Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 247

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 247
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 Rules”).

The Clawback Policy provides
for the mandatory recovery of erroneously awarded incentive-based compensation from current and former executive officers as defined
in Rule 10D-1 (“Covered Officers”) of the Company in the event that the Company is required to prepare an accounting
restatement, in accordance with the Final Clawback Rules. The recovery of such compensation applies regardless of whether a Covered Officer
engaged in misconduct or otherwise caused or contributed to the requirement of an accounting restatement. Under the Clawback Policy,
the Board of Directors may recoup from the Covered Officers erroneously awarded incentive compensation received within a lookback period
of the three completed fiscal years preceding the date on which the Company is required to prepare an accounting restatement.

Delinquent Section 16(a) Reports

Section 16(a) of the Exchange
Act requires our executive officers and directors and persons who beneficially own more than 10% of our common stock to file reports
of their ownership of, and transactions in, our common stock with the SEC and to furnish us with copies of the reports they file. Based
solely upon our review of the Section 16(a) filings that have been furnished to us, we believe that all required Section 16(a) were timely
filed during fiscal 2024, except that Mark Mathews, our General Counsel, failed to timely file his Form 3 initial statement of beneficial
ownership of securities.

ITEM 11. EXECUTIVE COMPENSATION

Executive Officer and Director Compensation

None of our officers has
received any cash compensation for services rendered to us. Commencing on the date of the IPO, we agreed to pay CO2 Energy Transition,
LLC, a Delaware limited liability company, our sponsor, a total of $10,000 per month for office space, utilities and secretarial and
administrative support. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees.
No compensation of any kind, including any finder’s fee, reimbursement, consulting fee or monies in respect of any payment of a
loan, will be paid by us to our sponsor, officers or directors or any affiliate of our sponsor, officers or directors, prior to, or in
connection with any services rendered in order to effectuate, the consummation of our initial business combination (regardless of the
type of transaction that it is). However, these individuals will be reimbursed for any out-of-pocket expenses incurred in connection
with activities on our