Company: CLSKW
Filing Date: 2025-09-08
Form Type: 8-K
Source: 0000950170-25-113381
Chunk: 2

Company: CLEANSPARK, INC.
Filing Date: 2025-09-08
Form: 8-K
Item: Item 5.02
Chunk 2
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,000             429,515  
  Scott E. Garrison                   $600,000      up to 150%                                                            $900,000             396,476  
  Taylor Monnig                       $600,000      up to 150%                                                            $900,000             396,476  
  Brian J. Carson                     $425,000      up to 75%                                                             $318,750             280,837  

In addition, Mr. Schultz will receive 1.2 bitcoin per month. The other Executives will receive their pro rata share of a bitcoin pool of 1.247 bitcoin per month established by the Company. Such Executive’s pro rata share will be calculated by multiplying the monthly bitcoin pool by a fraction, the numerator of which is the amount of base salary paid to the Executive for the applicable month and the denominator of which is the sum of base salaries paid to all participants in the bitcoin pool for such month, as approved by the Board (or a committee thereof). The bitcoin compensation described above will be adjusted for halving, and will cease if the Company no longer mines bitcoin.

The Employment Agreements can be terminated (i) for cause by the Company, (ii) by the Company for any reason (other than for cause), (iii) by the Executive without good reason upon 30 days’ advance prior written notice (which the Company may accelerate), or (iv) by the Executive for good reason after having notified the Company of the event alleged to constitute good reason and providing the Company an opportunity to cure such event for a period of 30 days. Furthermore, the Executive, (i) upon termination of the Executive by the Company for cause or his resignation without good reason, or upon termination of the Executive’s Employment Agreement upon death or disability, will be entitled to receive the accrued and unpaid portion of his base salary, the Executive’s applicable bitcoin payment for that month, any reimbursement for business travel and other expenses to which he is entitled under the Employment Agreement, a lump sum payment for any accrued but unused PTO and such employee benefits (including equity compensation), if any, to which the Executive may be entitled under the Company’s employee benefit plans as of the date of the Executive’s termination; and (ii) upon termination by the Company other than for “cause” or the Executive’s resignation for “good reason,” upon signing and returning an effective release of claims, shall be entitled to receive (w) severance equal to twelve months base salary, paid over twelve months,