Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 130

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 130
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, upon consummation
of our initial business combination, in addition to the convertible notes in connection with the potential extensions. The Working Capital
Units would be identical to the Private Placement Units.

As of December 31, 2024, the
Company had no borrowings under the Working Capital Loans.

Administrative Services Agreement

The Company is obligated, commencing
from December 9, 2024, to pay the Sponsor, a monthly fee of $10,000 for office space and administrative and support services pursuant
to a certain administrative services agreement by and between the Company and the Sponsor dated December 9, 2024 (the “Administrative
Services Agreement”). This Administrative Services Agreement will terminate upon completion of the Company’s business combination
or the liquidation of the Trust Account to public shareholders. For the period from September 11, 2024 (inception) through December 31,
2024, the Company incurred and owes $7,000 for these services.

39

Policy for Approval of Related Party Transactions

We have not yet adopted
a formal policy for the review, approval or ratification of related party transactions. Accordingly, the transactions discussed above
were not reviewed, approved or ratified in accordance with any such policy.

We have adopted a Code of
Ethics requiring us to avoid, wherever possible, all conflicts of interests, except under guidelines or resolutions approved by our board
of directors (or the appropriate committee of our board) or as disclosed in our public filings with the SEC. Under our code of ethics,
conflict of interest situations will include any financial transaction, arrangement or relationship (including any indebtedness or guarantee
of indebtedness) involving the company.

In addition, our audit committee,
pursuant to a written charter will be responsible for reviewing and approving related party transactions to the extent that we enter into
such transactions. An affirmative vote of a majority of the members of the audit committee present at a meeting at which a quorum is present
will be required in order to approve a related party transaction. A majority of the members of the entire audit committee will constitute
a quorum. Without a meeting, the unanimous written consent of all of the members of the audit committee will be required to approve a
related party transaction. We have adopted the audit committee charter. We also require each of our directors and executive officers to
complete a directors’ and officers’ questionnaire that elicits information about related party transactions.

These procedures are intended
to determine whether any such related party transaction imp