Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 516

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 516
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 transaction described in the preceding paragraph or a sale of all or substantially all of the business or assets of PlusAI as an entity, the administrator will equitably and proportionately adjust the performance standards applicable to any then-outstanding performance-based awards to the extent necessary to preserve (but not increase) the level of incentives by the 2021 Plan and the then-outstanding performance-based awards.

Corporate Transaction. Upon a “change in control event” (as such term is defined in the 2021 Plan), the administrator may make provision for a cash payment in settlement of outstanding awards or for the assumption, substitution or exchange of the outstanding awards (or the cash, securities or other property deliverable to the holder(s) of any or all outstanding Awards), based on, to the extent relevant in the circumstances, the distribution or consideration payable to holders of the Shares upon or in respect of such change in control event.

The administrator may, in its sole discretion and subject to certain U.S. tax rules, accelerate vesting of one or more awards to the extent such awards are outstanding upon a change in control event or such other events or circumstances as the administrator may provide. The administrator may take action with respect to a change in control event prior to such event (as opposed to on the occurrence of such event) to the extent that the administrator deems the action necessary to permit the award holder to realize the benefits intended to be conveyed with respect to the underlying shares. The administrator may also deem an acceleration to occur immediately prior to the change in control event and/or reinstate the original terms of the award if an event giving rise to an acceleration does not occur.

Notwithstanding the foregoing, any escrow, holdback, earnout or similar provisions in the definitive documents relating to such a change in control event may apply to any payment to the holders of options, stock awards or restricted stock units to the same extent and in the same manner as such provisions apply to the holders of Shares. In addition, award holders will be required to execute any definitive transaction documents in connection with any change in control event at the request of PlusAI or our subsidiaries or affiliates, or any of their collective successors.

Upon the occurrence of a change in control event, unless the administrator provides for the survival, substitution, assumption, exchange or other continuation or settlement of awards, then each then-outstanding award (whether or not vested and/or exercisable) will terminate. In the case of options that will not survive or be substituted for, assumed, exchanged, or otherwise continued or settled in the