Company: INV
Filing Date: 2025-05-09
Form Type: DEF 14A
Source: 0001628280-25-024060
Chunk: 42

Company: Innventure, Inc.
Filing Date: 2025-05-09
Form: DEF 14A
Chunk 42
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) agreed not to transfer

certain Class B ordinary shares of Learn CW, par value $0.0001 per share (the “Founder Shares”), outstanding prior to the

consummation of Learn CW’s initial public offering until the earlier of (A) one year after the completion of the Business

Combination and (B) the date following the completion of the Business Combination on which Learn CW completes a

liquidation, merger, share exchange or other similar transaction that results in all of Learn CW’s shareholders having the

right to exchange their Learn CW Class A ordinary shares, par value $0.0001 per share (the “Ordinary Shares”), for cash,

securities or other property. The Founder Shares and the Ordinary Shares were each converted into shares of Common

Stock at the Closing. Pursuant to the terms of the 2021 Letter Agreement, and notwithstanding the foregoing, if, subsequent

to the Closing, the closing price of the Common Stock equals or exceeds $12.00 per share (as adjusted for share sub-

divisions, share capitalizations, share consolidations, reorganizations, recapitalizations and the like) for any 20 trading days

within any 30-trading day period commencing at least 150 days after the Business Combination, the shares of Common

Stock held by the parties to the 2021 Letter Agreement or their permitted transferees will be released from lock-up.

**Employee Family Relationship**

Mr. Colin Scott (the son of Dr. John Scott, our Chief Strategy Officer) is an employee of Innventure and serves on

the Accelsius board of directors. Mr. Colin Scott earned $325 and $216 for the years ended December 31, 2024 and 2023,

respectively.

**Aircraft Time Sharing Agreements**

On May 6, 2024, Innventure LLC entered into aircraft time sharing agreements with entities affiliated with

Michael Otworth and John Scott, each of whom owns a partial interest in a private airplane, whereby they, as partial

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owners of the plane, would be reimbursed for its use by Innventure LLC and its employees and directors. Such

reimbursements are only to be granted for Innventure LLC business use. The aircraft time sharing agreements each have an

initial term of one year and automatically renew for one month terms until terminated by either party. Each agreement may

be terminated by either party with 30 days’ prior written notice. In 2024, Innventure LLC made