Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 2441

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 8
Chunk 2441
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 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 and his equity award compensation remains as pursuant to
his original employment agreement and the 2021 Omnibus Equity Incentive Plan. The second amendment also provided that the Employment Agreement
will not be terminated by the Company at any time prior to the end of the Initial two -year Term except for Cause (as defined). In the
event that Mr. Tabar’s employment is terminated by the Company without Cause commencing two (2) years from the date of the Amendment,
or at any time by Mr. Tabar for Good Reason, or as a result of expiration of the Employment Period by reason of the Company’s issuance
of a Non-Renewal Notice, the Company shall pay and/or provide Mr. Tabar with a single lump sum cash amount on the next regularly scheduled
payroll date following Executive’s date of termination, in an amount equal to the number of years employed by the Company (or fraction
thereof) plus two (2) multiplied by one (1) month of Base Salary with a minimum of six (6) months Base Salary at all times during the
Employment Period.

Mr. Tabar has agreed to hold, both during and
after the termination or expiry of his employment