Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 734

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 7
Chunk 734
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 foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy
as expressed in the Securities Act and is therefore unenforceable. 

Item 11. Executive Compensation.

David Lawrence and Stephen
S. Rodgers each received 25,000 Founder Shares and J. Nicholas Ayers, Brian McCarthy and Paul G. Gabos each received 50,000 Founder Shares
from our Sponsor. In addition, our Sponsor paid a nominal aggregate purchase price of $25,000 for the Founder Shares, or approximately
$0.004 per share. Our Sponsor has invested in us an aggregate of $4,975,000, comprised of the $25,000 purchase price for the Founder Shares
(or approximately $0.004 per share) and the $4,950,000 purchase price for the Private Placement Units. Commencing on the date that our
securities were first listed on the NYSE through the earlier of consummation of our initial business combination and our liquidation,
we agreed to pay an affiliate of our Sponsor a total of $10,000 per month for office space, administrative and support services. Our Sponsor,
directors and officers, or any of their respective affiliates, 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 by us to our Sponsor, directors, officers or our or any
of their respective affiliates.

On September 13, 2024, the
Company issued an unsecured promissory note to the Sponsor (the “Promissory Note”), pursuant to which the Company may borrow
up to an aggregate principal amount of $300,000. The Promissory Note is non-interest bearing and payable on the earlier of (i) March 31,
2025 or (ii) the consummation of the Initial Public Offering. As of December 31, 2024, there was $198,024 outstanding under the Promissory
Note, which is due on demand. In order to finance transaction costs in connection with an intended initial business combination, our Sponsor
or one of its affiliates has committed to loan us funds as may be required to a maximum of $1,500,000 to fund our additional working capital
requirements and transaction costs. If we complete our initial business combination, we would repay such loaned amounts out of the proceeds