Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 45

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4A
Chunk 45
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 directors during the fiscal year ended December31, 2024:

                                   DIRECTOR FEES  
  NAME AND PRINCIPAL POSITION      ($)            
  Non-Executive Directors(1)                      
  Mathew Shaw                      146,476        
  Raghav Chopra                    147,048        
  Maria Perrella                   129,909        

  (1)      We reimburse all reasonable expenses incurred by non-employee directors in connection with their service on our board of directors. This would include expenses incurred for attending board or c...  

Executive Officer Service Agreements

Thomas Chippas

Effective as of November 27, 2023, we entered into an employment contract with Thomas Chippas, pursuant to which Mr. Chippas served as our Chief Executive Officer and as an Executive Director (the “ Chippas Employment Agreement”). Under the terms of the Chippas Employment Agreement, Mr. Chippas was entitled to receive $400,000 annually, participate in the Company’s group health benefits on a 90% subsidized basis, participate in the Company’s 401k plan, under which the Company provided an employer matching contribution of up to 6% of eligible compensation, and earn an annual bonus equal to up to 100% of his annual base salary, as determined by the board of directors. In addition, at the time of his appointment, Mr. Chippas was awarded 2,850,000 ADSs, which were to vest over three years (with a one year initial cliff) subject to certain performance conditions and continued employment.

Under the Chippas Employment Agreement, we could terminate Mr. Chippas’ employment by providing Mr. Chippas with the minimum (i) notice, or pay in lieu thereof, or some combination of the two, (ii) severance pay (if applicable), (iii) period of benefits continuation, and (iv) vacation pay, and in each case, subject to payment of severance equal to 12 months’ base salary, provided that we could terminate the services of Mr. Chippas at any time with immediate effect for certain reasons including misconduct, criminal offense, or other reasons “for cause”. Mr. Chippas could terminate his contract with us by providing the company with a minimum of 60 days’ notice. The Chippas Employment Agreement also contains restrictive covenants pursuant to which Mr. Chippas has agreed to refrain from competing with us or soliciting certain clients or employees of the Company who could materially damage