Company: CHPG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001213900-25-077011
Chunk: 73

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 compensation of $7,500 for
three months from the date the IPO is consummated and 90th date after the closing of the IPO, (iii) $22,500 upon the entry of a definitive
agreement by the Company, (iv) $22,500 upon the closing of the Company’s initial business combination.

The CFO shall receive (i) monthly cash compensation
of $5,000 for three months from the date of the offer letter until the IPO is consummated, (ii) monthly cash compensation of $5,000 for
three months from the date the IPO is consummated and 90th date after the closing of the IPO, (iii) $15,000 upon the entry of a definitive
agreement by the Company, (iv) $15,000 upon the closing of our initial business combination.

As of May 11, 2025, the accrued salary expenses
of $108,602 under the original offer letters were adjusted to additional paid-in capital as related parties debt forgiveness under the
Amendments.

As of June 30, 2025 and December 31, 2024, the
Company had prepaid salary expenses of $7,500 and salary payable of $32,500, respectively, for the CEO.

As of June 30, 2025 and December 31, 2024, the
Company had prepaid salary expenses of $5,000 and salary payable of $21,901, respectively, for the CFO.

14

Note 6 — Commitments and
Contingencies

Underwriter Registration Rights

The holders of the insider shares, Private Placement
Units (including securities contained therein) and Units (including securities contained therein) that may be issued on conversion
of Working Capital Loans or extension loans will be entitled to registration rights pursuant to a registration rights agreement to be
signed prior to or on the effective date of this offering requiring the Company to register such securities for resale. The holders of
these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In
addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent
to the Company’s completion of the Company’s initial Business Combination and rights to require the Company to register for
resale such securities pursuant to Rule 415 under the Securities Act. The Company will bear the expenses incurred in connection with
the filing of any such registration