Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 872

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 4
Chunk 872
---
 and a liquidity event vesting requirement. The service-based vesting condition is satisfied as to one-fourth
of the Fold RSUs on the first anniversary of the vesting commencing date and as to 1/48th of the Fold RSUs on each monthly
anniversary of the vesting commencement date thereafter, subject to the grantee’s continued service through the applicable vesting
date. The liquidity event vesting condition is satisfied upon the first to occur, on or prior to the seventh (7th) anniversary
of the grant date, of a change in control of Fold or an initial public offering of Fold’s common stock.

(4)Represents Fold RSUs that vest upon satisfaction of both a
service-based vesting requirement and a liquidity event vesting requirement. The service-based vesting condition is satisfied as to one-fourth
of the Fold RSUs on the first anniversary of the vesting commencing date and as to 1/48th of the Fold RSUs on each monthly
anniversary of the vesting commencement date thereafter, subject to the grantee’s continued service through the applicable vesting
date. The liquidity event vesting condition is satisfied upon the first to occur, on or prior to the seventh (7th) anniversary
of the grant date, of a change in control of Fold or an initial public offering of Fold’s common stock, subject to the grantee’s
continued service through the consummation of such change in control or initial public offering.

Executive Compensation Arrangements

Offer Letters

Offer Letter for Mr. Reeves

Fold is party to an offer letter, as amended, with
Mr. Reeves, which sets forth the terms and conditions of employment for Mr. Reeves, including base salary, his initial awards
of restricted Fold Common Stock and eligibility to participate in our employee benefit plans. Pursuant to his offer letter, if Mr. Reeves’
employment is terminated by us without “cause” or he resigns for “good reason” (each such term as defined in the
offer letter) then, subject to his timely execution and non-revocation of a release of claims in favor of Fold, Mr. Reeves is eligible
to receive a cash severance payment equal to 12 months of base salary, payable in a lump sum.

Offer Letters for Mr. Repass and Ms. Goncalves

Fold is party to offer letters with each of Mr.
Repass and