Company: AIRJW
Filing Date: 2025-05-05
Form Type: 424B3
Source: 0001213900-25-039770
Chunk: 207

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-05
Form: 424B3
Chunk 207
---
 Company shall be solely responsible for funding the
AirJoule JV, and the Company shall have a distribution preference under the A&R Joint Venture Agreement for the amount of its post-closing
capital contributions plus a 9.50% preferred return on such amounts.

The business and affairs of the A&R Joint
Venture Agreement shall be managed by a Board of Managers, consisting of two managers (including the chairman) appointed by the Company
and two managers appointed by GE Vernova. Following the second anniversary of the JV Closing, if the Board of Managers reach an impasse
that cannot be resolved through the process set forth in the A&R Joint Venture Agreement, the A&R Joint Venture Agreement generally
provides that the Company may require GE Vernova to sell GE Vernova’s 50% interest to the Company or GE Vernova may require the
Company to purchase GE Vernova’s 50% interest, but only, in each case, if the GE Match Date has not yet occurred. The price for
GE Vernova’s interest will depend on the fair market value of the interest, as set forth in the A&R Joint Venture Agreement,
with a minimum value of approximately $5 million. The A&R Joint Venture Agreement also provides similar call and put rights with
respect to GE Vernova’s interest if the GE Match Date does not occur by the sixth anniversary of the JV Closing or if the Company
is acquired by a competitor of GE Vernova.

<div align='center'>F-20

AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 5 — EQUITY METHOD INVESTMENT
(cont.)

In the event that a change in applicable laws
or regulations has a material adverse effect on GE Vernova’s interest in the AirJoule JV, or GE Vernova determines that the Company
fails to meet certain financial performance benchmarks, GE Vernova may require the Company to purchase GE Vernova’s interest for
a total purchase price of $1.00.

AirJoule, LLC is a variable interest entity for
which the Company has determined there is shared power with GE Vernova and therefore accounts for the VIE under the equity method of accounting.
The Company considered the power to direct significant activities and obligation to absorb losses or right to receive benefits in assessing
whether or not the VIE should be accounting for under the equity method of accounting. Certain assumptions the Company used to reach its
conclusion included the lack of reconsider