Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 395

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 395
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employee director are assumed or substituted for in the merger or change in control and the service of such non-employee director is terminated (other than upon his or her voluntary resignation that does not include a resignation at the request of the acquirer) on or following the date of the merger or change in control, all such awards will fully vest, all restrictions on such awards will lapse, all performance goals or other vesting criteria applicable to such awards will be deemed achieved at 100% of target levels and such awards will become fully exercisable, if applicable, unless specifically provided otherwise under the applicable award agreement or other written agreement with the non-employee director authorized by the administrator.

Forfeiture and Clawback

Awards will be subject to any clawback policy which is in effect at grant and any other clawback policy that the Post-Closing Company is required to adopt pursuant to the listing standards of any national securities exchange or association on which the Post-Closing Company’s securities are listed or as is otherwise required by applicable laws. The administrator also may specify in an award agreement that the participant’s rights, payments and benefits with respect to an award will be subject to reduction, cancellation, forfeiture, recoupment, reimbursement, or reacquisition upon the occurrence of certain specified events. The administrator may require a participant to forfeit or return to the Post-Closing Company or reimburse the Post-Closing Company for all or a portion of the award and any amounts paid under the award in order to comply with any clawback policy of the Post-Closing Company as described in the first sentence of this paragraph or with applicable laws.

Amendment or Termination

The Incentive Plan will become effective upon the latest to occur of (1) the date of its initial adoption by the CCIX Board, (2) the date of its initial approval by CCIX shareholders, and (3) the Effective Time, and will continue in effect for a period of 10 years from its effectiveness, unless terminated earlier by the administrator. However, no incentive stock options may be granted after the 10-year anniversary of the earlier of the adoption of the Incentive Plan by the CCIX Board or the approval of the Incentive Plan by CCIX shareholders. We currently expect the actual effectiveness of the Incentive Plan will occur as of the Effective Time (subject to approval by the CCIX shareholders). In addition, the administrator will have the authority to amend, alter, suspend, or terminate the Incentive Plan or any part of the

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