Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 62

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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4,507,258 insider shares it held, as a result of which the Sponsor HoldCo owns 2,010,161 insider shares due to change of IPO terms. All
share amounts, per-share amounts and relevant disclosures for the period presented in these unaudited financial statements and notes thereto
have been adjusted retroactively to reflect these new terms.

On May 11, 2025, the Company executed an amendment
to the offer letter by and between the CEO and the Company, dated May 21, 2024, and an amendment to the offer letter by and between the
CFO and the Company, dated May 21, 2024 (the two amendments, collectively, “Amendments”), to revise the terms of the management
compensation. Effective on May 11, 2025, the Amendments provide that:

The CEO shall receive (i) monthly cash compensation
of $7,500 for three months from the date of the offer letter until the IPO is consummated, (ii) monthly cash compensation of $7,500 for
three months from the date the IPO is consummated and 90th date after the closing of the IPO, (iii) $22,500 upon the entry
of a definitive agreement by the Company, (iv) $22,500 upon the closing of the Company’s initial business combination.

The CFO shall receive (i) monthly cash compensation
of $5,000 for three months from the date of the offer letter until the IPO is consummated, (ii) monthly cash compensation of $5,000 for
three months from the date the IPO is consummated and 90th date after the closing of the IPO, (iii) $15,000 upon the entry
of a definitive agreement by the Company, (iv) $15,000 upon the closing of our initial business combination.

Certain payments or accrual made to-date under
the original offer letters will be prospectively adjusted from amounts to be paid under the Amendments.

16

On May 21, 2025, Sponsor HoldCo converted 800,000
Class B ordinary shares, par value $0.0001 per share, on a one-for-one basis to 800,000 Class A ordinary shares of the Company, par value
$0.0001 per share (the “Class A insider shares”, with the Class B insider shares, the “insider shares”).

On May 29, 2025, the Company consum