Company: JUPGF
Filing Date: 2025-08-27
Form Type: DRS/A
Source: 0001493152-25-012379
Chunk: 202

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-27
Form: DRS/A
Chunk 202
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 equivalent, does not, of itself, create a presumption that the person did not act in good faith and in a manner
that they reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action
or proceeding, had reasonable cause to believe that their conduct was unlawful.

In addition, under Section 60 of the BCA and
under the registrant’s Bylaws, a corporation may indemnify any person who was or is a party, or is threatened to be made a party,
to any threatened, pending, or completed action or suit by or in the right of the corporation to procure judgment in its favor by reason
of the fact that they are or were a director or officer of the corporation, or are or were serving at the request of the corporation as
a director or officer of another corporation, partnership, joint venture, trust or other enterprise. Such indemnification may be made
against expenses (including attorneys’ fees) actually and reasonably incurred by such person in connection with the defense or settlement
of such action or suit if they acted in good faith and in a manner they reasonably believed to be in or not opposed to the best interests
of the corporation. Again, this is provided that no indemnification may be made in respect of any claim, issue or matter as to which such
person shall have been adjudged to be liable to the corporation unless and only to the extent that the court in which such action or suit
was brought shall determine upon application that, despite the adjudication of 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