Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 1092

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 5
Chunk 1092
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 no compensation of any kind, including any
finder’s fee, reimbursement, consulting fee or monies in respect of any payment of a loan, will be paid by us to our Sponsor, officers
and directors, or any affiliate of our Sponsor or officers, prior to, or in connection with any services rendered in order to effectuate,
the consummation of an initial business combination (regardless of the type of transaction that it is). However, these individuals will
be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target
businesses and performing due diligence on suitable business combinations. Our audit committee will review on a quarterly basis all payments
that were made to our Sponsor, officers, directors or our or their affiliates and will determine which expenses and the amount of expenses
that will be reimbursed. There is no cap or ceiling on the reimbursement of out-of-pocket expenses incurred by such persons in connection
with activities on our behalf.

91

Prior to March of 2023, our Sponsor had agreed to loan the Company
an aggregate of up to $400,000 to cover expenses related to the proposed Initial Public Offering pursuant to the “Note. The Note
was non-interest bearing and payable on the earlier of October 31, 2023, the consummation of the Initial Public Offering or the abandonment
of the Initial Public Offering. In March of 2023, we amended the Note to allow for the borrowing of an additional $40,000 (up to $440,000
in total) as well as adjusted the terms of the Note to provide that repayment occur on the later of the Initial Public Offering, or October
31, 2023. This amendment did not have a material impact on our financial statements. On March 24, 2023, we repaid all amounts outstanding
under the Note.

In order to finance transaction costs in connection with a business
combination, our Sponsor or an affiliate of our Sponsor, or certain of our officers and directors may, but are not obligated to, loan
us funds as may be required, up to $2,000,000 (“Working Capital Loans”). If we complete a business combination, we will repay
the Working Capital Loans. Up to $2,000,000 of such loans may be converted into warrants, at a price of $1.00 per warrant at the option
of the lender, upon consummation of our initial business combination. In the event that a business combination does