Company: JUPGF
Filing Date: 2025-07-25
Form Type: DRS/A
Source: 0001641172-25-021053
Chunk: 203

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-07-25
Form: DRS/A
Chunk 203
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 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.

A limitation on the foregoing is the statutory proviso
(also found in the registrant’s Bylaws) that, in connection with such action, suit or proceeding 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, and, with respect to any criminal
action or proceeding, had no reasonable cause to believe that their conduct was unlawful.

Further, under Section 60 of the BCA and the
registrant’s Bylaws, the termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea
of no contest, or its 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