Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 309

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 309
---
 a summary of the expected material terms of the ESPP. A copy of the ESPP is attached to this proxy statement/prospectus as Annex E. Purpose of the ESPP The purpose of the ESPP is to assist employees of New Fold and its participating subsidiaries in acquiring an ownership interest in New Fold through accumulated payroll deductions. New Fold believes that the ESPP is a key factor in retaining its existing employees, recruiting and retaining new employees and aligning the interests of its employees with those of New Fold’s stockholders. Summary of the ESPP The following summarizes the expected material terms of the ESPP. This summary is qualified in its entirety by reference to the full text of the ESPP. The ESPP is comprised of two distinct components in order to provide increased flexibility to grant purchase rights under the ESPP to U.S. and any non -U.S. employees. Specifically, the ESPP authorizes (i) the grant of purchase rights to U.S. employees that are intended to qualify for favorable U.S. federal tax treatment under Section 423 of the Code (the “Section 423 Component”) and (ii) the grant of purchase rights that are not intended to be tax -qualifiedunder Section 423 of the Code to facilitate participation for any employees located outside of the United States who do not benefit from favorable U.S. tax treatment and to provide flexibility to comply with non -U.S. law and other considerations (the “Non -Section423 Component”). Where possible under local law and custom, New Fold expects that the Non -Section423 Component generally will be operated and administered on terms and conditions similar to the Section 423 Component. Administration. The Compensation Committee of the New Fold Board, or any other committee to whom the New Fold Board delegates such power or authority, will serve as the administrator of the ESPP. The plan administrator may delegate administrative tasks under the ESPP to agents or employees to assist in the administration of the ESPP. Subject to the terms and conditions of the ESPP, the plan administrator has the authority to determine when rights to purchase shares will be offered and the provisions of each offering under the ESPP, to determine which subsidiaries will participate as “designated subsidiaries” in the ESPP (including in the Non -Section423 and the Section 423 Components), and to make all other determinations and to take all other actions necessary or advisable for the administration of the ESPP. The plan administrator is also authorized to establish, amend or revoke rules relating to administration of the ESPP and to adopt annex