Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1443

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 1443
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 Huang $60,000 per annum as Chief Financial Officer of the
Company. In connection with a change in senior management of the Company, Mr. Huang’s base salary was increased to $600,000, with
such compensation commencing on March 10, 2023. The agreement is for a term of two (2) years and will renew automatically for one-year
terms when not terminated by either party. Mr. Huang is eligible for bonuses as determined by the Board and eligible to participate in
equity incentive plans of the Company. The Company shall also reimburse Mr. Huang for reasonable and approved expenses incurred by him
in connection with the performance of his duties under his employment agreement. Mr. Huang is subject to a one-year non-competition and
non-solicitation covenant from the date of termination of employment for any reason. The Company and Mr. Huang also entered into a director
agreement on October 28, 2022, pursuant to which the Company agreed to pay Mr. Huang one thousand (US$1,000) dollars per quarter for serving
on the Board. The Company shall also reimburse Mr. Huang for reasonable and approved expenses incurred by him in connection with the performance
of his duties under his director agreement. Under the director agreement, Mr. Huang is subject to a one-year non-competition covenant
and a three-year non-solicitation covenant. Mr. Huang has no family relationship with any of the executive officers of the Company.

Sam Tabar

Mr. Tabar has been employed under a two-year Employment
Agreement, effective March 31, 2021, on substantially the same terms as the Employment Agreement described above for Mr. Bullett. He too
was compensated at a base salary of $125,000 per annum during 2021. Pursuant to an amendment dated January 1, 2022, Mr. Tabar’s
base salary was increased to $500,000 commencing January 1, 2022 through the end of the two-year term. He was awarded 120,765 RSUs under
his Employment Agreement pursuant to the terms and conditions of the 2021 Omnibus Equity Incentive Plan. 

112

Pursuant to a second amendment to the Employment
Agreement dated March 31, 2023, the Company extended the term of the Employment Agreement for an additional two years with Mr. Tabar assuming
the role of Chief Executive Officer. Mr. Tabar’s salary remains $500,000