Company: SBXD
Filing Date: 2025-08-07
Form Type: 8-K/A
Source: 0001104659-25-075273
Chunk: 19

Company: SilverBox Corp IV
Filing Date: 2025-08-07
Form: 8-K/A
Chunk 19
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 concurrently with the Closing of the Business Combination Agreement, SPAC, the Company, Pubco and certain SPAC insiders will enter into an amendment (the “ Insider Letter Amendment”) to the letter agreement, dated August 15, 2024, as may be amended, by and among SPAC, the Sponsor and certain SPAC insiders therein that was entered into in connection with SPAC’s initial public offering (the “ Insider Letter Agreement”), pursuant to which, among other matters, effective as of the Closing, Pubco shall assume and be assigned the rights and obligations of SPAC under the Insider Letter Agreement.

Governance Term Sheet

As previously disclosed in the Initial Current Report, at or prior to the Closing, Pubco shall amend and restate Pubco’s certificate of incorporation (the “ Pubco A&R Certificate of Incorporation”) and bylaws to incorporate the terms of the Governance Term Sheet attached as an exhibit to the Business Combination Agreement (the “ Governance Term Sheet”), pursuant to which the parties have agreed to certain governance terms for Pubco to be effective as of the Effective Time. The Governance Term Sheet provides, among other things, that (i) the board of directors of Pubco (the “ Pubco Board”) shall consist of five individuals, three of which are to be designated by the Company, one of which is to be designated by SPAC and one of which will be Edward Chin, as the Chief Executive Officer of Pubco; (ii) Edward Chin will serve as Chairman of the Pubco Board; (iii) except for matters delegated to the Executive Committee, all decisions of the Pubco Board must be adopted by a simple majority of directors in attendance; and (iv) Pubco shall establish an Executive Committee consisting of Edward Chin and such other members as determined by Edward Chin and an Audit Committee, Compensation Committee and Nominating & Governance Committee, each consisting of three independent directors. The Governance Term Sheet also provides for the voting rights of the classes of shares of Pubco Stock, as follows (x) the holders of shares of Pubco Class A Stock shall be entitled to one (1) vote per share and to receive distributions in proportion to the number of shares of Pubco Class A Stock held by them, and (y) the holders of Pubco Class C Stock, all of which will be held by an entity controlled by the Key Company Holder immediately following the Closing, will collectively have 80% of the voting power of all shares of Pubco Stock (including shares issued in the future) until such time