Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 15

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 15
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losing matters under the EEW Business Combination Agreement and certain ancillary
documents. Global is serving as the Seller Representative under the EEW Business Combination Agreement, and in such capacity will represent
the interests of the Sellers and their respective successors and assignees with respect to certain post-Closing matters under the EEW
Business Combination Agreement.

Related
Agreements

Lock-Up
Agreement

Simultaneously
with the execution of the EEW Business Combination Agreement, certain shareholders of EEW (each, a “Holder”) entered into
a lock-up agreement (each, a “EEW Lock-Up Agreement”) with our Company and the Purchaser Representative, and upon its formation,
Pubco signed a joinder thereto, pursuant to which such Holder agreed to lock-up the Pubco Ordinary Shares that it will receive in the
EEW Business Combination for a period (the “Lock-Up Period”) commencing from the Closing and ending on the date that is 180
days after the Closing (subject to early release on the date after the Closing on which Pubco consummates a liquidation, merger, share
exchange or other similar transaction with an unaffiliated third party that results in all of Pubco’s shareholders having the right
to exchange their equity holdings in our Company for cash, securities or other property, subject to certain customary transfer exceptions
(including permitted pledges of shares, so long as the lender cannot foreclose during the Lock-Up Period). The Global Transferred Shareholders
will only be subject to Global’s Lock-Up Agreement if they are an officer, director, affiliate or 5% owner of Pubco immediately
after the Closing.

8

Second
Insider Letter Amendment

Simultaneously
with the execution of the EEW Business Combination Agreement, our Company the Sponsor and Compass Digital SPAC LLC (but as described
above, not the SPAC NRA Holders and other Purchaser insiders unless they agree to do so after the signing of the EEW Business Combination
Agreement) entered into an the Second Insider Letter Amendment”), and upon its formation, Pubco signed a joinder thereto, (i) to
add Pubco as a party to the Insider Letter, (ii) to revise the terms of the Insider Letter to reflect the EEW Business Combination, including
the issuance of Pubco Ordinary Shares in exchange for our Ordinary Shares, (iii) to amend the terms of the lock-up applicable to the
Founder Shares set forth in the Insider Letter to conform with the lock-up terms in the