Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 386

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1B
Chunk 386
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. Certain reserved matters, including
debt issuances exceeding $5.0 million in a single transaction or in aggregate within a fiscal year, amendments to CAMT’s constitutional
documents the annual financial budget of CAMT, and any transaction between CAMT and CATL US or the Predecessor in an amount exceeding
$10.0 million in a single transaction or in aggregate within a fiscal year, require the unanimous vote of both CATL US and the Predecessor
or all directors. As of December 31, 2024, we have not funded this joint venture or contributed any assets to the joint venture.

The purpose of our Predecessor’s joint venture with CATL US is
to commercialize our AirJoule technology in Asia and Europe and, pursuant to the Amended and Restated Joint Venture Agreement for CAMT,
CAMT has the exclusive right to commercialize AirJoule technology in those territories. Subject to the oversight of CAMT’s board,
CATL US is responsible for managing the day-to-day operations of CAMT (including the nomination and replacement of the Chief Executive
Officer of CAMT), and is responsible for providing CAMT and any subsidiaries formed by CAMT with, among other things, administrative services,
supply chain support, assistance in obtaining required permits and approvals and assistance in purchasing or leasing land and equipment.

Critical Accounting Estimates

Management’s discussion and analysis of our financial condition
and results of operations is based on our consolidated financial statements, which are prepared in conformity with accounting principles
generally accepted in the United States of America. The preparation of these financial statements requires us to make certain estimates,
judgments, and assumptions that we believe are reasonable based upon the information available. These estimates and assumptions can be
subjective and complex and may affect the reported amounts of assets and liabilities, revenues, and expenses reported in those financial
statements. As a result, actual results could differ from such estimates and assumptions. Such changes to estimates could potentially
result in impacts that would be material to the consolidated financial statements.

While our significant accounting policies are described in more detail
in Note 3 to our consolidated financial statements appearing in Item 8 to this Annual Report on Form 10-K, we believe that the following
accounting policies were most critical to the judgments and estimates used in the preparation of our consolidated financial statements.

31

Share-Based Compensation

We account for share-based compensation arrangements granted to employees
and non-employees in accordance with ASC 718, Share-based Compensation