Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 235

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 235
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 Appointment of Directors and Officers

Our board of directors consists
of five members. In accordance with Nasdaq corporate governance requirements, we are not required to hold an annual meeting until one
year after our first fiscal year end following our listing on Nasdaq. The term of office of our directors will expire at our first annual
meeting of stockholders, subject to re-nomination and reappointment to the board by our stockholders. Subject to any other special rights
applicable to the stockholders, any vacancies on our board of directors may be filled by the affirmative vote of a majority of the directors
present and voting at the meeting of our board of directors or by a majority of the holders of our shares of common stock (or, prior
to our initial business combination, holders of our founder shares).

Our officers are appointed
by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board
of directors is authorized to appoint persons to the offices set forth in our amended and restated certificate of incorporation as it
deems appropriate. Our amended and restated certificate of incorporation provides that our officers may consist of a Chairman, a Chief
Executive Officer, a President, a Chief Operating Officer, a Chief Financial Officer, Vice Presidents, a Secretary, Assistant Secretaries,
a Treasurer and such other offices as may be determined by the board of directors.

Director Independence

Nasdaq listing standards
require that a majority of our board of directors be independent. An “independent director” is defined generally as
a person that, in the opinion of the company’s board of directors, has no material relationship with the listed company (either
directly or as a partner, stockholder or officer of an organization that has a relationship with the company). We have four “independent
directors” as defined in the Nasdaq listing standards and applicable SEC rules. Our board of directors has determined that
each of Messrs. Flores, Fox and Wang and Ms. Burke is an independent director under applicable SEC and Nasdaq listing standards.

Our independent directors
have regularly scheduled meetings at which only independent directors are present.

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Arrangements between Officers and Directors

To our knowledge, there
is no arrangement or understanding between our sole officer and any other person, including our sole director, pursuant to which the
officer was selected to serve as an officer.

Other Directorships

No director of the Company
is also a director of issuers with a class of securities