Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 394

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 394
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 extent that they have not been previously exercised, vested, or settled (as applicable), will terminate immediately before the consummation of such event.

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Merger or Change in Control

The Incentive Plan provides that in the event of the Post-Closing Company’s merger with or into another corporation or other entity or a change in control of the Post-Closing Company, as defined in the Incentive Plan, each outstanding award will be treated as the administrator determines, without a participant’s consent. The administrator may, without limitation, provide that outstanding awards granted under the Incentive Plan may be (1) assumed, or substantially equivalent awards substituted, by the acquiring or succeeding entity (or an affiliate thereof), (2) continued by the Post-Closing Company (subject to any adjustments in accordance with the Incentive Plan), (3) upon written notice to the participant, terminated upon or immediately prior to the merger or change in control, (4) made vested and exercisable or payable, or restrictions applicable to the award may be made to lapse, in whole or in part, and, to the extent the administrator determines, terminated upon or immediately prior to the merger or change in control, (5) terminated in exchange for cash, other property or other consideration, or any combination of the above (provided, for the avoidance of doubt, that if as of the date of the occurrence of the transaction the administrator determines in good faith that no amount would have been attained upon the exercise of such award or realization of the participant’s rights, then such award may be terminated without payment of cash and/or property), or replaced with such other rights or property selected by the administrator in its sole discretion, or (6) treated in any combination of the foregoing. The administrator is not required to treat all awards, all awards held by a participant, all portions of awards, or all awards of the same type, similarly.

Unless specifically provided otherwise under the applicable award agreement or other written agreement with the participant authorized by the administrator, if an option or stock appreciation right (or a portion of such award) is not assumed, substituted or continued, the administrator will notify the participant that such option or stock appreciation right (or its applicable portion) will be exercisable for a period of time determined by the administrator in its sole discretion and the option or stock appreciation right (or its applicable portion) will terminate upon the expiration of such period.

If awards granted to a non-employee director while such individual was a non-