Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 377

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 377
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ude, in East Asian Studies from Harvard University and an M.B.A. from Harvard Business School. 236 Number and Terms of Office of Officers and Directors Emerald has six directors. The board of directors is divided into two classes with only one class of directors being elected in each year and each class serving a two -yearterm. Emerald officers are appointed by the board of directors and shall hold office until their successors are duly elected and qualified by the board of directors or until their earlier death, resignation, retirement, disqualification, or removal from office. Any officer may be removed, with or without cause, at any time by the board of directors. The board of directors is authorized to appoint persons to the offices set forth in the bylaws as it deems appropriate. The bylaws provide that Emerald officers may consist of a Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President, Vice Presidents, Secretary, Treasurer, Assistant Secretaries and such other offices as may be determined by the board of directors. Director Independence Nasdaq listing standards require that a majority of the board of directors of a company listed on Nasdaq must be composed of “independent directors,” which is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship, which, in the opinion of the company’s board of directors, would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. We have determined that Tensie Whelan, Andrew Hohns, Therese Rein and Lisa Shalett are independent directors under the Nasdaq listing standards and Rule 10A -3of the Exchange Act. Executive Officer and Director Compensation None of Emerald’s officers or directors have received any compensation for services rendered to Emerald. Until the earlier of consummation of Emerald’s initial business combination and our liquidation, it will pay the Sponsor or its designee a total of $30,000 per month for office space, administrative and shared personnel support services. The Sponsor has allocated 20,000 Founder Shares to each independent director. The Sponsor, Emerald’s officers and directors, or entities with which they are affiliated, will be reimbursed for any out -of-pocketexpenses incurred in connection with activities on Emerald’s behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Conflicts of Interest In general, officers and directors of a Delaware corporation are required to present business opportunities to the corporation if: •the corporation could financially undertake the opportunity; •the opportunity is within