Company: JUPGF
Filing Date: 2025-05-02
Form Type: DRS
Source: 0001641172-25-008279
Chunk: 183

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-05-02
Form: DRS
Chunk 183
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 liability but in view of all the circumstances of the case,
such person is fairly and reasonably entitled to indemnity for such expenses that the court shall deem proper.

The registrant’s Bylaws further provide that
any indemnification pursuant to the foregoing (unless ordered by a court) may be made by the corporation only as authorized in the specific
case upon a determination that indemnification of the director or officer is proper in the circumstances because they have met the applicable
standard of conduct set forth above. Such determination may be made by the Board of Directors of the corporation by a majority vote of
a quorum consisting of directors who were not parties to any action, suit or proceeding referred to in the foregoing instances, by independent
legal counsel in a written opinion or by the stockholder of the corporation.

Further, and as provided by both the registrant’s
Bylaws and Section 60 of the BCA, when a director or officer of a corporation has been successful on the merits or otherwise in defense
of any action, suit or proceeding referred to in the foregoing instances, or in the defense of a related claim, issue or matter, they
will be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred by them in connection with such
matter.

Likewise, pursuant to the registrant’s Bylaws
and Section 60 of the BCA, expenses (such Bylaws specifically include attorneys’ fees in expenses) incurred in defending a
civil or criminal action, suit or proceeding by an officer or director may be paid in advance of the final disposition of the action,
suit or proceeding upon receipt of an undertaking by or on behalf of the director or officer to repay such amount if it is ultimately
determined that they are not entitled to indemnification. The Bylaws further provide that with respect to other employees, such expenses
may be paid on the terms and conditions, if any, as the Board may deem appropriate.

Both Section 60 of the BCA and the registrant’s
Bylaws further provide that the foregoing indemnification and advancement of expenses are not exclusive of any other rights to which those
seeking indemnification or advancement of expenses may be entitled under any bylaw, agreement, vote of shareholder or disinterested directors
or otherwise, both as to action in their official capacity and/or as to action in another capacity while holding office.

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Under both Section 60 of the BCA and the registrant’s
Bylaws, the registrant also has the power to purchase