Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 2094

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 2094
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 of termination, (ii) his earned but unpaid annual performance
bonus for the calendar year preceding the date of termination based on actual attainment of the applicable performance objectives for
such year, (iii) his earned but unpaid annual performance bonus for the current calendar year based on actual attainment of the applicable
performance objectives for such year, which shall be paid in its entirety if the applicable performance objectives were achieved prior
to the date of termination, and which otherwise shall be pro-rated based on the ratio of the number of days employed during such year
to three hundred sixty-five (365) , (iv) his accrued but unused vacation days as of the date of termination, (v) reimbursement
for any unreimbursed business expenses incurred through the date of termination, and (vi) any other benefits or rights Mr. Belizaire
will have accrued or earned through his date of termination under the terms of any employee benefit plan. Additionally, if Mr. Belizaire
is terminated without Cause or he resigns for Good Reason, subject to satisfaction of certain release conditions, he will also be entitled
to coverage under the Company’s health insurance plan covering Mr. Belizaire for eighteen (18) months after the termination of
his employment, and six months of his Base Salary, paid in equal monthly installments on regular Company payroll dates over the six months
following such termination date.

John
Tunison

The
Company appointed John Tunison to serve as the Chief Financial Officer and Treasurer of the Company, effective as of March 29, 2024.
In connection with the Board’s appointment of Mr. Tunison as Chief Financial Officer, the Company and Mr. Tunison entered into
a three-year employment agreement (the “Employment Agreement”). The Employment Agreement provides for (i) an initial annual
base salary of $350,000 and a potential performance bonus of up to 50% of the base salary as well as severance and other standard employment
benefits (ii) an equity award in the form of restricted common stock under incentive equity plans maintained by the Company on the Company’s
standard form award agreements with a reference percentage of 2% and (iii) an equity award in the form of restricted preferred stock
under incentive equity plans maintained by the Company on the Company’s standard form award agreements for 25,000 shares.

Long-Term
Equity Incentive Compensation

Equity
awards typically take the form of stock options, restricted stock grants, or restricted stock units under our