Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 915

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 915
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 and below, each of our officers and directors presently has, and any of them in
the future may have additional, fiduciary, contractual or other obligations or duties to one or more other entities, pursuant to which
such officer or director is or will be required to present a business combination opportunity to such entities. Accordingly, if any of
our officers or directors becomes aware of a business combination opportunity which is suitable for one or more entities to which he
or she has fiduciary, contractual or other obligations or duties, he or she will honor these obligations and duties to present such business
combination opportunity to such entities first, and only present it to us if such entities reject the opportunity and he or she determines
to present the opportunity to us. These conflicts may not be resolved in our favor and a potential target business may be presented to
another entity prior to its presentation to us. In addition to the above, directors also owe a duty of care, which is not fiduciary in
nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and
experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation
to the company and the general knowledge, skill and experience which that director has.

As set out above, directors
have a duty not to put themselves in a position of conflict and this includes a duty not to engage in self-dealing, or to otherwise benefit
as a result of their position. However, in some instances what would otherwise be a breach of this duty can be forgiven and/or authorized
in advance by the stockholders; provided that there is full disclosure by the directors. This can be done by way of permission granted
in the amended and restated certificate of incorporation or alternatively by stockholder approval at stockholder meetings.

All of our officers have
fiduciary and contractual duties to our sponsor and to certain companies in which it has invested or to certain other entities. While
the risk is partially mitigated as a result of our sponsor seeking targets of different enterprise sizes than us, if these entities decide
to pursue any such opportunity, we may be precluded from pursuing such opportunities. None of the members of our management team who
are also employed by our sponsor or its affiliates have any obligation to present us with any opportunity for a potential business combination
of which they become aware, subject to his or her fiduciary duties under applicable law. Our sponsor and directors