Exhibit 10.21
AMENDED AND RESTATED
PROFESSIONAL SERVICES AGREEMENT
This Professional Services Agreement (this “Agreement”) is made and entered into, and effective as of March 1, 2026 (the “Effective Date”), by and between Riot Cayman, a limited company organized under the laws of the Cayman Islands, for itself and its affiliate, Riot Platforms, Inc., a Nevada corporation, (“Riot” or the “Company”) and Clear Capital Management Corporation, a personal services corporation organized under the federal laws of Canada, (the “Consultant”) with offices located at [•]. Consultant and the Company are sometimes referred to herein collectively as the “Parties” and each, individually, as a “Party” to this Agreement.
WHEREAS, Consultant is a personal services corporation specializing in providing financial and industrial advisory services, and Company is a publicly traded developer and operator of large-scale data centers (including its existing business segment of Bitcoin mining) in the United States; and
WHEREAS, pursuant to that certain Professional Services Agreement, dated effective as of April 12, 2022, (the “Original Agreement”) as amended by that certain Amended and Restated Professional Services Agreement, dated effective as of April 12, 2025, (the “Amendment”), each by and between the Consultant and the Company (the Original Agreement, as amended by the Amendment, is referred to herein as the “Existing Agreement”), Consultant has agreed to serve as the Company’s Chief Financial Officer (“CFO”); and
WHEREAS, effective as of March 1, 2026, Consultant intends to step down as the Company’s CFO and agreed to continue as a senior advisor (“Senior Advisor”) to assist with the CFO transition, as well as assist on other management operational matters, as may be requested by the Company.
NOW, THEREFORE, in consideration of the mutual covenants, promises, and obligations contained herein, and for other good and valuable consideration, the receipt and sufficiency of such consideration is hereby acknowledged, the Parties agree as follows:
| 1. | Position, Duties and Scope of Services. |
Page 2 of 17
The Company’s Chief Executive Officer and/or the Compensation and Human Resources Committee of its Board of Directors (the “Compensation Committee”) shall annually review and may, in their sole discretion, adjust Consultant’s Base Fee from time to time. Effective as of the date of any adjustment to Consultant’s Base Fee, this Agreement shall be amended automatically without further action or writing by the Parties such that the Base Fee stated herein reflects the new Base Fee established by the Company for all purposes of this Agreement.
Page 3 of 17
Page 4 of 17
Notwithstanding the foregoing, the Company may not terminate Consultant’s service under this Agreement for Cause under this Section 6.a without first providing Consultant written notice of the event or condition(s) constituting Cause. Such notice must be given no later than Thirty (30) days after the date on which the event or condition(s) constituting Cause is first reasonably discovered by the Board. Upon the giving of such notice, and only if the event or condition is reasonably capable of being remedied by Consultant, Consultant shall have a period of Thirty (30) days during which Consultant may remedy the event or condition(s) and, if so remedied, the Company may not terminate Consultant’s service under this Agreement for Cause for the event or condition that was remedied.
Page 5 of 17
Notwithstanding the foregoing, Consultant may not terminate Consultant’s service under this Agreement for Good Reason without first providing the Company advanced written notice of the event(s) and/or condition(s) constituting Good Reason, which notice must be given no later than Thirty (30) days after the date on which the event(s) and/or condition(s) constituting Good Reason first occurs. Upon the Company’s receipt of such notice, the Company shall then have Thirty (30) days during which it may remedy the event(s) and/or condition(s) (the “Company Notice Period”) and, if so remedied, Consultant may not terminate their service under this Agreement for Good Reason. If Consultant fails to comply with the immediately preceding two sentences of this Section 6.c, such termination shall not be considered a termination for Good Reason. If the Company fails to cure the event(s) and/or conditions during the Company Notice Period, then the termination shall occur Thirty (30) days after the expiration of the Company Notice Period unless the Company, in its sole discretion, chooses to advance Consultant’s termination date to an alternate termination date of the Company’s own choosing.
Page 6 of 17
Page 7 of 17
Notwithstanding any of the foregoing, however, in any circumstance or transaction in which compensation resulting from or in respect a Change in Control would result in the imposition of an additional tax under Section 409A of the Internal Revenue Code of 1986, as amended, (the “Code”) were to apply, but would not result in the imposition of any additional tax if the term “Change in Control” were defined herein to mean a “change in control event” within the meaning of Section 1.409A-3(i)(5) of the Treasury Regulations promulgated under the Code, as amended, (the “Treasury Regulations”) then “Change in Control” shall mean a “change in control event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5), but only to the extent necessary to prevent such compensation from becoming subject to an additional tax under Section 409A of the Code (“Section 409A”).
Page 8 of 17
Page 9 of 17
Page 10 of 17
Page 11 of 17
Page 12 of 17
Page 13 of 17
Page 14 of 17
Page 15 of 17
Page 16 of 17
[Signature Page to Riot Platforms, Inc. Professional Services Agreement]
IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this Professional Services Agreement, effective as of the Effective Date set forth herein.
Attachments/Exhibits:CNCA
Form of Severance Agreement
Page 17 of 17