Company: AIRJW
Filing Date: 2025-03-27
Form Type: S-1
Source: 0001013762-25-002897
Chunk: 131

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-27
Form: S-1
Chunk 131
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 consummation of a “change in control” of the Company (as defined in the Incentive Plan) or, solely if such Qualifying Termination is by reason of a termination by the Company without “cause,” during the three month period prior to the consummation of a change in control, then in lieu of the payments and benefits described above, the executive will be eligible to receive following payments and benefits: •an amount equal to 12 months (or, for Mr. Jore, 18 months) of base salary, payable in a lump -sum; •an amount equal to 12 months (or, for Mr. Jore, 18 months) of the Company’s portion of monthly COBRA premium contributions for the executive and his covered dependents, payable in a lump -sum; and •an amount equal to 100% (or, for Mr. Jore, 150%) of the executive’s target annual cash performance bonus for the calendar year in which such Qualifying Termination occurs, payable in a lump -sum. The Executive Severance Plan provides that each outstanding Company equity award held by the applicable named executive officer as of the date of his Qualifying Termination will be treated in accordance with the terms and conditions of the applicable Company equity plan and award agreement governing such equity award. The applicable named executive officer’s right to receive the applicable severance payments and benefits described above is subject to his execution and non -revocationof a general release of claims in favor of the Company and its affiliates, and his continued compliance with any applicable restrictive covenants. In the event that any payments under the Executive Severance Plan, together with any other amounts paid to a named executive officer, would subject the executive to an excise tax under Section 4999 of the Internal Revenue Code, such payments will be reduced to the extent that such reduction would produce a better net after -taxresult for the executive. Director Compensation Pre-Business Combination Director Compensation None of our non -employeedirectors received any cash, equity or other compensation for their service on the Board during 2024. Post-Business Combination Director Compensation In June 2024, the Board approved a one -timecash payment of $50,000 to Mr. Dabbar and granted a one -timeequity award to Mr. Dabbar with a target value of $108,000, granted 50% in the form of restricted stock units and 50% in the form of stock options. 77

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