Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 1148

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 9C
Chunk 1148
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strom, currently holds the title of Chief Legal Officer of Lionheart Capital and
its affiliated companies.

In
connection therewith, Wasserstrom was specifically engaged by the Company to provide counsel for general corporate legal matters and,
as such, may be deemed to be a related party of the Company. As of December 31, 2024, the Company incurred an aggregate of $175,000 of
legal fees from Wasserstrom. On June 25, 2024, the Company paid $50,000 and the remaining $125,000 is recorded within deferred legal
fees since it is due at the time of the Business Combination.

Administrative
Services Agreement

Commencing
on June 18, 2024, the Company entered into an agreement with the Sponsor or an affiliate to pay an aggregate of $15,000 per month for
office space, utilities, and secretarial and Administrative Services. For the period from February 21, 2024 (Inception) through
December 31, 2024, the Company incurred $95,000 in fees for these services, of which such amount is included in general and administrative
and formation costs in the accompanying statement of operations.

F-13

LIONHEART
HOLDINGS

NOTES
TO FINANCIAL STATEMENT

DECEMBER
31, 2024

Letter
Agreement

The
Sponsor, officers and directors have entered into the Letter Agreement, pursuant to which they have agreed to (i) waive their redemption
rights with respect to their Founder Shares and Public Shares in connection with the completion of the initial Business Combination;
(ii) waive their redemption rights with respect to their Founder Shares and Public Shares in connection with a shareholder vote
to approve an amendment to the Amended and Restated Charter (x) to modify the substance or timing of the Company’s obligation
to allow redemption in connection with the initial Business Combination or to redeem 100% of the Public Shares if the Company has not
consummated an initial Business Combination within the Combination Period or (y) with respect to any other material provisions relating
to shareholders’ rights or pre-initial Business Combination activity; (iii) waive their rights to liquidating distributions
from the Trust Account with respect to their Founder Shares if the Company fails to complete the initial Business Combination within
the Combination Period, although they will be entitled to liquidating distributions from the Trust Account with respect to any Public
Shares they hold if the