Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 509

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 509
---
 than the par value of a share.

Non-Transferability of Awards. Unless determined otherwise by the administrator, an option under the 2017 Plan may not be transferred in any manner other than by beneficiary designation, will, or the laws of descent and distribution.

Certain Adjustments. In the event of a subdivision of the Shares into a larger number of Shares, a bonus issue of Shares, a combination or consolidation of the Shares into a lesser number of Shares, a reclassification, or any other increase or decrease in the number of issued Shares effected without receipt of consideration by PlusAI, proportionate adjustments will automatically be made to (1) the number and kind of Shares available for future grants under the 2017 Plan, (2) the number and kind of Shares covered by each outstanding option, (3) the exercise price under each outstanding option, and (4) any repurchase price that applies to Shares granted under the 2017 Plan pursuant to the terms of a PlusAI repurchase right under the applicable award agreement.

In the event of a declaration of an extraordinary dividend payable in a form other than Shares in an amount that has a material effect on the fair market value of the Shares of PlusAI, a recapitalization, a spin-off, or a similar occurrence, the administrator may make appropriate adjustments to one or more of the items listed in the paragraph above.

Corporate Transaction. In the event that PlusAI is a party to a merger or consolidation, or in the event of a sale of all or substantially all of PlusAI’s Shares or assets, all Shares acquired under the 2017 Plan and all options outstanding on the effective date of the transaction will be treated in the manner described in the definitive transaction agreement (or, in the event the transaction does not entail a definitive agreement to which PlusAI is party, in the manner determined by the administrator), which agreement or determination need not treat all options (or all portions of an option) in an identical manner. The treatment specified in the transaction agreement or as determined by the administrator may include (without limitation) one or more of the following with respect to each outstanding option: (1) the continuation of the option by PlusAI (if PlusAI is the surviving corporation); (2) assumption of the option by the surviving corporation or its parent; (3) substitution by the surviving corporation or its parent of a new option for the option; (4) cancellation of the option in exchange for a payment (which may be made in the form of cash, cash equivalents, or