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  "documentTitle": "BlockFi | Investor Presentation Deck | 27 slides",
  "authorId": "blockfi",
  "authorName": "BlockFi",
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  "presentationDate": "2023-01-01 00:00:00",
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      "text": "Third, BlockFi historically timed compensation raises with material capital markets activity and fundraising. The massive impact of the FTX transaction on management equity led BlockFi's board of directors to, among other things, increase base salaries and make retention payments to ensure business-critical knowledge and capabilities were maintained.",
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      "text": "Second, the board approved a retention program offering key employees the opportunity to earn cash payments of up to 50% of their base salary if: (a) they stayed at BlockFi through February 2023; and (b) BlockFi met certain company-wide goals. The retention program, however, was discontinued upon BlockFi's chapter 11 filing, and no payments were made (or will be made) to insiders thereunder.",
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      "text": "First, several members of BlockFi's management team had paid out of pocket for, or otherwise financed, shares or options rendered worthless by the FTX transaction. BlockFi funded one-time payments to effectively return the funds it had received and make certain employees whole.",
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