled to receive the following severance payments and benefits upon a termination of his employment by the Company without “cause”,
by Mr. Gutterman for “good reason” (each, as defined in the CEO Agreement and collectively, a “Qualifying Termination”),
that does not occur in connection with a change in control:

(1)the Accrued Obligations (as
defined in the CEO Agreement),

(2)Mr. Gutterman’s annual
base salary, and

(3)the product of (x) 12 and (y)
Mr. Gutterman’s monthly cost for health and welfare benefits pursuant to his elections under the Company’s health and welfare
benefit plans, as in effect on the termination date (collectively, the “Non-CIC Severance”)

The Non-CIC Severance will
be paid in a lump sum as soon as practicable following the effective date of